BALLERUP, Denmark, March 27, 2013 /PRNewswire/ -- LiqTech International, Inc. (OTCQX: LIQT), a clean technology company that manufactures and markets highly specialized filtration technologies, announced today a new CEO to guide the Company.
Mr. Aldo Petersen, Chairman of LiqTech, stated, "We are extremely pleased that Finn Helmer, a proven leader, has agreed to accept the role as CEO of LiqTech. Over the course of more than 40 years Finn has in many different situations successfully demonstrated his talent for leading and growing companies into meaningfully larger and more profitable companies."
Mr. Petersen continued, "Mr. Helmer's record of success includes some notable transactions including, in particular, his role as CEO of GIGA A/S, a small company in the NKT Group. When he joined GIGA as its seventh employee, it had limited capital, was not profitable and had revenue of less than $1 million. In less than 5 years, GIGA employed 100 people, was generating revenues and pre-tax profit of $135 million and $73 million, respectfully. In 2000 Intel ( USA) acquired GIGA for $1.25 billion."
Mr. Petersen concluded, "Finn's ability to grow small technologically advanced companies is going to be invaluable to LiqTech, particularly as we enter into a very important period for our silicon carbide membrane technology. I look forward to Finn's leadership and enthusiastically support his addition to the management team."Finn Helmer stated, "I am proud to be associated with LiqTech. I have studied its technology and I see many similarities to GIGA. LiqTech has a new and disruptive technology, with unique competitive advantages, in large and growing markets, where the need for new solutions in its targeted end markets provides great growth potential. My goal is to help LiqTech become Denmark's next GIGA." Lasse Andreassen, LiqTech founder and former CEO, stated, "I fully support Finn's joining LiqTech. Finn brings the technological background to understand and appreciate the value of LiqTech's disruptive silicon carbide membrane technology as well as the business acumen to help it flourish. With Finn joining the Company in his new role, I can focus on refining our production processes and continuing to develop additional products and technological advances of our silicon carbide membranes. I am excited to work with Finn in building LiqTech. I believe this move should be very beneficial for LiqTech, its customers and its shareholders." ABOUT LIQTECH INTERNATIONAL, INC. LiqTech International, Inc., a Nevada corporation, is a clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly, highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. It also manufactures kiln furniture. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology. LiqTech's products are based on unique silicon carbide membranes, which facilitate new applications and improve existing technologies. For more information, please visit www.liqtech.com. Forward-Looking Statements This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
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