HOUSTON, June 11, 2020 /PRNewswire/ -- Flotek Industries,
Inc. ("Flotek" or the "Company") (NYSE: FTK) welcomes Kevin W. Brown to its Board of Directors. He
will serve on the Audit Committee.
As a part of Flotek's recent purchase of JP3, Mr. Brown was
nominated to the Flotek Board of Directors. Most recently, he
served on the Board of Managers of JP3 Measurement, LLC, prior to
its purchase by the Company. He also serves on the Board of
Directors of GCP Applied Technologies, Inc., a leading global
provider of construction products technologies, where he is a
member of the Compensation Committee and the Strategy, Operating
and Risk Committee.
Previously, Mr. Brown was a senior leader at global chemical
company LyondellBasell Industries N.V., where he was Executive Vice
President, Manufacturing & Refining, from 2015 to 2017, and
Senior Vice President, Refining, beginning in 2009. Prior to that,
Mr. Brown spent 22 years at Sinclair Oil Corporation, an American
petroleum corporation, in various roles, including having served as
Executive Vice President and Senior Vice President of Operations,
from 1994 to 2009, and also serving as a director from 2006 to
2009. From 2005-2017, Mr. Brown served in various leadership roles
with the National Petrochemical and Refiners Association, later
renamed AFPM, including Chairman (2008-2009), Vice Chairman (2008)
and Member of the Executive Committee (2005-2017). Mr. Brown
received his Bachelor of Science in Chemical Engineering from the
University of Arkansas, where he
recently completed a term as Chairman of the Dean's Advisory
Council for College of Engineering and currently serves on the
Campaign Arkansas Steering Committee.
John W. Gibson, Jr., Chairman,
President, and Chief Executive Officer of Flotek stated: "We are
excited to welcome Kevin to the Flotek board. He will be an
important asset to the Company, contributing his knowledge and
extensive professional network in the downstream market – which is
particularly timely and beneficial, as JP3 and Phillips 66 advance their joint data service
solution offering for refined fuels transmix reduction.
Additionally, he brings a depth of expertise in chemistry and its
applications, accelerating opportunities to advance synergies
across the business and full hydrocarbon stream."
Mr. Brown stated: "I am grateful to have the opportunity to
partner with John Gibson and the
rest of the Flotek board as we work together to strengthen the
Company through accelerated growth. I am particularly pleased to be
able to continue to work with JP3, as the company pivots from a
startup company to a more fully developed commercial operation as
part of the Flotek family. Throughout my four-decade career as a
refiner, I recognized the need to better define the quality of
hydrocarbon streams we purchased or transported to enable better
commercial terms, make more efficient operating decisions and
reduce product downgrades. JP3, with Flotek's backing, is filling
the analytical void that has limited our ability to evaluate crude
quality."
About Flotek Industries, Inc.
Flotek empowers the energy industry to maximize the value of
their hydrocarbon streams and improve return on invested capital
through data-driven platforms and chemistry technologies. Flotek
serves downstream, midstream and upstream customers, both domestic
and international. Flotek is a publicly traded company
headquartered in Houston, Texas,
and its common shares are traded on the New York Stock Exchange
under the ticker symbol "FTK." For additional information, please
visit Flotek's web site at www.flotekind.com.
Forward-Looking Statements
Certain statements set forth in this press release constitute
forward-looking statements (within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934) regarding Flotek Industries, Inc.'s business,
financial condition, results of operations and prospects. Words
such as will, well-positioned, strong position, guidance, looking
forward, continue, expects, anticipates, intends, plans, believes,
seeks, estimates and similar expressions or variations of such
words are intended to identify forward-looking statements, but are
not the exclusive means of identifying forward-looking statements
in this press release. Forward-looking statements in this
press release are not historical facts, but reflect the good faith
judgment of management and current assumptions and beliefs
regarding future events, many of which, by their nature, are
inherently uncertain and outside the Company's control. Such
statements include estimates, projections, and statements related
to the Company's business plan, objectives, expected operating
results, and assumptions upon which those statements are based.
Consequently, forward-looking statements are inherently subject to
risks and uncertainties, and actual results and outcomes may differ
materially from the results and outcomes discussed in the
forward-looking statements. Further information about the
risks and uncertainties that may impact the Company are set forth
in the Company's most recent filing with the Securities and
Exchange Commission on Form 10-K (including, without limitation, in
the "Risk Factors" section thereof), and in the Company's other SEC
filings and publicly available documents. Readers are urged
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. The Company
undertakes no obligation to revise or update any forward-looking
statements in order to reflect any event or circumstance that may
arise after the date of this press release.
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SOURCE Flotek Industries, Inc.