Basin Water Appoints Richard A. Reese as Vice President, Marketing.Industry Veteran Will Be Instrumental in Positioning Company Offerings During Planned Technological, Geographical and Municipal/Industrial Market Expansion RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k 'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif. -- Basin Water Inc. (NASDAQ NASDAQin 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 :BWTR) announced the appointment of Mr. Richard A. Reese to the position of Vice President, Marketing. The appointment follows closely on Basin's recent acquisition of Mobile Process Technology, Co. (MPT MPT Maryland Public Television MPT Modern Portfolio Theory (investing) MPT Ministry of Posts and Telecommunications MPT Message-Passing Toolkit MPT Master of Physical Therapy MPT Mitochondrial Permeability Transition ) and represents another important step in the company's plans for geographical expansion, entry into the industrial market and the integration of new technologies into its customer-focused technology+services municipal business model. Mr. Reese is a fifteen year veteran in marketing, sales and integration of technology into service-based businesses for the industrial and municipal water and wastewater markets. Immediately prior to joining Basin Water, he served as Vice President and General Manager, Aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. for Siemens Water Technologies, a world leader in water and wastewater products, equipment and service. In his new role, Mr. Reese will be responsible for aligning Basin Water's technology and services offerings with the needs of the marketplace and for delivering top-notch performance for customers as the company grows geographically throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mike Stark W. (Wilfred) Michael "Mike" Stark is an American author, activist, and commentator with Air America Radio.[1] He also contributes to blogs such as Daily Kos, and was a panelist at the 2007 Yearly Kos convention. , President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Basin Water, the appointment of Mr. Reese represents another addition to the company's growing team of experienced, professional managers, and will be instrumental in the company's plans for orderly expansion of both its technology+service offering and its geographical presence. "Richard Reese's strong track record of team building, along with his proven ability to creatively stimulate growth and profit within complex services-oriented organizations, makes him the perfect fit for Basin's marketing needs through this dynamic transitional period and beyond," said Stark. "While we envision that our growth, both technically and geographically, will be partly driven by the accurate identification and assessment of new business opportunities - an area where Richard excels -- it's equally important to Basin Water that we continue to refine our performance in existing markets and for our current client base. Richard also brings us tools to ensure our understanding of client needs and long-term customer satisfaction as we move forward," he added. The Basin Water business model of solution development - providing proprietary, customized technology on a service basis supported by a performance guarantee - has achieved acceptance in the municipal drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. treatment industry. The company now intends to grow into a larger national presence in both this market and in the industrial market, utilizing the same business model while offering customers a wider range of technology. According to Stark, Reese's appointment underscores the company's dedication to keeping a tight focus on customer satisfaction while increasing its scale of operations. "We feel that our great strength has been in the delivery of superior, guaranteed solutions to our clients along with the service assurance that Basin Water will be there to support them in the long term," Stark said. "During this period of growth, we view it as critical to maintain that close, 'local' relationship with all our clients even as we move onto a much larger playing field. Richard Reese has the talent and marketing experience to drive our growth into new areas and keep us fully attentive to customer needs," he added. During his 10-year tenure with USFilter and Siemens Water Technologies, Mr. Reese also held positions as Senior Vice President, Marketing - Services Group, Vice President - Customer Service and Satisfaction, and Vice President and General Manager - Recovery Services Southwest. He has also served in operating and business development roles in the hydrocarbon recycling, waste management and pipeline engineering industries. He resides in Houston, TX. 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 contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. groundwater, the treatment of wastewater, waste reduction and resource recovery. Basin Water employs treatment technologies including its own proprietary, scalable ion-exchange wellhead well·head n. 1. The source of a well or stream. 2. A principal source; a fountainhead. 3. The structure built over a well. wellhead Noun 1. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements, including expectations relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 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 operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. 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 and the company's ability to manage its capital to meet future liquidity needs 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2006 and subsequent Quarterly Reports on Form 10Q. The company assumes no obligation to update these forward-looking statements to reflect any change in future events. |
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