UTEX Industries Announces Retirement of Mike Balas

HOUSTON–(Business enterprise WIRE)–The Board of Directors of UTEX Industries, LLC announces the retirement of Main Government Officer, Mike Balas, productive Oct 5th, 2021.

The Board would like to thank Balas for his stewardship by way of extra than a decade of tumultuous ups and downs in the Oil and Fuel marketplace which include a 2020 restructuring and various acquisition and sales procedures. UTEX has developed significantly underneath Balas with a broad portfolio of Oil & Gasoline, Mining, Industrial and Drinking water sealing answers.

The Board has set up an Office of the CEO comprised of Chairman Jeff Cullman, Director Piotr Galitzine and V.P. of Functions Wellon Pierre. In that construction, Piotr Galitzine will provide as the CEO of UTEX with day by day duty for the company.

Balas commented, “It has been a excellent honor to lead the workforce of UTEX as a result of the years and I know that the long term holds fantastic chance for our persons and our current market-primary technological innovation. We have a sturdy workforce that has succeeded in the facial area of a turbulent market”.

Cullman said, “Mike has been a crucial driving power in the development culminated in the recent position of the UTEX company. We very considerably enjoy the considerable exertion that Mike produced to restructure the firm for its long run accomplishment. Subsequent the UTEX restructuring, we are very well funded, with current market favorability that must bode properly for our achievements. I am happy with the improved economic overall performance of the company.”

Piotr Galitzine and Wellon Pierre will be conducting all-arms conferences to talk about this announcement and options for UTEX’s future achievements. The Board has self esteem, as generally, that we can count on the UTEX team to proceed offering ground breaking products and solutions and exceptional assistance to our prospects.

About UTEX

UTEX is a market place-primary production small business headquartered in Houston, Texas. UTEX operates producing, distribution, and technical profits facilities in the United States and abroad and has roughly 650 workers. UTEX’s modern and custom-engineered goods support a assorted client base, such as oil and fuel, industrial, mining, and h2o conclusion markets.

Ahead-Wanting Statements

Specific statements in this press release represent ahead on the lookout statements. All statements other than statements of historic actuality are, or may well be deemed to be, ahead-hunting statements. Forward-looking statements include, with no limitation, any assertion that may undertaking, indicate or suggest long run benefits, events, general performance or achievements, and may possibly contain or be recognized by the phrases “believe,” “expect,” “expected to be,” “anticipate,” “contemplates”, “plan,” “intend,” “foresee,” “forecast,” “continue,” “can,” “will,” “will go on,” “may,” “should,” “would,” “could” or other comparable expressions that are supposed to establish forward-searching assertion. Viewers are cautioned that any forward-seeking statements herein, are issue to a amount of assumptions, hazards, and uncertainties, quite a few of which are further than our manage. Essential assumptions and other vital things that could result in genuine final results to differ materially and contain, a reduce in drilling action, as nicely as the volatility in commodity selling prices for crude oil and all-natural gasoline, competitors, government regulation or other steps, the capability of management to execute its strategies to satisfy its aims and other challenges inherent in our companies. Readers are cautioned that the forward-seeking statements talk as of the date hereof, are based mostly on our existing beliefs, intentions and expectations, and are not guarantees of long term general performance. True outcomes or developments may possibly vary materially from the expectations expressed or implied in the ahead-wanting statements, and UTEX undertakes no obligation to update any these types of statements.