TEHACHAPI, Calif., Dec. 23, 2010 /PRNewswire/ -- Airstreams Renewables, Inc. (ARI) today announced details of the planned corporate restructuring to facilitate ongoing expansion into the renewable energy, oil and gas (E&P) and industrial service sectors.
Key developments of ARI's restructuring and expansion activities include:
- Karl W. Miller has been appointed Executive Chairman of ARI to expedite the expansion of ARI's business activities in the United States and International energy sector. Mr. Miller will continue to Chair the Board of Directors and oversee the investment banking and financial advisor selection committee in addition to coordinating the timing and structure of the required capital market activities to support the Company's expansion objectives.
- Jeff Duff, formerly Chief Operating Officer has been appointed Chief Financial Officer (CFO) of ARI. Mr. Duff will assume the duties of the CFO immediately in preparation for upcoming capital market initiatives and business expansion activities. Mr. Duff will remain on the Board of Directors as a management director.
- Lisa Gilbert, former Vice President of Academic Affairs has been appointed to the ARI Board of Directors as an independent director. Ms. Gilbert will no longer be an employee of ARI to meet the standards of an independent director of the Company.
- ARI intends to appoint two additional Independent Directors to the Company's Board and is in process of evaluating qualified candidates, which it expects to announce in the first quarter of 2011.
- ARI is in process of merging its U.S. and Canadian operating subsidiaries into a State of Delaware Corporation to facilitate capital market initiatives, corporate governance requirements, and to facilitate future growth. Upon completion of the merger, ARI will operate as a Delaware Corporation.
ARI's Tehachapi, CA training center expansion continues at an aggressive pace as the company continues to significantly expanding its ENSA North America subsidiary across the US and to deploy additional mobile training facilities, in addition to hiring and training technical trainers.
"We continue to aggressively execute on our business plan and this corporate restructuring is designed to ensure the execution and management of our growth plans continue moving expeditiously going into the first quarter of 2011," said Dave Schulgen, Founder and CEO.
Airstreams Renewables, Inc. (ARI) provides technical training and safety solutions throughout the global energy/industrial sectors, focused on the core skill sets designed to meet industry standard expectations for entry level, advanced construction and service technicians. Courses are instructed by industry experts with over 200 years of combined experience in the wind industry and global energy/industrial sectors. For additional information, visit our website at http://www.air-streams.com.
About ENSA North America
ENSA North America provides a direct and ongoing linkage to industry leaders providing height safety solutions that are helping to ensure regulatory compliance. For additional information, visit our website at http://www.ensa-northamerica.com.
SOURCE Airstreams Renewables, Inc.