Exhibit
99.1
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Appliance Recycling Centers of America, Inc.
7400
Excelsior Boulevard, Minneapolis MN 55426 (952) 930-9000
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Appliance Recycling Centers of America (ARCA) Announces Appointment of
Glynnis Jones to the Board of Directors
Minneapolis, MN—March 18, 2008—Appliance Recycling Centers of America, Inc.
(NASDAQ: ARCI) today announced that Glynnis Jones has been appointed as an
independent member of the company’s Board of Directors. She fills a new
position on the board and will initially serve until the next election of
directors, which will be held at the company’s annual meeting of shareholders.
In
addition to being an independent member of the Board of Directors, Ms. Jones
will also serve on the audit and compensation committees.
“We
are very excited to have Glynnis join the ARCA board and look forward to
working with her in the future,” commented Edward R. (Jack) Cameron, President
and Chief Executive Officer. “Glynnis’s extensive experience working with
public utilities and federal environmental agencies will be extremely valuable
as we continue to grow our utility recycling business.”
Ms. Jones brings a wide breadth of experience and talent to the
company. She formerly held the position of Vice President of Corporate Planning
with ARCA from 1989 to 2003. In this
capacity, she was responsible for developing the company’s environmental
policies and representing the company before the California Public Utilities
Commission and various state and federal environmental agencies. Prior to working for ARCA, Ms. Jones was
an independent environmental consultant and previously worked for the
Metropolitan Council of the Twin Cities, the State of Minnesota and the West
Central Regional Development Commission.
She earned a Bachelor of Arts degree from the University of Wisconsin.
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About ARCA
ARCA
is one of the nation’s largest recyclers of major household appliances for the
energy conservation programs of electric utilities. Through its ApplianceSmart
operation, ARCA is also one of the nation’s leading retailers of special-buy
household appliances, primarily those manufactured by Maytag, GE, Frigidaire
and Whirlpool. These special-buy appliances, which include close-outs, factory
overruns and scratch-and-dent units, typically are not integrated into
manufacturers’ normal distribution channels. ApplianceSmart sells these
virtually new appliances at a discount to full retail, offers a 100% money-back
guarantee and provides warranties on parts and labor. As of February 2008,
ApplianceSmart was operating fifteen factory outlets: five in the
Minneapolis/St. Paul market; four in the Columbus, Ohio, market; four in the
Atlanta market; and two in San Antonio, Texas
This
press release contains statements that are forward-looking statements as
defined within the Private Securities Litigation Reform Act of 1995, including
statements regarding ARCA’s future success and Ms. Jones’s contribution to
the company’s organization. These forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ materially
from the statements made, including the risks associated with general economic
conditions, competition in the retail and recycling industries and regulatory
risks. Other factors that could cause operating and financial results to differ
are described in ARCA’s periodic reports filed with the Securities and Exchange
Commission. Other risks may be detailed from time to time in reports to be
filed with the SEC.
Visit
our web sites at www.arcainc.com and www.appliancesmart.com.
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For
Additional Information Contact:
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Edward
R. (Jack) Cameron, CEO or
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Peter
Hausback, EVP and CFO
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(952)
930-9000
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