Arabian American Appoints Gary K. Adams As Director
SUGAR LAND, Texas, Nov. 7, 2012 /PRNewswire/ -- Arabian American Development Co. (NYSE: ARSD) today announced that it has appointed Gary K. Adams to the position of Director effective November 15, 2012. Mr. Adams will also be a member of the Company's nominating, compensation and audit committees.
Nick Carter, President and Chief Executive Officer, commented, "We are delighted that Gary is joining our Board. He is very well-known and respected in the global petrochemical and plastics industries. He has extensive international experience and a broad understanding of chemical markets and has strong leadership abilities which will assist the Company in identifying future growth opportunities."
Mr. Adams has over 35 years experience in the global petrochemical and plastics industries. He earned a BS in Industrial Management from the University of Arkansas before joining Union Carbide Corporation where he advanced through several manufacturing and commercial assignments during the following 15 years. Subsequently, he joined Chemical Market Associates Inc. (CMAI) as director of the Monomers Market Advisory Services, progressing to the position of this highly respected firm's President from 1997 until its acquisition by IHS in 2011. He is currently the Chief Advisor – Chemicals for IHS.
Mr. Adams commented, "I look forward to supporting the Company's vision including its execution of short- and long-term strategies and am excited about opportunities to continue a path of expansion of the overall business. Arabian American Development Company's petrochemical subsidiary, South Hampton Resources, has a leadership position and an outstanding reputation in the specialty petrochemical industry and is well-positioned to capitalize on emerging opportunities in the marketplace."
About Arabian American Development Company (ARSD)
ARSD owns and operates a petrochemical facility located in southeast Texas, just north of Beaumont which specializes in high purity petrochemical solvents and other solvent type manufacturing. The Company is also the original developer and a 37% owner of Al Masane Al Kobra Mining Co., a Saudi Arabian joint stock company.
Statements in this release that are not historical facts are forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon management's belief as well as assumptions made by and information currently available to management. Because such statements are based upon expectations as to future economic performance and are not statements of fact, actual results may differ from those projected. These risks, as well as others, are discussed in greater detail in Arabian American's filings with the Securities and Exchange Commission, including Arabian American's Annual Report on Form 10-K for the year ended December 31, 2011, and the Company's subsequent Quarterly Reports on Form 10-Q.
SOURCE Arabian American Development Co.