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RNS Number : 1689N
Clean Diesel Technologies, Inc
11 February 2009
Clean Diesel Technologies Announces Appointment of
Michael L. Asmussen as President, CEO and Director
Bridgeport, CT - February 11, 2009 - Clean Diesel Technologies, Inc.
(NASDAQ:CDTI; XETRA:CDIA; AIM:CDT), the cleantech emissions reduction company,
today announced the appointment of Michael L. Asmussen, 38, as President, Chief
Executive Officer and Director in place of Dr. Bernhard Steiner who has resigned
from the Company.
Dr. Steiner has given valuable service to the Company, especially in the
development of our International markets. As the company continues its evolution
towards focused execution and growth with critical focus on the Americas,
Michael's background and prior experience positions him well to lead the company
into this next phase of commercialization.
Prior to joining Clean Diesel Technologies in September 2008, from 1996 to 2007,
Mr. Asmussen held a variety of positions at Eaton Corporation, a diversified
power management company with 2007 sales of $13 billion. Between 2005 and 2007,
Mr. Asmussen managed the Mirror Controls Division sales and marketing team where
his primary focus was driving global growth strategies, and during this time he
helped significantly increase sales. In 2007, he led the divestiture of the
Mirror Controls Division and became Vice President of Sales and Marketing for
Mirror Controls International, the world's largest automotive mirror actuator
manufacturer. In addition to assisting in the establishment of new
organizational structures, his broad scope of responsibilities included P&L
accountability, strategic market planning, and leadership of the global sales
and marketing organization. From 2002 to 2005, Mr. Asmussen was Strategy Manager
for the Specialty Controls Division of Eaton Automotive, a global leader in
critical automotive components to reduce emissions and fuel consumption, and
improve vehicle stability and performance. From 2000 to 2002, he served as
Customer Manager for all North American sales initiatives with Ford Motor
Company. Mr. Asmussen holds M.B.A. and Bachelor of Science degrees
from Michigan State University.
Derek Gray, Chairman of Clean Diesel Technologies, stated, "We are very pleased
to make this appointment as Michael's solid industry experience in sales and
marketing complements our overall business strategy. Michael brings very strong
relationships with a number of key original equipment manufacturers and tier-one
and tier-two suppliers, which will be instrumental as we aggressively pursue our
licensing strategy. Under his leadership, Michael helped to significantly
increase sales at the Mirror Controls Division at Eaton, while maintaining a
sharp focus on managing resources and improving operational efficiency. As we
turn our attention to operational execution and growing the demand for our
technologies in the Americas, we are confident that Michael's diverse experience
and organizational leadership skills make him well suited to lead our efforts."
About Clean Diesel Technologies
Clean Diesel Technologies (NASDAQ: CDTI) is a cleantech company providing
sustainable solutions to reduce emissions, increase energy efficiency and lower
the carbon intensity of on- and off-road engine applications. Clean Diesel's
patented technologies and products allow manufacturers and operators to comply
with increasingly strict regulatory emissions and air quality standards, while
also improving fuel economy and power. The Company's solutions, which are in
commercial use worldwide, significantly reduce emissions formed by the
combustion of fossil fuels and biofuels, including particulate matter (PM),
nitrogen oxides (NOx), carbon monoxide and hydrocarbons. Clean Diesel solutions
also reduce carbon dioxide (CO2) emissions, a key greenhouse gas associated with
global climate change.
Clean Diesel develops and manages intellectual property from original concept to
full-scale commercial deployment. Its offerings include ARIS Selective
Catalytic Reduction (SCR); the patented combination of SCR and Exhaust Gas
Recirculation; hydrocarbon injection for emissions control applications;
Platinum Plus Fuel-Borne Catalyst (FBC); the Purifier(TM) family of particulate
filter systems; and its Wire Mesh Filter particulate filter technologies. The
Company was founded in 1995 and is headquartered in Stamford, Connecticut. A
wholly owned subsidiary, Clean Diesel International, LLC, is based in London,
England. For more information, please visit www.cdti.com.
Certain statements in this news release constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known or unknown risks, including those
detailed in the Company's filings with the U.S. Securities and Exchange
Commission, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date hereof.
Please visit us on the World Wide Web at: www.cdti.com
Contacts:
+--+------------------------------------+
| | Clean Diesel Technologies, Inc. |
| | Ann Ruple |
| | CFO |
| | +1 203 416 5290 |
| | aruple@cdti.com |
| | |
+--+------------------------------------+
| | Charles Stanley Securities |
| | Nominated Adviser |
| | Philip Davies / Freddy Crossley |
| | Tel: +44 20 7149 6457 |
| | |
+--+------------------------------------+
| | |
+--+------------------------------------+
# # #
This information is provided by RNS
The company news service from the London Stock Exchange
END
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