3W Power Holdings/AEG Power Solutions: Dr Horst J. Kayser is appointed to the Board and Robert J. Huljak announces his retirement for December

Robert J. Huljak has announced that he will retire from active management on December 31, 2010.

After successfully turning around the former Alcatel division as a private corporation and supporting AEG Power Solutions’ transition to being a public company, the timing of Robert Huljak’s retirement is consistent with his personal interests.

Robert Huljak provided the strategic guidance for AEG Power Solutions strategy since it was acquired from Alcatel in 2005 and together with Bruce Brock, they successfully repositioned AEG Power Solutions. His vision and strategy based on more than 40 years of experience in the power industry will continue to be utilized by the company as the industry transitions to providing key enabling technologies for renewable energies and the evolution of the Smart Grid.

Dr. Kayser stated, In the short time that I have known Bob, I have gained an appreciation of his long history and experience in the power industry. Personally and as a management team, we are extremely grateful that he has tirelessly worked to ensure the future success and development of AEG Power Solutions in its drive from traditional power electronics into a leading energy efficiency and renewable energies business. In particular, Bob’s vision for providing our customers with high efficiency and smart power electronic solutions to be compliant with the emerging Smart Grid is the basis for AEG Power Solutions drive to become a Tier 1 leader in the industry.

Robert J. Huljak will remain a member of the Board of Directors after his retirement in December.