Basin Water Names Michael M. Stark to Board of Directors
May 27 2008 - 7:35PM
Business Wire
Basin Water, Inc. (NASDAQ:BWTR) on May 22, 2008 the Board of
Directors (the �Board�) of Basin Water, Inc. (�Basin Water�)
appointed Michael M. Stark to serve as a member of Class I of the
Board. Mr. Stark joined Basin Water as its President in October
2006, approximately six months after the Company�s initial public
offering, and has served in the additional role of Chief Executive
Officer of Basin Water since February of 2008. Prior to joining
Basin Water, Mr. Stark served as President and Chief Executive
Officer of Veolia Water North America (formerly US Filter), a water
services company which Mr. Stark helped to grow to over $1.2
billion in annual revenues. Scott A. Katzmann, Chairman of the
Board, stated, �We are pleased to have Mike join the Board of
Directors. His forty plus years of experience in the water
treatment services business have been of enormous help to the
Company over the last year and a half. We look forward to his
contributions and insights on the Board as well as his continued
strong managerial contributions as Chief Executive Officer. His
experience and skills are appreciated as we continue to position
Basin Water as an innovative leader in providing water treatment
services to the municipal and industrial markets.� About Basin
Water Basin Water, Inc. is a provider of reliable, long-term
process solutions for a range of clients, which includes designing,
building and implementing systems for the treatment of contaminated
groundwater, the treatment of wastewater, waste reduction and
resource recovery. Basin Water employs treatment technologies
including its own proprietary, scalable ion-exchange wellhead
treatment system, along with a host of other treatment technologies
designed to meet customer needs in an efficient, flexible and cost
effective manner. Additional information may be found on the
company's web site: www.basinwater.com. Forward Looking Statements
This press release contains �forward-looking statements� within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements, including expectations relating to future
revenues and income, the company's ability to gain new business and
control costs, involve risks and uncertainties, as well as
assumptions that, if they prove incorrect or never materialize,
could cause the results of the company to differ materially from
those expressed or implied by such forward-looking statements.
Actual results may differ materially from these expectations due to
various risks and uncertainties, including: the company's limited
operating history, significant operating losses associated with
certain of the company's contracts, the company's ability to
identify and consummate other acquisition opportunities that
improve the company's revenues and profitability, significant
fluctuations in its revenues from period to period, its ability to
effectively manage its growth, the success of the company's
strategic partners, its long sales cycles, market acceptance of its
technology, the geographic concentration of its operations and
customers, its ability to meet customer demands and compete
technologically, the company's ability to protect its intellectual
property, regulatory approvals of the company's systems, changes in
governmental regulation that may affect the water industry,
particularly with respect to environmental laws, the company's
ability to attract and retain qualified personnel and management
members, the company's ability to manage its capital to meet future
liquidity needs, changes in the board of directors and the timing
of the company's stock repurchases, if any. More detailed
information about these risks and uncertainties are contained in
the company's filings with the Securities and Exchange Commission,
including the company's Annual Report on Form 10-K for the year
ended December 31, 2007 and subsequent Quarterly Reports on Form
10-Q. The company assumes no obligation to update these
forward-looking statements to reflect any change in future events.
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