American Access Technologies Board of Directors Appoints Adams President and Chief Operating Officer
September 06 2006 - 10:30AM
PR Newswire (US)
KEYSTONE HEIGHTS, Fla., Sept. 6 /PRNewswire-FirstCall/ -- American
Access Technologies, Inc. (NASDAQ:AATK) reported that its board of
directors has appointed Tim Adams President and chief operating
officer effective September 1, 2006. Adams has served as Vice
President - Sales and Marketing since January 1, 2005. Adams
succeeds interim president Erik Wiisanen who continues in his role
of Vice President - Sales and Marketing of the Company's Omega
Metals Division. Adams has been responsible for directing sales and
marketing for both the patented zone cabling/wireless division and
the contract manufacturing division of the Company. He brings over
thirty years of experience in sales, marketing, engineering and
manufacturing to American Access. From 1991 to 2004, Adams was with
Metcam, Inc., where he was director of sales, increasing sales
fivefold and diversifying their products into additional markets.
Prior to Metcam, he spent over three years at Belcan Corporation
and over three years at Canron Industries, Inc., where he led
successful sales and marketing campaigns. Prior to that, he was
involved in product development and in manufacturing. He earned an
M.B.A. from Xavier University and received his Bachelor of Science
degree in industrial engineering from Purdue University. In making
the announcement, board chairman Howard Kelley cited Adam's
industry and management experience as prime factors in the
selection process. "Tim Adams has already established he can make a
difference in creating success for the company. As President, he
can now begin to implement deeper strategic emphasis and strengthen
the underlying foundation of the company to move it to its next
level." "The Board believes Tim's objectives and the Board's
objectives toward enhancing shareholder value are in synch. Sales
growth, profit expansion and a long-term perspective are at the
core of those objectives." Adams stated, "I am excited about
American Access Technologies long term opportunity for profitable
growth. The entire American Access team is committed to our
continued focus on sale growth, cost control, and manufacturing
efficiencies. Our long-term prospects look bright as we build on
the base of our patented products, our strategic partnerships and
our people. We look forward to the prospect of accelerating this
growth with our potential combination with M&I Electric
Industries, Inc." Chairman Kelley emphasized that "CFO Joe McGuire
and sales vice president Erik Wiisanen will play key roles in
supporting Adams as he implements his financial and operational
planning. The Board recognizes Erik's role as interim president
during the selection process. Joe McGuire never allowed the
financial operations of the company to skip a beat during the
summer of change." Update on M&I Electric On July 6th, the
Company announced a letter of intent to combine with M&I
Electric Industries, Inc., a Houston-based provider of a wide range
of switchgear, drives and other electrical products and services
primarily to the energy industry. We are in the process of
negotiating a definitive share exchange agreement with M&I and
its stockholders. Upon execution of the definitive agreement we
shall seek the approval of our stockholders at a meeting which we
now expect to hold in the fourth quarter of this year. About
American Access Technologies, Inc. American Access manufactures
patented zone cabling and wireless enclosures that mount in
ceilings, raised floors, and in custom furniture, for routing of
telecommunications cabling, fiber optics and wireless solutions to
the office desktop. The Company's concept of "zone cabling" reduces
costs for initial network installation and facilitates moves, adds,
changes and upgrades for the network installations of today and
tomorrow. Our Omega Metals division manufactures its proprietary
products, and also employs state-of-the-art metal fabrication and
finishing techniques to public and private companies and U.S.
government contractors. Our Company SEC filings, news and
product/service information are available at http://www.aatk.com/.
Investor Notice: American Access Technologies, Inc. will file a
proxy statement and other documents with the Securities and
Exchange Commission in relation to the proposed business
combination with M&I Electric Industries, Inc. Investors and
shareholders are urged to carefully read these documents when they
become available because they will contain important information
concerning American Access Technologies, Inc., M&I Electric
Industries, Inc. and the proposed business combination. A
definitive proxy statement will be sent to shareholders of American
Access seeking their approval of the transactions contemplated in
connection with the business combination. Investors and security
holders may obtain a free copy of the proxy statement (when it is
available) and other documents containing information about
American Access, without charge, at the SEC's website at
http://www.sec.gov/. Copies of the American Access proxy statement
and the SEC filings that will be incorporated by reference in the
proxy statement may also be obtained free of charge by directing a
request to Joseph McGuire, CFO of American Access, at (352)
473-6673, by e-mail to or by accessing its website at
http://www.aatk.com/. American Access Technologies, Inc. and its
officers and directors may be deemed to be participants in the
solicitation of proxies from its shareholders. Information about
these persons and a description of their direct or indirect
interests, by security holdings or otherwise, can be found in
American Access' Annual Report on Form 10-KSB filed with the SEC,
and additional information about such persons may be obtained from
the proxy statement related to this transaction when it becomes
available. This announcement shall not constitute an offer to sell
or the solicitation of an offer to buy any securities. The
securities to be offered have not been registered under the
Securities Act of 1933 and may not be offered or sold in the United
States absent registration or an applicable exemption from
registration. Cautionary Note Concerning Forward-Looking
Statements: This announcement contains forward-looking statements
regarding M&I and the expected impact of the acquisition of
M&I on American Access' business operations and financial
results. Those statements involve risks and uncertainties, and
actual results could differ materially from those discussed.
Factors that could cause or contribute to such differences include,
but are not limited to, the timing of the closing of the
transaction and the possibility that the transaction may not close.
While American Access believes that such forward-looking statements
are based on reasonable assumptions, there can be no assurance that
they will be achieved or achieved on the schedule indicated.
Furthermore, unanticipated future events, economic conditions and
financial trends may affect future revenues, operating results and
financial position. Investors are cautioned that these
forward-looking statements are not guarantees of future
performance. Other risks and uncertainties are set forth in
American Access' SEC filings. The Company assumes no obligation to
publicly update or revise its forward-looking statements even if
experience or future events make it clear that any of the projected
results expressed or implied herein will not be realized. Company
Contact: Joe McGuire, Chief Financial Officer (352) 473-6673/
DATASOURCE: American Access Technologies, Inc. CONTACT: Joe
McGuire, Chief Financial Officer of American Access Technologies,
Inc., +1-352-473-6673, or Web site: http://www.aatk.com/
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