GEORGE TOWN, Cayman Islands, May 21, 2019 /PRNewswire/ -- Consolidated Water Co. Ltd. (Nasdaq Global Select Market: CWCO), a leading developer and operator of seawater desalination plants, has appointed Jamie Bryan to the new position of vice president of manufacturing.
The company's manufacturing business manufactures custom and specialty water treatment-related systems and products and provides design, engineering, management, operating and other services applicable to commercial, municipal and industrial water production.
Bryan brings to Consolidated Water more than 22 years of operational management experience in engineering, manufacturing, plant integration and development, product development, and distribution.
"We welcome to our team Jamie's strong leadership experience with engineered-to-order manufacturing," commented Consolidated Water CEO, Rick McTaggart. "His knowledge and experience in continuous improvement principles will play an important role as we grow our manufacturing business. We believe people are our most important asset, with management team investments like Jamie supporting our growth objectives."
Consolidated Water recently reported $17.0 million in revenues for the first quarter of 2019, up 17% versus the same year-ago quarter. The growth was primarily driven by a $2.5 million revenue increase by the manufacturing segment. Based on committed purchase orders, the company expects its manufacturing segment performance in 2019 to exceed its year-ago results.
"I'm fortunate to join Consolidated Water at this exciting stage of its growth and development, as it looks to expand into new markets and complementary product lines, diversify revenue streams and widen its geographic footprint," commented Bryan. "The last quarter's uptick in manufacturing revenue, combined with improved backlog, demonstrates the tremendous opportunities ahead."
Prior to joining Consolidated Water, Bryan served as general manager for a world-leader in bakery automation solutions, where he drove revenue from $16 million to $45 million while increasing EBITDA margin from 8% to 16.1% over two years.
Earlier, Bryan assumed increasing responsibilities at a family of manufacturing companies, including a global leader in water distribution and infrastructure products. He managed all aspects of the business, including sales, distribution, plant management, and product development. He helped drive annual sales to $19 million by developing product placement strategies that aligned customer expectations to plant capabilities. He also previously served as electrical and mechanical engineer at a national water systems provider, as well as a plant manager for a custom architectural stone manufacturer.
Bryan holds a Master of Business Administration, a B.S. in Mechanical Engineering and a B.S. in Electrical Engineering from Kent State University.
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 there are scarce amounts of naturally occurring potable water. The company operates facilities in the Cayman Islands, British Virgin Islands, The Bahamas, and Indonesia. The company also manufactures and services a wide range of products and provides design, engineering, management, operating and other services applicable to commercial and municipal water production, supply and treatment, and industrial water and wastewater treatment in the United States. For more information, visit www.cwco.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "intend", "expect", "should", "will" 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 relationships with the governments of the jurisdictions in which it operates, the outcome of its negotiations with the Cayman government regarding a new retail license agreement, its ability to successfully secure contracts for new water projects, including the project under development in Baja California, Mexico, its ability to develop and operate such projects profitably, its ability to renew existing bulk water supply contracts, its ability to collect its delinquent accounts receivable in the Bahamas, and its ability to manage growth and other risks detailed in the company's periodic report filings with the Securities and Exchange Commission. Except as otherwise required by law, the company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
David Sasnett
Executive Vice President and CFO
Tel (954) 509-8200
dsasnett@cwco.com
Consolidated Water Investor Relations Contact
Ron Both, CMA
Tel (949) 432-7566
CWCO@cma.team
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SOURCE Consolidated Water Co. Ltd.
