SOURCE: Consolidated Water Co. Ltd.

Consolidated Water Co. Ltd.

September 21, 2010 17:39 ET

Mr. Brent Brodie Joins Consolidated Water Co. Ltd. as Director of Sales and Marketing

Mr. Gerard Pereira Designated Vice President of Product Technology

GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS--(Marketwire - September 21, 2010) -  Consolidated Water Co. Ltd. (NASDAQ: CWCO), which develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent, today announced certain executive changes within its management organization.

Mr. Brent Brodie, who has joined the Company as Director of Sales and Marketing, comes to Consolidated Water after spending the previous twelve years (1998-2010) serving in a variety of positions with GE Water and Process Technologies. From 2006 until September 2010, he was Capital Equipment Sales Manager for the Caribbean region and was responsible for the management of multiple market channels, including Direct Sales, Indirect Distribution, Sales Representatives, Joint Ventures and OEMs. His accomplishments during this period included the negotiation of a $35 million build-own-operate contract expansion at Atlantis Bahamas, a $7 million-per-year mobile seawater desalination contract at the Valero refinery in Aruba, and a $15 million contract to supply all of the potable water for the Island of Bonaire. During the years 2003-2006, following GE's acquisition of Osmonics, Mr. Brodie led a team of seven sales engineers with responsibility for sales growth in the Municipal, Pharmaceutical, Beverage and Automotive markets. From 1998 until 2003, he served as U.S. Municipal Market Manager for Osmonics, a vertically integrated supplier of reverse osmosis and ultrafiltration equipment, components and controls, and a leading maker of crossflow membrane elements.

During the years 1992-1998, Mr. Brodie was a Sales Manager for Safety Kleen, where he was responsible for hazardous waste incineration and landfill services growth in the Michigan territory for heritage USPCI and Aptus facilities. From 1989-1992, he was a Technical Sales Specialist for Betz MetChem, where he was responsible for sales of engineered water treatment solutions to the automotive industry.

Mr. Brodie received his Bachelor of Science in Chemical Engineering from the University of Minnesota and his Master of Business Administration (Marketing Emphasis) from the University of Michigan, Ann Arbor.

The Company also announced that Mr. Gerard Pereira has been designated Vice President of Product Technology. Mr. Pereira, who received his Bachelor of Science and Master of Science in Chemical Engineering from the University of Waterloo, Ontario, Canada, joined Ocean Conversion (Cayman) Limited ("OCC") as Operations Engineer in 1995, and later served as OCC's Operations Manager. After Consolidated Water's acquisition of OCC in February 2003, he served as Vice President of Engineering and later Vice President of Sales and Marketing at the Company. 

Mr. Pereira's accomplishments include the successful engineering, construction and commissioning of the Blue Hill desalination plant in Nassau, Bahamas, which was completed on schedule in July 2006. The Blue Hill plant is the Company's largest desalination plant to date, with a production capacity of 7.2 million US gallons per day, and is one of the most energy efficient plants in the world for its size. Mr. Pereira was also responsible for the successful completion of a non-revenue water reduction project for the government-owned water utility in Nassau, The Bahamas that reduced water distribution losses by 20%, or approximately 1.2 million gallons of water per day. He successfully negotiated capacity expansions and operating contract extensions for three seawater desalination plants in the Cayman Islands, and negotiated a contract to construct the largest seawater reverse osmosis plant in the Cayman Islands, the 2.4 million gallon per day state-of-the-art facility at Frank Sound, Grand Cayman. 

In his new position, Mr. Pereira will be responsible for ensuring that the Company's products and deployed technologies continue to be the most energy efficient and cost-effective in the marketplace. He will also oversee all aspects of the Company's product research and development activities, quality assurance functions, and the development of relationships with external technology partners capable of contributing relevant technologies to the Company's business.

"I am very pleased to announce these changes within our management team, which we believe will strengthen Consolidated Water's ability to further penetrate the Caribbean market and effectively target markets in new geographic areas, while assuring that our operations remain among the most efficient in the world," stated Mr. Rick McTaggart, Chief Executive Officer of Consolidated Water Co. Ltd.

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About Consolidated Water Co. Ltd.

Consolidated Water Co. Ltd. develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. The Company operates water production and/or distribution facilities in the Cayman Islands, Belize, the British Virgin Islands, The Commonwealth of The Bahamas and Bermuda.

Consolidated Water Co. Ltd. is headquartered in George Town, Grand Cayman, in the Cayman Islands. The Company's ordinary (common) stock is traded on the NASDAQ Global Select Market under the symbol "CWCO". Additional information on the Company is available on its website at http://www.cwco.com.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect," "should" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, changes in its relationship with the Governments of the jurisdictions in which it operates, the ability to successfully secure contracts for water projects, the ability to develop and operate such projects profitably and the Company's ability to manage growth and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact Information

  • For further information, please contact:

    Frederick W. McTaggart
    President and CEO
    (345) 945-4277
    or
    David W. Sasnett
    Executive Vice President and CFO
    (954) 427-6283
    info@cwco.com
    http://www.cwco.com
    or
    RJ Falkner & Company, Inc.
    Investor Relations Counsel
    (800) 377-9893
    info@rjfalkner.com