HOUSTON–(BUSINESS WIRE)–Vertex Energy, Inc. (NASDAQ:VTNR), a refiner and marketer of high-quality specialty hydrocarbon products, today announced the appointment of Michael Sommer as Manager of Product Sales Development, a newly created position within Vertex.
Mr. Sommer is a 30-year veteran of the lubricants industry and brings to Vertex demonstrated leadership in management as well as sales and marketing experience in base oil, finished blended lubricants and refinery by-products such as asphalt extenders and recycled fuel oil.
Prior to joining Vertex, Mr. Sommer worked at Safety-Kleen, Inc., where he held progressively more responsible positions in management and sales over a 23-year period. From 2005 until 2010, he served as a Senior Vice President with responsibility for $550 million of refinery sales across North America.
Vertex’s CEO, Benjamin P. Cowart said, “We are extremely pleased that Mike will be joining our team. He brings a wealth of knowledge and experience in developing lube product sales as well as extensive relationships within the industry. We are looking to Mike to take a leadership role in growing our Group III base oil sales, which is a key element of our long-range business plans. Future trends in motor oil lubricants will demand higher quality base oils. Our Heartland facility already produces high quality Group II base oil, which we believe, together with our Group III base oils and available assets and resources, will position Vertex to continue to grow in a changing lubricants market.”
Mr. Sommer stated, “I am excited to be joining Vertex at what I believe is an important time in the development of the company and its brand. The United States does not produce Group III base oils, and so, Vertex has secured a foothold in a growing market with its recent agreement to begin importation of these base oils in conjunction with Penthol. The first cargo has arrived, the transportation arrangements are made, and to a sales professional, there is nothing more exciting than having a product in high demand with a company like Vertex and a partner like Penthol that is committed to making a successful entry into a new market.”
ABOUT VERTEX ENERGY, INC.
Vertex Energy, Inc. (VTNR) is a refiner and marketer of high-quality specialty hydrocarbon products. With headquarters in Houston, Texas, Vertex processing facilities are located in Houston (TX), Marrero (LA) and Columbus (OH). For more information on Vertex Energy please contact Porter, LeVay & Rose, investor relations representative Marlon Nurse, at 212-564-4700 or visit our website at www.vertexenergy.com.
Forward Looking Statements
This press release may contain forward-looking statements, including information about management’s view of Vertex Energy’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Vertex Energy, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Vertex Energy files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex Energy’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex Energy cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex Energy undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex Energy.
Contacts
Investor Relations Contact
Vertex Energy, Inc.
Marlon Nurse, DM, 212-564-4700
Senior VP – Investor Relations