Joseph P.
Palm Elected to Arabian American Development Board of Directors
Industry
Veteran Brings More than 40 Years of Experience to the Board
SUGAR LAND, Texas, June 2, 2011
/PRNewswire/ -- Arabian American Development Co. (Nasdaq:ARSD
�- News) today announced that Joseph P. Palm, a proven
executive with significant relationships in the oil and chemical markets, was
elected to the Board of Directors of the Company effective May 20, 2011.
Mr. Palm will serve on the Audit, Nominating, and Compensation committees of
the Board. This brings the total number of board members for the Company to
seven, four of whom are considered independent under Rule 10A-3(b)(1) of the
Securities Exchange Act of 1934.
Mr. Palm has
over 40 years of industry experience primarily in marketing and business
development including 13 years with BP Amoco Chemical as marketing manager and
business development manager and over 25 years in marketing, product
development and business development for Rohm and Haas Company, a specialty
chemical company.. Mr. Palm served in the United States Army
from 1968 to 1971 and completed his tour as a Staff Sergeant (E-6). He has an
undergraduate degree from LaSalle
University, Philadelphia, Pa., and holds an MBA from Xavier University,
Cincinnati.
Nick Carter, President and CEO
commented, "Joe's extensive and varied experience brings unique skills in
asset management, marketing, sales and new business development in our industry
that will add to the depth of the Board of Directors. We are happy to
welcome Joe to the group and feel he will provide an area of expertise that
will help us as we expand our reach in moving our products around the
world."
Mr. Palm
commented, "I look forward to working closely with the board and
management to leverage the Company's reputation and competitive position in the
petrochemical industry and welcome the opportunity to contribute to maximizing
value for investors over the long term."
About Arabian American Development Company (ARSD)
ARSD owns and
operates a petrochemical facility located in southeast Texas just north of Beaumont
which specializes in high purity petrochemical solvents and other solvent type
manufacturing. The Company is also the original developer and now a 41%
investor in a Saudi Arabian joint stock company involving a mining project
which is currently under construction in the Najran Province of southwest Saudi Arabia.
The mine is scheduled to be in production in late 2011 or early 2012 and will
produce economic quantities of zinc, copper, gold, and silver.
Safe Harbor
Statements in this release that are not historical
facts are forward looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Forward looking statements are based upon management's
belief as well as assumptions made by and information currently available to
management. Because such statements are based upon expectations as to future
economic performance and are not statements of fact, actual results may differ
from those projected. These risks, as well as others, are discussed in greater
detail in Arabian American's filings with the Securities and Exchange
Commission, including Arabian American's Annual Report on Form 10-K for the
year ended December
31, 2010, and the Company's subsequent Quarterly Reports on
Form 10-Q.