Correcting and Replacing: STW Resources Holding Corp. Names Jeffrey R. Garwood, Former CEO of GE Water & Process Technologies, as Consultant to CEO
The press release below corrects and replaces a press release issued earlier today, June 21, 2010. The prior press release erroneously stated that Jeffrey R. Garwood would join STW's Advisory Board. Instead, Mr. Garwood will serve as a consultant to Stanley Weiner, chief executive officer of STW Resources. The corrected press release in its entirety is below.
MIDLAND, Texas, June 21 /PRNewswire/ -- STW Resources Holding Corp. ("STW Resources"), a water reclamation company, which expects to be publicly traded soon, reported that Jeffrey R. Garwood, former president and CEO of General Electric Water & Process Technologies, Trevose, PA, has agreed to serve as a personal consultant to Stanley Weiner, chief executive officer of STW Resources.
Having worked with McKinsey & Co., DuPont and start-up companies as well as GE, Garwood currently is a consultant to companies in the clean technology area. He advises them on strategic planning and execution.
Stanley Weiner, chief executive officer of STW Resources, said, "Garwood brings an invaluable knowledge of water technologies and equipment as well as specific experience in managing the growth of a water reclamation company. His advice will help guide STW's strategic growth as the emerging leader in water reclamation."
Garwood will augment STW's Advisory Board, including members Stephen Schachman, D. Grant Seabolt, Jr. and Z. Hunter Hill, in executing STW Resources' immediate program to capitalize on the water reclamation opportunities in Pennsylvania's Marcellus Shale. The company, which has recently applied to go public and is awaiting the designation of its trading symbol, executed a term sheet to obtain $5 million in funding from Kodiak Capital Group, LLC.
Garwood served as president and CEO of GE Water & Process Technologies, a $2.5+ billion business unit of GE Infrastructure, from 2006 to 2009. He joined GE in 1992, in business development and sourcing at GE's global headquarters, and later served in a variety of management roles at GE Plastics, including global M&A, leading the Engineered Styrenics Resins business and plant management responsibilities.
He worked outside GE from 1999 to 2001, as chief operating officer for Commerx and Youcentric, early stage IT firms. He rejoined GE Aircraft Engines in 2001 as president of Garrett Aviation Services and was named president and CEO of GE Fanuc Automation in 2003.
Garwood began his career in 1984 as a process engineer with DuPont with responsibilities for water treatment, powerhouse and boiler management, air compression and Nitric Acid production. After DuPont, he spent more than more than four years as a consultant with McKinsey & Co., focusing on business development, change management and strategic business modeling.
"The assistance of Jeff Garwood advances the company in its goal to becoming the leading public water reclamation company addressing the contaminated water issues in the Marcellus Shale and other areas in the US and abroad," said Weiner.
About STW Resources
STW Resources, Inc., Midland, Texas, provides customized water reclamation services. STW's core expertise is an understanding of water chemistry and its application to the analysis and remediation of complex water reclamation projects. STW provides a complete solution throughout all phases of a water reclamation project, including analysis, design, evaluation, implementation and operations. For more information, go to: www.stwresources.com.
SOURCE STW Resources Holding Corp.
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