1st Detect CEO Bob C. Kibler Has Passed Away
November 03 2015 - 4:30PM
Business Wire
Chairman Thomas B. Pickens III to Return as
Interim CEO
The board of Astrotech Corporation (NASDAQ: ASTC), and its
subsidiary 1st Detect Corporation, today with deepest regret
announced 1st Detect CEO Bob C. Kibler passed away on October 31st
due to heart complications.
Mr. Kibler joined the company on June 23, 2014 and served as
Chief Executive Officer of 1st Detect Corporation since December 4,
2014. Thomas B. Pickens III, Chairman and CEO of Astrotech
Corporation and Chairman of 1st Detect, who was also the CEO of 1st
Detect from inception to December 3, 2014 will serve as Acting
Chief Executive Officer until a successor is named.
“The Astrotech family mourns the loss of our valued colleague
Bob Kibler,” stated Mr. Pickens. “Bob was a highly regarded
professional that was extremely passionate about analytical
instruments and was active in the industry for over 40 years.
During his tenure at 1st Detect, we benefited from Bob’s extensive
career managing the development of new products and identifying
valuable markets. Bob will be greatly missed both within the
company and industry and our thoughts and prayers are with his
family.”
About 1st Detect Corporation
1st Detect, a subsidiary of Astrotech Corporation (NASDAQ:
ASTC), develops, manufactures, and sells powerful, sensitive, and
accurate chemical analyzers that streamline processes for
industrial use in the food and beverage, semiconductor,
pharmaceutical, healthcare, research, and environmental markets, as
well as for government applications used in explosive and chemical
warfare detection for the Department of Homeland Security and the
military. The company’s core mass spectrometry technology was first
developed under an agreement with NASA for use on the International
Space Station. The unit is capable of detecting a wide variety of
chemicals including residues and vapors from explosives, chemical
warfare agents, toxic chemicals, food & beverage contaminants,
and pollutants. These capabilities, combined in an
economically priced, transportable, and ruggedized solution, make
it an ideal tool for a variety of applications. For more
information on 1st Detect Corporation, please visit
www.1stDetect.com.
About Astrotech Corporation
Astrotech Corporation (NASDAQ: ASTC) identifies and
commercializes emerging, disruptive technologies through its
closely held subsidiaries. Management employs creativity in
execution as well as sources investment opportunities from various
government laboratories, agencies, universities, and corporations,
as well as through its own internal research. Sourced from Oak
Ridge Laboratory’s chemical analyzer research, 1st Detect develops,
manufactures, and sells chemical analyzers that streamline
processes for industrial use in the airport security, food and
beverage, semiconductor, pharmaceutical, research, and
environmental markets, and the military. Sourced from decades of
image research from the laboratories of IBM and Kodak combined with
classified satellite technology from government laboratories,
Astral Images sells film to digital image enhancement, defect
removal and color correction software, and post processing services
providing economically feasible conversion of television and
feature 35mm and 16mm films to the new 4K ultra-high definition
(UHD), high-dynamic range (HDR) format necessary for the new
generation of digital distribution. Sourced from NASA’s extensive
microgravity research, Astrogenetix is applying a fast-track
on-orbit discovery platform using the International Space Station
to develop vaccines and other therapeutics. Demonstrating its
entrepreneurial strategy, Astrotech management sold its
state-of-the-art satellite servicing operations to Lockheed Martin
in August 2014. Astrotech has operations throughout Texas and is
headquartered in Austin. For information please visit
www.astrotechcorp.com.
This press release contains forward-looking statements that are
made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that
could cause actual results to be materially different from the
forward-looking statement. These factors include, but are not
limited to, continued government support and funding for key space
programs, product performance and market acceptance of products and
services, as well as other risk factors and business considerations
described in the Company’s Securities and Exchange Commission
filings including the annual report on Form 10-K. Any
forward-looking statements in this document should be evaluated in
light of these important risk factors. The Company assumes no
obligation to update these forward-looking statements.
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Astrotech CorporationCompany ContactJoshua Elbaum,
+1-512-485-9530VP, MarketingorInvestor Relations
ContactLHACathy Mattison and Kirsten Chapman,
415-433-3777ir@astrotechcorp.com
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