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NASSAU, The Bahamas, Aug. 10, 2015 (GLOBE NEWSWIRE) -- Ultrapetrol (Bahamas) Limited (Nasdaq:ULTR), an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business, and Ocean Business), announced today the appointment of Mr. Raul Sotomayor to the Company's Board of Directors. Mr. Sotomayor will fill a position vacated by Mr. Rodrigo Lowndes, a fellow partner of Southern Cross Group.
Mr. Sotomayor is a Senior Partner of Southern Cross and a Member of the Executive Committee of the firm and serves as a board member at Brinox and SMU S.A., as well as the non-profit organizations Techo and Fundacion Alimenta. He previously served as a board member at Essbio S.A., Quintec S.A., Supermercados del Sur S.A., and Gas Atacama. Prior to joining Southern Cross, Mr. Sotomayor was a consultant with the Boston Consulting Group at its San Francisco and Buenos Aires offices, served in a managerial position at leading Chilean industrial group Grupo Elecmetal, and began his career at Fintec, a Chilean private equity fund. Mr. Sotomayor holds dual degrees in Economics and Business Administration from the Universidad Católica de Chile, as well as an MBA from UCLA. He is a Member of the Carnegie Endowment for International Peace's Group of Fifty (G50).
Horacio Reyser, Chairman of Ultrapetrol, commented, "We are pleased to welcome Raul Sotomayor to Ultrapetrol's Board of Directors, where we expect to benefit from his extensive regional and logistics experience. We would also like to thank Rodrigo Lowndes for his contribution to Ultrapetrol as a Board Member during a time in which we have implemented strategic initiatives to unlock the full potential of Ultrapetrol."
Ultrapetrol is an industrial transportation company serving the marine transportation needs of its clients in the markets on which it focuses. It serves the shipping markets for containers, grain and soy bean products, forest products, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market with its extensive and diverse fleet of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels. More information on Ultrapetrol can be found at www.ultrapetrol.net.
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