Foraco appoints Chief Operating Officer
Feb 06, 2012, 08:30 ET
TORONTO and MARSEILLES, France, Feb. 6, 2012 /CNW/ - Foraco International SA (TSX: FAR) (the "Company" or "Foraco"), a leading global provider of mineral drilling services, announced today the appointment of Chief Operating Officer ("COO") Claude Durocher. The company has created this position in response to the continued growth and expansion of the organization. Mr. Durocher will be working out of the company's Toronto office and will report directly to the CEOs.
Mr. Durocher will be focused on developing synergies between Foraco's four main operating regions, optimizing profitability and key operational metrics, while increasing safety and overall client satisfaction.
Mr. Durocher has over 20 years experience in the oil and gas services industry. Most recently, he acted as Vice President & Global Slickline Business Manager at Schlumberger, an organization comprised of nearly 2500 employees and 120 field locations in 65 countries with a market share three times that of its closest competitor. Prior to this, Mr. Durocher was President of Schlumberger Canada, a USD $1 billion business, overseeing operations involving 2700 employees operating within multiple business units spanning over 40 field locations. He has an impressive international career spanning multiple continents leading large and diverse teams. He also has experience in deploying small crews and high-tech equipment in various regions, and has demonstrated exceptional capacity in growing a business with large, sophisticated customers.
"One attribute that is clear in Claude's past experience is his capacity to quickly and successfully take on new projects," says Jean-Pierre Charmensat, Vice-CEO and CFO of Foraco. "We have a nimble and entrepreneurial spirit at Foraco, and Claude's willingness to take on new challenges, coupled with his vast international experience make him a natural fit with our diverse and energetic team."
Commenting on today's announcement, Daniel Simoncini, Foraco's Chairman and CEO, remarks: "We are very pleased to welcome Mr. Durocher to the team. The company's future growth plans correlate with the need to bring on an experienced, senior manager. This will enable Jean-Pierre and me to focus our energy on developing strategic partnerships, acquisitions, branding, innovation in research and development, as well as develop and retain a top-class specialized drilling workforce. Our focus will remain on our work toward Foraco becoming a world leader in the mineral drilling industry."
Foraco International SA (TSX: FAR) is a global leading drilling services company that provides turnkey solutions for mining, energy, water and infrastructure projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with operations in 22 countries across five continents. For more information about Foraco, visit www.foraco.com.
Caution concerning forward-looking statements
This press release may contain "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. These statements and information include estimates, forecasts, information and statements as to management's expectations with respect to, among other things, the future financial or operating performance of the Company and capital and operating expenditures. Often, but not always, forward-looking statements and information can be identified by the use of words such as "may", "will", "should", "plans", "expects", "intends", "anticipates", "believes", "budget", and "scheduled" or the negative thereof or variations thereon or similar terminology. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 31, 2010, which is filed with Canadian regulators on SEDAR (www.sedar.com). The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.
For further information:
Sonia Tercas, Manager, Investor Relations
Email: [email protected]
Tel: (647) 351-5483
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