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LI corporate director elected to Bahamas Parliament

Dionisio D'Aguilar, chief executive of a chain of

Dionisio D'Aguilar, chief executive of a chain of self-service laundries in the Bahamas, has resigned Tuesday, May 23, 2017, from the board of Millennium Investment & Acquisition Co. Inc., based in Old Bethpage, after his election to the Bahamas Parliament and appointment as minister of tourism. Photo Credit: Bahamian Ministry of Tourism

A director of a Long Island public company has resigned after his election to the Bahamas Parliament and his appointment as minister of tourism and aviation.

Dionisio D’Aguilar, chief executive of Superwash, a chain of self-service laundries in the Bahamas, resigned Tuesday from the board of Millennium Investment & Acquisition Co. Inc., based in Old Bethpage, the Long Island company said in a government filing.

D’Aguilar joins the Cabinet of Hubert Minnis, who was sworn in earlier this month as the new prime minister of the former British colony. D’Aguilar’s ministry oversees the national flag carrier airline, Bahamasair.

D’Aguilar did not respond to a request for comment made through his office.

Millennium Investment is a publicly traded “blank check company” formed in 2006 to do mergers, acquisitions, exchanges of stock or other transactions with operating companies.

Its original plan was to identify companies in India suitable for such transactions, according to Securities and Exchange Commission documents.

In a March letter to shareholders, Millennium Chief Executive David H. Lesser said the company was pursuing a new strategy to broaden its investments. As part of Millennium’s revised strategy, it acquired an activated carbon biomass plant in Kawaihae, Hawaii, for $1.3 million in June 2015.

Activated carbon has a variety of uses, including metal extraction, and gas and water purification. But the company said the plant’s special form of activated charcoal derived from a waste stream of macadamia nut shells can be used to manufacture capacitors that are an alternative to traditional batteries for electricity storage.

Millennium also has an investment in SMC Global, a financial services company based in New Delhi.

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