American Superconductor names Ramesh L. Ratan as executive VP and CFO.WESTBOROUGH, Mass.--(BUSINESS WIRE)--Dec. 19, 1994--American Superconductor A material that has little resistance to the flow of electricity. Traditional superconductors operate at absolute zero (-459.67 degrees Fahrenheit or -273.15 degrees Celsius). Experiments in the 1980s raised the temperature to -321 degrees Fahrenheit. Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMSC AMSC Army Management Staff College AMSC American Mobile Satellite Corporation AMSC American Miniature Schnauzer Club AMSC Area Maritime Security Committee AMSC Acquisition Method Suffix Code AMSC Advanced Missile Signature Center ) announced today the appointment of Mr. Ramesh L. Ratan as executive vice president, corporate development and chief financial officer. His appointment becomes effective on Jan. 4, 1995. In this newly-created position, Ratan will be responsible for all of American Superconductor's finance and accounting operations. He also will play a key role in the development of business relationships and strategic alliances for the company, as well as investor relations Investor relations The process by which the corporation communicates with its investors. activities. Ratan, 44, is joining American Superconductor American Superconductor is a technology company based in Westborough, Massachusetts specializing in the design and manufacture of superconducting wires and power converters. It is listed on Nasdaq under the symbol AMSC. from Repligen Corp. (NASDAQ:RGEN), where he has served since 1986 as senior vice president, administration, chief financial officer and corporate secretary. He previously had 10 years of experience in financial analysis, manufacturing, marketing, industrial engineering and cost accounting at Bristol-Myers Corp. (NYSE NYSE See: New York Stock Exchange :BMY BMY Bristol Myers Squibb ). Ratan holds an M.S. in industrial engineering from Syracuse University and a B.S. in electrical engineering from Gwalior University in Gwalior, India. Greg Yurek, president and chief executive officer of American Superconductor, said, "Ramesh Ratan represents an exciting and important addition to our senior management team as we move into a phase of accelerated product development and the creation of additional strategic business alliances on a global basis. "His extensive background in the areas of engineering, finance, manufacturing and corporate development, and his relevant experience working with a high technology development-stage organization, will enable him to quickly make valuable contributions as we drive toward commercialization." Yurek added, "American Superconductor has in place a solid management team encompassing the vital areas of technology development, manufacturing, marketing, human resources and finance, that will provide the foundation necessary to continue expanding our leadership position in HTS HTS Heights HTS Harmonized Tariff System HTS High Throughput Screening (biomolecular assay screening) HTS High-Throughput Screening (Pharmaceutical Industry) HTS Harmonized Tariff Schedule wire products." American Superconductor Corp. is dedicated to the development of commercially viable applications of high temperature superconductor (HTS) technology. The company creates and develops materials and manufacturing processes for making flexible high temperature ceramic superconducting wires, wire products and systems. CONTACT: American Superconductor Corp., Westborough
Gregory J. Yurek, 508/836-4200
or
Makovsky & Co., New York
Rob Swadosh or Bernie Kilkelly, 212/532-6300
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