Industrial Rubber Innovations Appoints Oil Industry Veteran Richard Frasch to the Post of President, CEO and Director.Business Editors BAKERSFIELD, Calif.--(BUSINESS WIRE)---March 13, 2000 Industrial Rubber Innovations (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : IRIB IRIB Islamic Republic of Iran Broadcasting ), today announced that Richard E. "Dick" Frasch has joined the company as president, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and director. Frasch's leadership will be crucial to IRI as the company seeks to increase domestic and international distribution of its oil field products. Frasch brings to IRIB many years of oil and gas industry leadership in both the service and exploration sectors. He has led business development efforts domestically and internationally for more than 40 years. In 1953 Frasch became part owner of Apex Equipment company and in 1959 became president of Apex. He developed the company's North American business and expanded operations in 1972 to the Middle East. After selling the domestic operations in 1975, he again expanded overseas operations to include Hong Kong, Singapore, London and Aberdeen. At its peak, the Apex group of companies exceeded 25 million in annual sales. In 1982 Frasch was named California's "Oil Man of the Year." Frasch has held seats on the boards of several oil and gas production companies. He is also known throughout the Bakersfield area for his contributions to the community, including work with the Boy Scouts of America Noun 1. Boy Scouts of America - a corporation that operates through a national council that charters local councils all over the United States; the purpose is character building and citizenship training , Cancer Crusade and the American Heart Association American Heart Association (AHA), n.pr a national voluntary health agency that has the goal of increasing public and medical awareness of cardiovascular diseases and stroke, and thereby reducing the number of associated deaths and disabilities. . Forward-looking statements in this news release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, conditions related to the domestic and worldwide oil recovery industry, continued demand for the company's products and ability of the company to obtain financing necessary for continued operations. |
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