SUGAR LAND, Texas, March 22, 2013 /PRNewswire/ -- Arabian American Development Co. (NYSE: ARSD) today announced that Simon Upfill-Brown has been promoted to the position of president of its wholly owned subsidiary, South Hampton Resources, Inc. (SHR), effective April 1, 2013. Mr. Upfill-Brown joined the Company in September 2012 as Executive Vice President. Since then he has primarily been working on diversifying the product line, broadening the customer base and expanding current opportunities both domestically and internationally. The position of president of SHR had been held since 1987 by Nick Carter, who will remain President and CEO of ARSD. Nick Carter commented, "Simon is very well known and respected in the chemical industry. He has multiple-industry experience, from start-ups to multi-national organizations, in managing effective operations for long-term growth and profitability. His extensive operational knowledge and skills, and strategic business planning expertise, combined with a proven ability to identify and capture market opportunities for accelerated expansion, will be key to his effectiveness with our South Hampton Resources unit." Mr. Carter continued, "As our mining venture has demanded more of my time, we felt it was appropriate to spread the responsibility of management of the petrochemical subsidiary to Simon. He certainly has the background and expertise to help it continue to grow and be successful." Mr. Upfill-Brown has over 20 years senior level experience in international management of coatings, chemicals and renewable resources. Most notably, from 1993 he was President and CEO of Haltermann Inc., a North American provider of custom chemical manufacturing services to major chemical companies. Haltermann was a subsidiary of Ascot plc until its acquisition by The Dow Chemical Company in June 2001. As General Manager of Dow Haltermann from 2001 - 2008, he successfully integrated operations in four countries from five different entities for the newly formed $230 million global business unit that offered custom manufacturing services to the performance chemical industry. He was effective in blending the entrepreneurial, agile culture of Haltermann with the disciplined, work process-driven culture of Dow. During this time, he grew the EBIT of Dow Haltermann by $70 million in five years. Mr. Upfill-Brown was also CEO of his own consulting firm, as well as CEO of a venture-backed algae-to-fuels company spun out of MIT in 2001, and COO of a technology start-up focused on converting organic waste to hydrocarbon fuels. He began his career in the paint and protective coatings industry. He holds undergraduate degrees in chemistry and mathematical statistics from Stellenbosch University, South Africa and an MBA from Stanford Graduate School of Business. Mr. Upfill-Brown commented, "I look forward to making a contribution to the Company's near- and long-term strategies and I am eager to help expand the overall business. South Hampton Resources has a leadership position, an outstanding reputation for excellence in the specialty petrochemical industry and is well-positioned to capitalize on emerging opportunities in the marketplace."
Shares of Arabian American Development Company (Nasdaq:ARSD) have taken a tremendous swing upward. The stock is trading at $8.43 as of 9:33 a.m. ET, 22.3% above Friday's closing price of $6.89. Volume is at 36,105, 1.5 times the daily average of 23,900.