SOURCE: HII Technologies, Inc.

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December 15, 2014 08:00 ET

HII Technologies, Inc. Announces Appointment of New Chief Financial Officer

HOUSTON, TX--(Marketwired - December 15, 2014) - HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management, oilfield power and safety services headquartered in Houston, Texas, today announced the hiring of Acie Palmer, CPA as the Company's new Chief Financial Officer (CFO). In connection with Mr. Palmer's appointment as CFO, Matt Flemming resigned as the Company's CFO. Mr. Flemming continues to serve as the Company's Chairman and Chief Executive Officer.

Acie Palmer has over 30 years of management experience including strategic financial planning and analysis, treasury management, capital raising, and operations in several industries including direct experience in the oilfield services industry ranging from startup organizations to larger publicly traded companies generating $1.8 billion in annual revenues.

Most recently, Mr. Palmer was the Chief Financial Officer for Certus Energy Solutions, a private equity-backed oil country tubular goods (OCTG) startup that successfully grew rapidly from its inception in 2013 and capitalized with approximately $75 million in debt and equity during his tenure. Previously, Mr. Palmer held positions ranging from Vice President of Operations, Corporate Assistant Treasurer and Director of Planning and Analysis at Key Energy Services (KEG) and Division Controller at Basic Energy Services Inc. (BAS). Mr. Palmer is a certified public accountant, licensed in Texas. In addition, Mr. Palmer received Key Energy Services' 2011 Chairman's Award For Outstanding Performance. 

"Acie's impressive financial background with larger publicly traded oilfield services companies, including his extensive knowledge of public company operations, financial reporting requirements, financial auditing standards and M&A and divestiture advisory as well as recent success at a high growth private equity-backed start up, were requisite qualifications for a new Chief Financial Officer," commented Matt Flemming, Chief Executive Officer of HII Technologies. "As we continue to grow both organically and through accretive acquisitions, we believe Acie's experience managing the financial strategy of high growth multiple divisions at previous oilfield services companies will serve our firm and its shareholders well," continued Mr. Flemming. "Further, we expect the segregation of the Chief Executive Officer and Chief Financial Officer duties will strengthen our internal controls and procedures."

The Company's board of directors permitted Mr. Palmer to purchase $50 thousand of HIIT restricted common stock directly from the Company on his start date. 

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AESWaterSolutions.com, www.AquaTexUSA.com, www.HamiltonFracWater.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2014. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

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