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Morbark and HTI Form Waste-to-Power Partnership
Morbark, Inc. announced an agreement with Heat Transfer International of Kentwood, Mich. The agreement includes a manufacturing agreement for Morbark and an equity investment in HTI, which provides turnkey waste-to-energy systems that create renewable energy through SALT gasification of biomass.
Blount Announces CEO Succession
Blount International, Inc. announced a succession plan for its chief executive officer position. Joshua L. Collins has joined the company as president, chief operating officer and CEO-designate. James S. Osterman, chairman and CEO, will retire as an employee on January 4, 2010, and Collins will assume the position of CEO and retain that of president. Osterman will remain chairman until the annual meeting of stockholders in May 2010.
Blount recognized the 50-year employment anniversary of Osterman, who joined the company in 1959, when it was Omark Industries. Over the years, he held positions such as director of European operations and senior vice president of marketing, manufacturing and engineering. When Blount purchased Omark in 1985, Osterman was promoted to president of the Oregon Cutting Systems Division. He became president and CEO in August 2002, and chairman and CEO in April 2005.