CALGARY, June 8, 2011 /CNW/ - CE FRANKLIN LTD. (TSX.CFT, NASDAQ.CFK) is pleased to announce the promotion of Mr. Derren Newell to the
position of chief financial officer ("CFO"). Mr. Newell, previously
Financial Controller has extensive experience and expertise in finance,
accounting, audit, tax and a wealth of experience with strategic and
operational support in the energy and distribution industries.
Mr. Newell succeeds Mr. Mark Schweitzer who is leaving CE Franklin to
pursue an opportunity with an oil sands development company.
"Our succession planning and bench strength allows a strong performer to
step into the role to continue to advance CE Franklin's strategies,"
said Michael West, President and CEO. "On behalf of our board of
directors and management team, I would like to thank Mark for his
commitment and contribution during his tenure at CE Franklin. Mark
helped move forward our acquisition and diversification strategies and
Derren will help us continue on this path," added Mr. West.
Derren Newell will start the role immediately and Mr. Schweitzer will
ensure a smooth transition.
About CE Franklin
For more than half a century, CE Franklin has been a leading supplier of
products and services to the energy industry. CE Franklin distributes
pipe, valves, flanges, fittings, production equipment, tubular products
and other general oilfield supplies to oil and gas producers in Canada
as well as to the oil sands, refining, heavy oil, petrochemical,
forestry and mining industries. These products are distributed through
its 45 branches, which are situated in towns and cities serving
particular oil and gas fields of the western Canadian sedimentary
Forward-looking Statements: The information in this news release may contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934 and other
applicable securities legislation. All statements, other than
statements of historical facts, that address activities, events,
outcomes and other matters that CE Franklin plans, expects, intends,
assumes, believes, budgets, predicts, forecasts, projects, estimates or
anticipates (and other similar expressions) will, should or may occur
in the future are forward-looking statements. These forward-looking
statements are based on management's current belief, based on currently
available information, as to the outcome and timing of future events.
When considering forward-looking statements, you should keep in mind
the risk factors and other cautionary statements and refer to the Form
20-F or our annual information form for further detail.
SOURCE CE Franklin Ltd.
For further information:
Mr. Michael West