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MFC Announces The Election Of Friedrich Hondl To The Board Of Directors

10/19/2015

NEW YORK, Oct. 19, 2015 /PRNewswire/ -- MFC Industrial Ltd. ("MFC" or the "Company") (NYSE: MIL) is pleased to announce that Friedrich Hondl has been elected to the Company's board of directors at the Company's annual general meeting held on October 16, 2015. Mr. Hondl has over 30 years of management experience in the European banking industry, including several management positions in international banks; Erste Group Bank, UniCredit, Deutsche Bank, where he was responsible for the international relationship business.

From 2013 to 2015, Mr. Hondl was the head of Erste Group Bank AG's Large Corporates International Division and from 2009 to 2012 he was the head of International Corporate Relationship Management of UniCredit Bank Austria AG.

He has also served as Chairman of the Supervisory Board of Intermarket Bank AG since 2014 and, from 2010 to 2012, was a member of the Supervisory Board of Oesterreichische Kontrollbank AG (OeKB). OeKB acts as Austria Export Credit Agency (ECA) on behalf of the Austrian government and specifically the Federal Ministry of Finance. It is a public and a private export insurer and financial institution. Within this group is the Austrian Development Bank. As an ECA, OeKB supports corporations financially in their export businesses and protects the business activities of Austrian companies abroad by means of export guarantees, investment guarantees and loan guarantees. Mr. Hondl has also been a board member of a private foundation since 2007.

Gerardo Cortina, President and Chief Executive Officer, commented: "Mr. Hondl has longstanding experience in the area of corporate banking and his broad expertise with international export credit agency makes him a much needed asset to MFC going forward."

About MFC Industrial Ltd.

MFC is a vertically integrated trade finance and global supply chain company, which is an end-to-end solutions provider for industrial companies around the world. MFC is focused on providing supply chain services and customized structured financial solutions to industrial customers and suppliers. We do business internationally in multiple geographic areas and specialize in a wide range of industrial products that include alloys, metals, minerals, chemicals and wood products.

SOURCE MFC Industrial Ltd.

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