PIRAEUS, Greece, May 22 /PRNewswire-FirstCall/ -- Aegean Marine
Petroleum Network Inc. (NYSE: ANW), an international marine fuel logistics
company that markets and physically supplies refined marine fuel and
lubricants to ships in port and at sea, announced today that it has
appointed Konstantinos Koutsomitopoulos to its Board of Directors. With the
addition of Mr. Koutsomitopoulos, Aegean has a total of seven Directors, of
which the majority remains independent.
Mr. Koutsomitopoulos, 40, has more than 17 years of industry
experience. Currently, he serves as an independent consultant to various
companies. From October 2004 to May 2007, Mr. Koutsomitopoulos was employed
at Diana Shipping Inc., a publicly traded company with shares listed on the
New York Stock Exchange. While at Diana, Mr. Koutsomitopoulos served as
President and Head of Corporate Development from March 2006 to May 2007,
and as Chief Financial Officer and Treasurer from February 2005 to March
2006. Mr. Koutsomitopoulos joined Pegasus Shipping Inc. in 1992. From 1997
to 2003, Mr. Koutsomitopoulos was responsible for chartering, sales and
purchasing and assisting in financing activities of the company, holding
the positions of Chief Executive Officer and, subsequently, Director.
Peter C. Georgiopoulos, Chairman, commented, "We are pleased to welcome
Konstantinos to Aegean's Board of Directors. His extensive industry
experience will provide added value as we seek to continue to take
advantage of the strong demand for our integrated marine fuel services and
expand our global reach for the benefit of the Company and its
shareholders."
Mr. Koutsomitopoulos graduated from the University of Athens in 1989
with a bachelor's degree in Economics and from City University Business
School in London in 1991 with a master's degree in Shipping,Trade and
Finance.
About Aegean Marine Petroleum Network Inc.
Aegean Marine Petroleum Network Inc. is an international marine fuel
logistics company that markets and physically supplies refined marine fuel
and lubricants to ships in port and at sea. As a physical supplier, the
Company purchases marine fuel from refineries, major oil producers and
other sources. The Company sells and delivers these fuels to a diverse
group of ocean-going and coastal ship operators and marine fuel traders,
brokers and other users through its service centers in Greece, Gibraltar,
Singapore, Jamaica, the United Arab Emirates, Northern Europe, West Africa
and the United Kingdom.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their
business. Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of
historical facts.
The Company desires to take advantage of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The
words "believe," "intend," "anticipate," "estimate," "project," "forecast,"
"plan," "potential," "may," "should," "expect" and similar expressions
identify forward-looking statements. The forward-looking statements in this
press release are based upon various assumptions, many of which are based,
in turn, upon further assumptions, including without limitation, our
management's examination of historical operating trends, data contained in
our records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are beyond
our control, we cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other important factors that,
in our view, could cause actual results to differ materially from those
discussed in the forward-looking statements include our ability to manage
growth, our ability to maintain our business in light of our proposed
business and location expansion, our ability to obtain double hull
secondhand bunkering tankers, the outcome of legal, tax or regulatory
proceedings to which we may become a party, adverse conditions in the
shipping or the marine fuel supply industries, our ability to retain our
key suppliers and key customers, material disruptions in the availability
or supply of crude oil or refined petroleum products, changes in the market
price of petroleum, including the volatility of spot pricing, increased
levels of competition, compliance or lack of compliance with various
environmental and other applicable laws and regulations, our ability to
collect accounts receivable, changes in the political, economic or
regulatory conditions in the markets in which we operate, and the world in
general, our failure to hedge certain financial risks associated with our
business, our ability to maintain our current tax treatments and our
failure to comply with restrictions in our credit agreements and other
factors. Please see our filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and uncertainties.
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SOURCE Aegean Marine Petroleum Network Inc.
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Related links:
http://www.ampni.com
CONTACT:
Aegean Marine Petroleum Network Inc.,
+1-212-763-5665, investor@ampni.com, or Investor Relations, Leon
Berman, Principal of The IGB Group, +1-212-477-8438, for Aegean
Marine Petroleum Network Inc.
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