Probex Names Charles Rampacek as President and CEO.Business Editors DALLAS--(BUSINESS WIRE)--July 31, 2000 Probex Corp. (AMEX AMEX See: American Stock Exchange : PRB PRB Pharmaceutical Resources Branch ), an energy technology company, announced today that board member Charles M. Rampacek, 57, has been named as the company's new president and chief executive officer, effective August 1. Mr. Rampacek succeeds Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs G. Plaskett, who has served as Probex's interim president and chief executive officer and who will remain the company's chairman of the board. For the past four years, Mr. Rampacek has served as president and chief executive officer of Lyondell-Citgo Refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar , LP, a joint venture of Citgo Petroleum Corporation and Lyondell Chemical Company Lyondell Chemical Company NYSE: LYO is an American multinational corporation based in Houston, Texas. Overview The Lyondell Chemical Company is currently the third largest independent chemical manufacturer in the United States. . From 1982 to 1995, he held various executive positions with Tenneco Inc.'s energy-related subsidiaries, including president of Gas Pipeline Transportation, executive vice president of Gas Pipeline Operations and senior vice president of Refining & Marketing Operations. Prior to joining Tenneco Inc., Mr. Rampacek spent 16 years with Exxon Company USA. Thomas G. Plaskett, chairman of Probex, said, "The naming of Mr. Rampacek as the company's new president and 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. culminates a search process that began in October 1999, when I assumed the additional positions of president and CEO on an interim basis. During this search process, we focused on bringing to the company an individual with significant experience in the petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. and refining industries, someone who could provide the necessary leadership to Probex as we transition from a development-stage company to one that generates revenues and positive cash flow. "We are fortunate to have found Charlie Rampacek who, with his experience as a senior executive at several large, multinational companies in the petrochemical and refining industries, we believe will bring such leadership to Probex." Mr. Plaskett added, "During the brief time Mr. Rampacek has been a director of our company, he has brought valuable insight based upon his 32 years experience in petrochemicals and refining. I look forward to continuing to work with him as a member of our board and now as our president and CEO." "I have been impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: by Probex's ProTerra(TM) technology and the steps the company is taking to establish a leadership position among processors of used oil," said Mr. Rampacek. "During my tenure, I anticipate leading the company through its next phase of growth, including making acquisitions, building our first plant in Wellsville, Ohio
Wellsville is a village in Columbiana County, Ohio, United States, along the Ohio River. The population was 4,133 at the 2000 census. , identifying appropriate locations for new facilities and forging additional strategic partnerships as we begin the commercialization of ProTerra(TM). I also thank Mr. Plaskett for the contributions he has made to the company during his time as president and CEO and for the contributions he will continue to make as our chairman." Mr. Rampacek joined the Probex board in April 2000 and will continue to serve as a company director. About Probex Probex is a Dallas-based energy technology company that has begun commercialization of ProTerra(TM), its proprietary lubricating base oil technology enabling production of premium quality base oil and other petroleum products from used lubricating oils. For more information about Probex, visit the company's web site at www.probex.com. Certain statements contained herein may be considered "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as defined in 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. These statements are based upon the belief of the Company's management, as well as assumptions made beyond information currently available to the Company's management. Because such "forward-looking statements" are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from the company's expectations include financial performance, conditions in the lubricating oil industry, the company's ability to obtain financing for its anticipated acquisitions and plant development, market acceptance of the company's products and technologies, changes in local, national or global economic conditions, and similar variables. |
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