MANAGEMENT
Directors and Executive Officers
Our current directors and
executive officers are as
follows:
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Name
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Age
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Position
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Alan
Kestenbaum
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43
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Chief Executive
Officer and Director
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Theodore
Heilman
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47
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President and
Director
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Michael
Barenholtz
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46
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Secretary and
Director
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Alan Kestenbaum
has been our
chief executive officer and a member of our board of directors since
our inception. He has over 20 years' experience in metals
finance, distribution, trading and manufacturing. Mr. Kestenbaum
founded and has been the chief executive officer of Marco International
Corp., an international finance and trading company specializing in
metals, minerals and raw materials, since 1985. Mr. Kestenbaum led
Marco International's expansion into China and the former Soviet
Union. He also established Marco International's related private
equity business and was involved in sourcing and concluding a number of
private equity transactions, including ones relating to McCook Metals,
Scottsboro Aluminum and Globe Metallurgical. Since 1997, Mr.,
Kestenbaum has also been the vice president of Marco Hitech JV LLC, a
nutritional ingredient developer and supplier to the pharmaceutical and
nutritional industries. From 1999 to June 2001, Mr. Kestenbaum
was the chief executive officer of Aluminum.com, a provider of online
metals trading services. In July 2001, following Mr. Kestenbaum's
resignation and after the board of directors of Aluminum.com voted to
cease operations, a group of former consultants and shareholders filed
an involuntary Chapter 7 petition against Aluminum.com. This petition
was subsequently dismissed by the bankruptcy court and Aluminum.com
wound down its affairs in good order, including paying all its
creditors and returning all surplus cash to its shareholders. Mr.
Kestenbaum began his career in metals with Glencore, Inc. and Philipp
Brothers in New York City. He received a B.A. in Economics
cum
laude
from Yeshiva University, New York.
Ted
Heilman
has been our president and a member of our board of
directors since our inception. He has over 25 years' management
and financial experience in international business and commodities.
Since January 2003, Mr. Heilman has been the president of the finance
division of Marco International, where he has managed that
company's relationship with metals producer, Globe Metallurgical.
From 1999 to June 2002, Mr. Heilman served as president and chief
executive officer of InterCommercial Markets LLC, an online commodity
logistics and trading services and software company that he founded and
merged with ExImWare, Inc., where he remained as resident founder until
January 2003. From 1989 to 1999, Mr. Heilman was affiliated with the
Mercon Group, a multinational commodity trading and processing group,
where he served in various capacities including executive vice
president and chief operating officer. From 1984 to 1989, he was
affiliated with the J. Aron Commodities Division of Goldman Sachs &
Co. in New York, where he was named a vice president in sales and
trading, managing major U.S. Corporate accounts and Latin American
supplier relationships. Mr. Heilman began his business career as an
international lending officer with the Bank of New York (Irving Trust
Co.). He received a B.S. in Economics from the Wharton School of the
University of Pennsylvania and an M.B.A. from Harvard University. He
speaks fluent Spanish.
Michael Barenholtz
has been our
secretary and a member of our board of directors since our inception.
He has over 25 years' experience in metals and minerals trading,
distribution and manufacturing. Mr. Barenholtz founded New York metals
trader Baron Metals and Alloys in 1994, which merged in 1998 with Marco
International, where he is currently president. Mr. Barenholtz oversees
Marco's global trading and distribution businesses. From 1985 to
1994, Mr. Barenholtz was affiliated with The Metallurg Group in New
York, where he developed its non-ferrous metals trading businesses and
related London Metals Exchange futures trading. During this period he
served as president of the American Tin Trade Association for 2 years
and as a director for 6 years. Mr. Barenholtz began his career in
metals with Philipp Brothers in New York City and Manila. He received a
B.A. in Computer Science
cum laude
from Queens College, New
York.
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Our board of directors is divided into
three classes with only one class of directors being elected in each
year and each class serving a three-year term. The term of office of
the first class of directors, consisting of Michael Barenholtz, will
expire at our first annual meeting of stockholders. The term of office
of the second class of directors, consisting of Ted Heilman, will
expire at the second annual meeting. The term of office of the third
class of directors, consisting of Alan Kestenbaum, will expire at the
third annual meeting
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These individuals will play a
key role in identifying and evaluating prospective acquisition
candidates, selecting the target business, and structuring, negotiating
and consummating its acquisition. None of these individuals has been a
principal of a public company or blank check company that executed a
business plan similar to our business plan. However, our management has
extensive experience in identifying strategic assets in the metals and
mining industries that are
under-priced and underutilized, with the goal of identifying core
competencies, refocusing operations, improving operating performance
and thus enhancing EBITDA and value. We believe that the skills and
expertise of these individuals, their collective access to acquisition
opportunities and ideas, their contacts, and their transaction
expertise should enable them to successfully identify and effect an
acquisition.
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