HOUSTON, Jan. 29, 2016 /PRNewswire/ -- American Gilsonite Company, Inc. ("AGC"), the world's major supplier of Gilsonite®, today announced the appointment of David G. Gallagher to the position of President and Chief Executive Officer, effective immediately. Mr. Gallagher has more than 30 years of experience in the oil and gas service sector, having served with Schlumberger, CARBO Ceramics, and Baker Hughes in engineering, operations, product development, and executive management roles. He joined AGC in 2013 as Senior Vice President, Commercial Operations.
"We brought David aboard in order to revitalize our commercial efforts, with the intent that he would eventually serve a larger role," said Willson Ropp, Chairman of the Board of AGC, "His strong leadership, ability to attract top-tier talent, and business acumen have greatly contributed to the success of the company in a number of important new areas."
Mr. Gallagher commented, "I am humbled and blessed to take the helm of a company with a proud history of more than 125 years of industry leadership and innovation. The dedication and professionalism of the team across the entire organization is inspiring. Our product, Gilsonite, is a naturally occurring asphaltite that serves as an effective binder and strengthener in a broad range of end uses. For decades, this 'magical mineral' has been a key additive for drilling fluids and cementing in the oil and gas sector as well as for asphalt, inks and paints, and foundry.
"Reflecting our heightened focus on bringing cost-effective products to market quickly, we recently opened an Innovation Center in Houston. In this advanced testing and evaluation facility, our clients have been actively collaborating with us to develop high-performance products for specific applications—all of which helps us to demonstrate the significant value of Gilsonite products in the marketplace," Mr. Gallagher concluded.
Mr. Ropp added, "We want to thank Ted Stevens for his leadership and dedication to American Gilsonite Company over the last 17 years. Ted is a proven executive who led the efforts to modernize our operations and safely protect our workers and the environment. We wish him well in his retirement."
Mr. Gallagher earned a Bachelor of Engineering degree from the University of New Mexico.
About American Gilsonite Company (www.americangilsonite.com)
American Gilsonite Company (AGC) is the world's primary miner and processor of uintaite, a naturally occurring hydrocarbon similar in appearance to hard asphalt believed to be found in commercial quantities only in the Uinta Basin in northeastern Utah. AGC's extensive mining operations in the area assure customers of a secure supply of the pure grade uintaite that AGC markets under its registered trademark name "Gilsonite®." Because of its unique chemical and physical properties, Gilsonite has been used in more than 160 products. The company sells its products to customers in four primary markets: (i) oil and gas, (ii) inks and paints, (iii) foundry, and (iv) asphalt. AGC is headquartered in Houston, Texas, with mining facilities based in Bonanza, Utah. American Gilsonite Company is a privately held portfolio company of Palladium Equity Partners III, L.P.
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SOURCE American Gilsonite Company, Inc.