MIGDAL HA'EMEQ, Israel, Feb. 13, 2015 (GLOBE NEWSWIRE) -- Enzymotec Ltd. (Nasdaq: ENZY ) (the "Company"), a developer, manufacturer and marketer of innovative bio-active lipid ingredients, announced today the appointment of Holger Liepmann to its Board of Directors, effective February 12, 2015.
Steve Dubin, Enzymotec's Chairman commented, "I am thrilled to have Mr. Liepmann join our board of directors. The combination of his business knowledge, global leadership skills, and industry contacts will be valuable to the Company and our board. I believe that Mr. Liepmann's wealth of relevant industry experience will be of great value in helping us develop and support our growth strategies and enhance our leadership positioning in our markets."
Holger Liepmann said, "As a board member, I am excited to join such a talented and dedicated team. Enzymotec's technology, product portfolio and focus on innovation have allowed the Company to become a recognized global leader in the large and growing nutritional market. I look forward to utilizing my experience to help the Company execute its strategic growth initiatives."
Holger Liepmann, age 63, held various positions at Abbott Laboratories from 1986 until his retirement in 2011. From 2006 to 2011, he served as Executive Vice President, Nutritional Products of Abbott Laboratories and reported to the Chief Executive Officer. In this capacity he was responsible for all aspects of Abbott Laboratories' global nutritional business, including R&D, manufacturing, supply chain and commercial operations. He has held senior management positions in the Pharmaceutical Products Group, Abbott International, the commercial operations for Abbott's international pharmaceutical business, and Japan Operations. Prior to joining Abbott, he worked for Bayer AG in a variety of capacities between 1975 and 1986. Mr. Liepmann has enjoyed an international career with postings in Japan, Spain, Puerto Rico, Germany and the US. He earned a bachelor's degree from Dartmouth College and a master's degree in business administration from Stanford University.
About Enzymotec Ltd.
Enzymotec is a leading global supplier of specialty lipid-based products and solutions. The Company develops, manufactures and markets innovative bio-active lipid ingredients, as well as final products, based on sophisticated processes and technologies. For more information, visit www.enzymotec.com
Forward Looking Statements
This release may contain forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences the following risks: we depend on third parties to obtain raw materials, in particular krill, necessary for the production of our products; a high proportion of the sales of the INFAT® product is sold to end users by a single company in China; we are subject to a degree of customer concentration and our customers do not enter into long-term purchase commitments with us; we may be required to pay royalties on sales of our krill products in North America and Australia; we have in the past, and may in the future, become subject to litigation regarding intellectual property rights or other matters; our offering of products as ''medical foods'' in the United States may be challenged by regulatory authorities; we rely on our Swedish joint venture partner to manufacture INFAT®, and have recently entered into an arbitration proceeding with our partner with respect to certain matters related to the joint agreement; we are dependent on a single facility that houses the majority of our operations; we may be impacted by delays in manufacturing as we expand our capacity; we may not be able to expand our production or processing capabilities or satisfy growing demand; our gross profits may be adversely affected if we are only able to obtain lower quality krill meal; our ability to obtain krill may be affected by conservation regulation or initiatives; our product development cycle is lengthy and uncertain, and our development or commercialization efforts for our products may be unsuccessful; we and our customers are subject to significant and increasing government regulations regarding the sale and marketing of our products and our customers' products incorporating our products; we may not be able to protect our proprietary technology or prevent its unauthorized use by third parties; and other factors discussed under the heading "Risk Factors" in the Company's Form 20-F filed with the Securities and Exchange Commission on February 13, 2014. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
KCSA Strategic Communications Jeffrey Goldberger / Tram Bui 212.896.1249 / 212.896.1290
