VANCOUVER, British Columbia, Nov. 12, 2004 (PRIMEZONE) -- Pinnacle Developments, Inc. (Pink Sheets:PNCV) is pleased to announce the appointment of Mr. Carl Baker as Chief Executive Officer and President. Mr. Baker brings to Pinnacle Developments the accumulated experience of over 40 years in the forest products industry. Mr. Baker has always been at the forefront of progressive change, innovation and new efficiencies in the forestry sector.
As the Woodlands Manager of Fletcher Challenge in Mackenzie, B.C. Canada, Carl helped revolutionize the logging industry by converting the operations there to a short log system, a concept that had the effect of reducing log inventories at the mill. This in turn helped usher in an Inventory on Demand cycle in the forestry industry that was unprecedented. Also, building a $10 million dollar inland icebreaker, this innovation reduced the risk of hauling logs on ice bridges and afforded sawmills year round transport of wood fiber, thereby substantially reducing inventory costs. His achievements in the field are widely recognized. Mr. Baker's logging operation in Mackenzie, BC has been described as one of the most technically sophisticated logging systems in the world.
Mr. Baker recently retired from his position at Fletcher Challenge and has subsequently worked with First Nations groups to demonstrate the advantages of the short wood harvesting system. His recent experience also includes involvement in a company that manufactures and sells finished hardwood products.
Pinnacle Developments is delighted that Mr. Baker has decided to pledge his diverse experience in the industry to lead the process of building Pinnacle Developments into a company that will successfully harvest, process and market wood fiber products to Asia, America and other global markets.
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Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.