SOURCE: Altair Nanotechnologies, Inc.
RENO, NV--(Marketwired - Oct 3, 2013) - Altair Nanotechnologies, Inc. ("Altair") (NASDAQ: ALTI) today announced the appointment of Paula Conroy as the company's Chief Financial Officer.
"We are pleased to welcome Paula to the Altairnano team," said Mr. Richard W. Lee, Altair Nanotechnologies' Chief Executive Officer. "Paula brings a wealth of experience and a proven track record in finance, capital allocation and business expansion. I'm confident that Paula will be a valuable member of the management team and will contribute significantly to our commercialization activities, as well as to our manufacturing expansion in China."
Ms. Conroy joins Altairnano from Blue Bar Consulting, LLC, a consulting firm providing senior financial consulting and CFO services to small and medium size companies. Prior to her tenure at Blue Bar Consulting, Ms. Conroy held several CFO positions spanning both public and private entities. Ms. Conroy spent nearly 20 years with Ernst & Young LLP where she focused in three primary areas. Ms. Conroy headed the firm's employee benefit plans audit division. She also served as a mergers & acquisitions due diligence analyst assisting both private equity and corporate buyers. For the first 12 years of her career at Ernst & Young, Ms. Conroy specialized in auditing and financial consulting for a variety of companies concentrated primarily in the transportation, manufacturing, and financial services industries. She has experience assisting both public and private companies including experience with SEC reporting issues.
Ms. Conroy is a Certified Public Accountant. She attended Purdue University earning a Bachelor of Science in General Management and a Master in Business Administration. In addition, Ms. Conroy has lectured at Purdue University for the past two academic years.
About Altair Nanotechnologies, Inc.
Altair is a leading provider of high-power, energy storage systems for the electric grid, industrial equipment and transportation markets. The company's lithium titanate technology is built on a proprietary nano-scale processing technology that creates high-power, rapid-charging battery systems with industry-leading performance and cycle life. Altair is headquartered in Reno, Nevada and maintains operations in Anderson, Indiana; Zhuhai, China; and Wu'an, China. For additional information, please visit: www.altairnano.com.
This report may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause Altair's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this report. These risks include the risk that our revenue will not increase for various reasons, including our failure to close on expected orders; that our land use rights may be worth significantly less than the appraised or recorded value, particularly in light of the risk of forfeiture and the requirement that we make a substantial investment related to the property prior to pledging or selling the land use rights; that the Company will run into regulatory, finance or other obstacles as it attempts to expand its operations into China or other countries; that the company will be unable to close sales due to its pricing; the characteristics of its products, competing energy storage systems or alternatives to energy storage systems; that the Company will be unable to expand production capacity (or contract with its suppliers to expand their capacity) in order to meet the demand of product orders, particularly with respect to products like electric vehicles which the Company does not itself manufacture and will have to source from third parties; that the Company will not experience expected costs savings as a result of its expansion into China and that the Company will not experience an increase in sales volume or, even if it experiences such an increase, that the Company will experience low (or negative) gross margins and not operate profitably in China and generally. Other risks are identified in Altair's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC. Such forward-looking statements speak only as of the date of this release. Altair expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in Altair expectations or results or any change in events.