HARTSVILLE, SOUTH CAROLINA – August 4, 2008 – Hilex Poly Co. LLC, (“Hilex” or “the Company”), the world’s largest plastic bag company, today announced that Stephen M. Humphrey, current Chairman of the Board of Directors for Hilex, has been appointed as the Company’s interim President and Chief Executive Officer. Mr. Humphrey will be fulfilling these responsibilities until the Board announces his replacement.
David Pastrich, the former President and CEO, tendered his resignation effective July 31, 2008.
Stephen M. Humphrey was the President and Chief Executive Officer of Graphic Packaging Corporation. Prior to Graphic Packaging, Mr. Humphrey was President and Chief Executive Officer of Riverwood International until the merger of Riverwood and Graphic Packaging in August of 2003 when he assumed the same duties for the newly formed Graphic Packaging Corporation.
Mr. Humphrey joined Riverwood in March 1997 with nearly 30 years of diverse business experience at National Gypsum Company, Rockwell International Corporation and General Electric Company. Prior to joining Riverwood, he was Chairman, President and Chief Executive Officer of National Gypsum Company, an integrated manufacturer and supplier of wallboard and related products, based in Charlotte, North Carolina. At Rockwell International Corporation from 1981 to 1994, he held a number of key executive positions including president of Rockwell’s On-Highway Products business, a global billion-dollar truck components business, which consisted of five major product groups with manufacturing locations in North America and Europe as well as elsewhere in the world.
Mr. Humphrey began his career at General Electric Company after graduating from Siena College in New York with a bachelor’s degree in finance. During his 14-year General Electric career, he gained significant experience in technical marketing and business development across a broad spectrum of GE businesses.
About Hilex Poly Co., LLC (www.hilexpoly.com)
Hilex Poly Co., LLC is an industry leading manufacturer of plastic bag and film products. Focusing primarily on high-density polyethylene (HDPE) film products and related services, our products range from bagging systems to agricultural films.
As an industry leader, we have introduced many new products and features into the marketplace. Our patented QuikMate EZ® open feature continues to be the standard for self-opening plastic bags. Other key innovations and patents include specialized bag features and dispensing hardware. All of our products and services are focused on practical solutions in our target markets.
Hilex is a US based company with headquarters in Hartsville, SC, and 11 strategically located manufacturing facilities across the United States which includes the world’s largest plastic bag recycling plant.
Joyce A. Foster
Vice President Human Resources