PRRY Appoints Rod Hershberger, Chairman of PGTI, as Independent Advisor

Rhea-AI Summary

Planet Resource Recovery Inc. (OTC:PRRY) has appointed Rod Hershberger, former CEO of PGT Innovations, as an Independent Advisor. Hershberger co-founded PGT and led its IPO in 2006, bringing extensive experience in operations and management. CEO Andrew Lapp anticipates that Hershberger's guidance will be crucial for the relaunch of MAX ATVs. The company is re-engaging legacy suppliers to ensure quality parts for production. PRRY plans to leverage the MAX brand's 53-year legacy while diversifying its product line to include larger and electric vehicles, aligning with advancements in battery technology.

Positive

• Rod Hershberger's extensive industry experience may enhance management effectiveness.
• Re-engagement with legacy suppliers is expected to speed up production launch.
• Plans to diversify product offerings could open new revenue streams.

Negative

• None.

SARASOTA, FL / ACCESSWIRE / March 6, 2023 / Planet Resource Recovery Inc. (OTC:PRRY), manufacturer of MAX amphibious all-terrain vehicles (www.maxatvs.com), announces the appointment of Rod Hershberger, Chairman of PGT Innovations as an Independent Advisor of Planet Resource Recovery Inc.

Rod Hershberger co-founded PGT Custom Windows & Doors in 1980. In January 2001, PGT was purchased by Linsalata Capital Partners and later acquired by private equity firm JLL Partners in 2004.

Appointed in 2005 as Chief Executive Officer, Mr. Hershberger led the company's IPO in 2006. Previously, he served as Executive Vice President and Chief Operating Officer overseeing PGT's Florida and North Carolina operations. Mr. Hershberger has previously led all aspects of PGT, including Engineering, Marketing, Sales, Manufacturing, Transportation, Logistics, and Customer Service. Today, PGT Innovations is the nation's leading manufacturer of impact-resistant windows and doors, with annual sales exceeding $1.4 billion.

PRRY CEO Andrew Lapp looks forward to the breadth of knowledge and experience Mr. Hershberger can share with the management team at PRRY. "Mr. Hershberger has much to offer PRRY as we approach the official relaunch of MAX ATVs. His experience as PGT's CEO involved taking the company public on NASDAQ and later moving to NYSE, as well as acquiring other nationwide window and door companies. I believe having Mr. Hershberger's guidance in these areas from the onset will help us successfully achieve both our short and long-term goals as a public company."

Up to this point, PRRY management has been actively engaging major legacy suppliers for most components needed to build MAX all-terrain vehicles. President Galen Reich states: "Re-engaging previous major suppliers for MAX all-terrain vehicles will allow us to hit the deck running with quality parts and will greatly speed-up our production launch. Rebuilding these relationships with legacy vendors who have literally decades of previous experience building OEM parts for MAX ATVs is a critical advantage in our ramp-up phase."

About Planet Resource Recovery Inc.

PLANET RESOURCE RECOVERY, INC. ("PRRY") is the new manufacturer of the amphibious six-wheel-drive (6x6) MAX all-terrain vehicle product line (www.maxatvs.com), originally manufactured by Recreatives Industries Inc. of Buffalo, NY, from 1970 to 2013.

In 2022, the company appointed Galen Reich as President of PRRY. Galen served as General Manager and Marketing Manager for Recreatives Industries from 1993 to 2013 when the company was first sold and has since served in upper management with all subsequent owners of the MAX ATV brand.

PRRY will capitalize on MAX's brand legacy of 53 years by focusing on building the MAX ATV product line from existing, proven designs, which will ensure a rapid re-entry into the broader global ATV market which continues to grow at over 1,000,000 units per year.

Beyond traditional MAX ATV production, PRRY plans to diversify its product line by introducing new vehicles and products to market in a compressed timeframe. The company's planned diversification includes larger eight-wheeled vehicles (8x8) as well as electric vehicle (EV) drivetrains to draw on recent advancements in battery and drive motor technology, which make fitment in smaller vehicles possible. PRRY management believes that electric vehicles can offer performance that exceeds that of the traditional mechanical transmissions that most all-terrain vehicles employ.

Safe Harbor

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, intended to be covered by the "safe harbor" created by those sections. Any statements that are not historical facts contained in this press release are also "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA). Such statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be canceled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or maintain contractual relationships with vendors and customers, competition, general economic conditions and other factors that are detailed in our periodic reports filed with the Securities and Exchange Commission (" SEC "). We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA, Securities Act, and Securities Exchange Act.

CONTACT:

Planet Resource Recovery, Inc.
Investor Relations
ir@recreatives.com
1-800-255-2511
www.recreatives.com

SOURCE: Planet Resource Recovery, Inc.

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FAQ

Who is Rod Hershberger and what role does he play at PRRY?

Rod Hershberger is appointed as an Independent Advisor at Planet Resource Recovery Inc., bringing extensive experience from his tenure as CEO of PGT Innovations.

What are the expected impacts of Rod Hershberger's appointment on PRRY?

His appointment is anticipated to contribute significantly to the relaunch of MAX ATVs and guide the company's strategic goals.

How is PRRY planning to ramp up the production of MAX ATVs?

PRRY is re-engaging legacy suppliers to secure quality components, which will accelerate the production launch of MAX ATVs.

What new products is PRRY planning to introduce?

PRRY plans to diversify its lineup by introducing larger eight-wheeled vehicles and electric vehicle drivetrains.