MFC Industrial Ltd. announced that its board of directors has appointed Gerardo Cortina as President and Chief Executive Officer and a director, Ferdinand Steinbauer as Treasurer and Samuel Morrow as Deputy Chief Executive Officer of the Company. Gerardo Cortina (President, CEO and a director) most recently served as a Managing Director of the Company's subsidiary, Possehl México, S.A. de C.V. Mr. Cortina replaces Michael Smith as President and CEO. Mr. Smith is continuing with the Company as Managing Director, and will assist management in this transition with the additional mandate to oversee Asian projects and other special opportunities.

Ferdinand Steinbauer (Treasurer) is currently a Managing Director of MFC Commodities GmbH and has held that position since 1998. Samuel Morrow (Deputy CEO) is a Chartered Financial Analyst and was most recently a Vice President of MFC in Vienna, Austria.