Medina, Ohio, September 20, 2004--Corrpro Companies, Inc. (AMEX:CO), today
announced that Thomas P. Briggs has been elected to Corrpro's board of directors.
Mr. Briggs' career as a senior financial executive and board member spans both public
and private companies in a variety of industries. He was Senior Vice President, Chief Financial
Officer, and Secretary for Horizon Organic Holding Corporation, a publicly held organic food
company, from 2000 until its recent sale in 2004. From 1990 to 2000, he was Vice President
Finance for Leprino Foods Company, a privately held food manufacturer. In addition to
positions he held with two Big Four accounting firms, Mr. Briggs served as Vice President and
Chief Financial Officer for Calvin Exploration and for Energetics, Inc., both publicly traded oil
and gas exploration companies, and for Sanford Homes Corporation, a privately held
homebuilder and land developer.
"Tom Briggs possesses an extensive wealth of financial and business knowledge and
experience," commented James A. Johnson, Corrpro's Chairman of the Board. "We are
impressed with Tom's strong business orientation, strategic planning expertise, and insight into
corporate governance initiatives. We believe Tom will be a valuable addition to our Board."
Mr. Briggs' addition completes the transformation of Corrpro's Board of Directors.
Corrpro successfully refinanced its senior debt and recapitalized the Company in March 2004.
With this election, all nine of its current Board members have since been elected by Corrpro's
common and preferred shareholders. In accordance with Corrpro's charter, CorrPro
Investments, LLC, an affiliate of Wingate Partners III, L.P. and holder of Corrpro's outstanding
preferred shares, had the right to elect Mr. Briggs to the remaining board seat.
Corrpro, headquartered in Medina, Ohio, with over 40 offices worldwide, is the leading
provider of corrosion control engineering services, systems and equipment to the infrastructure,
environmental and energy markets around the world. Corrpro is the leading provider of cathodic
protection systems and engineering services, as well as the leading supplier of corrosion
protection services relating to coatings, pipeline integrity and reinforced concrete structures.
Except for historical information, the matters discussed in this press release are forward-looking
statements relating to the business of the Company. The forward-looking statements are made
under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words
such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or
variations of such words and similar expressions are intended to identify such forward-looking
statements. Actual results may differ materially from those expressed or implied by the forwardlooking
statements. Factors that may affect the Company's business and performance are set forth in the Company's filings with the Securities and Exchange Commission. The Company
assumes no obligation to update any of the information contained or referenced in this press
release. |