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DGAP-Media / 2018-09-25 / 09:28
*Luxembourg / Zwanenburg, The Netherlands - September 25, 2018. *3W Power
S.A., the holding company of AEG Power Solutions Group, a global provider of
UPS systems and power electronic solutions for industrial, commercial,
renewable and distributed energy markets, today announces the appointment of
new Board of Directors and commences development as a private company.
On September 14, Lamberto Tassara, Michel Augonnet and Richard Thomson were
appointed to serve until 2024 as Non-Executive Directors to the Board of
Directors of 3W Power S. A., the holding company of AEG Power Solutions.
This follows the final steps to the Company's consolidation of ownership
through its debt for equity swap of its Senior facilities. Two institutional
investors now hold 84% of the share capital and 100% of the company's debt.
A clean and recapitalized balance sheet and a stable business allow the new
Directors and management team to dedicate all of their efforts on serving
customers, growing markets and developing opportunities in AEG PS' core
strengths of power conversion. The appointment of the directors underscores
the investors' commitment to bring the best talent to strengthen the
company's execution and ensure a prosperous future for the business.
*Lamberto Tassara*
Former President of Power Systems EMEA, Emerson Network Power and President
UPS for Chloride PLC, spent his full career with world class companies in
power conversion. Extensive experience in R&D, product development, sales,
marketing and customer care/service. Developed sustainably profitable
business activities in a variety of applications including Data Center,
Industrial Infrastructure (E.g., Oil & Gas, Power Generation, Transmission &
Distribution, Nuclear), General Industry, and Renewables. And notably, a
strong track record building service networks dedicated to customer intimacy
and fostering loyalty.
*Michel Augonnet*
President of MVA Connect, a consultancy for Energy. He served in several
Senior management positions in power businesses notably as Senior Vice
President of Alstom Grid. Currently is VP Finance for CIGRE, President of
Super Grid Institute (Lyon), MD at Conquest Advisory, and Director for Actom
PTY (South Africa).
*Richard Thomson*
Specialist turnaround director, with 20 years experience in credit advisory,
special situations investing and board turnaround. Specific focus on
delivering positive financial results following company restructurings. He
has served in multiple positions as advisor, investor and on the
company-side director, across a wide variety of sectors (including power),
and for a wide range of companies (blue-chip corporates, SME, governments).
His career includes senior positions at Pelican Rouge, Alcentra and
Rothschild.
=-- End of Announcement---
*About 3W Power/AEG Power Solutions:*
3W Power S.A., based in Luxembourg, is the holding company of AEG Power
Solutions Group. The Group is headquartered in Zwanenburg in the
Netherlands.
AEG Power Solutions is a leading provider of UPS systems and power
electronic solutions for industrial, commercial, renewable and distributed
energy markets throughout the world with main sites in France, Spain,
Germany, Singapore and China, with further direct 14 sales and service
offices worldwide.
For more information, visit www.aegps.com [1]
This communication (including any documents referenced herein) does not
constitute an offer or the solicitation of an offer to buy, sell or exchange
sany securities of 3W Power. This communication contains forward-looking
statements which include, inter alia, statements expressing our
expectations, intentions, projections, estimates, and assumptions. These
forward-looking statements are based on the reasonable evaluation and
opinion of the management but are subject to risks and uncertainties which
are beyond the control of 3W Power and, as a general rule, difficult to
predict. The management and the company cannot and do not, under any
circumstances, guarantee future results or performance of 3W Power and the
actual results of 3W Power may materially differ from the information
expressed or implied in the forward-looking statements. As a result,
investors are cautioned against relying on the forward-looking statements
contained herein as a basis for their investment decisions regarding 3W
Power. 3W Power undertakes no obligation to update or revise any
forward-looking statement contained herein.
*For further enquiries please contact:*
Christian Hillermann
Hillermann Consulting
Investor Relations for AEG Power Solutions
Tel.: +49 40 320 279 10
Email: investors@aegps.com
End of Media Release
Issuer: 3W Power S.A. / AEG Power Solutions
Key word(s): Enterprise
2018-09-25 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: 3W Power S.A. / AEG Power Solutions
19, rue Eugène Ruppert
L-2453 Luxemburg
Luxemburg
Phone: +31 20 4077 800
Fax: +31 20 4077 801
Internet: www.aegps.com
ISIN: LU1072910919
WKN: A114Z9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich
End of News DGAP Media
726789 2018-09-25
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(END) Dow Jones Newswires
September 25, 2018 03:28 ET (07:28 GMT)
