PIRAEUS, Greece, April 8 /PRNewswire-FirstCall/ -- Navios Maritime
Holdings Inc. ("Navios Holdings" or "the Company") (NYSE: NM), a
large, global, vertically integrated seaborne shipping and
logistics company, announced today the appointment of George Malanga to its Board of Directors.
Mr. George Malanga is currently
serving as the Chief Credit Officer of The Bank of New York Mellon
Corporation. Mr. Malanga holds a bachelor degree in Business
Administration from Rutgers College and
an MBA in Finance from New York
University.
"We are delighted Mr. Malanga has joined our board and believe
that his expertise and counsel will be significant assets to our
company, said Ms. Angeliki Frangou,
Chairman and CEO of Navios Maritime Holdings Inc.
Navios Holdings has also announced that Rex Harrington, who has been a director of
Navios Holdings' since October 2005,
has resigned so that he can join the board of Navios Maritime
Acquisition Corp. ("Navios Acquisition") (NYSE: NNA.U) and continue
to provide the Navios Group with his significant experience in the
tanker sector. Ms. Frangou commented, "Mr. Harrington has
played an important role in the success of Navios Holdings, and we
look forward to his leadership in his new position."
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. is a global, vertically integrated
seaborne shipping and logistics company focused on the transport
and transshipment of drybulk commodities including iron ore, coal
and grain. For more information please visit our website:
www.navios.com.
Navios Holdings may, from time to time, be required to offer
certain owned Capesize and Panamax vessels to Navios Maritime
Partners L.P. ("Navios Partners") (NYSE: NMM) for purchase at fair
market value according to the terms of the Omnibus Agreement.
For more information please visit its website:
www.navios-mlp.com.
Forward-Looking Statements
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and Navios Holdings' growth strategy and
measures to implement such strategy; including expected vessel
acquisitions and entering into further time charters. Words such as
"expects," "intends," "plans," "believes," "anticipates," "hopes,"
"estimates," and variations of such words and similar expressions
are intended to identify forward-looking statements. Such
statements include comments regarding expected revenues and time
charters. Although Navios Holdings believes that the expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates which are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of Navios Holdings. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Factors that could cause actual
results to differ materially include, but are not limited to
changes in the demand for drybulk vessels, competitive factors in
the market in which Navios Holdings operates; risks associated with
operations outside the United
States; and other factors listed from time to time in Navios
Holdings' filings with the Securities and Exchange Commission.
Navios expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Navios
Holdings' expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Public &
Investor Relations Contact:
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Navios Maritime
Holdings Inc.
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+1.212.279.8820
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investors@navios.com
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SOURCE Navios Maritime Holdings Inc.