MONTREAL, Nov. 5 /CNW/ - TORR Canada Inc. (TSX: TOR) ("TCI"), dedicated
to providing innovative process solutions to the Oil & Gas industry, today
announced that Jacques L. Drouin, currently serving as Senior Vice-President
and Chief Financial Officer, has been appointed President, Chief Executive
Officer and Director of the Company effective immediately. Mr. Drouin replaces
Alain Ferland, TCI's President and CEO since early 2003. Mr. Ferland has
resigned as an Officer and Director of the Company and will assist Mr. Drouin
until December 31, 2007 to ensure a seamless transition.
"On behalf of the Board of Directors, I would like to thank Alain Ferland
for his contributions over the past five years. Mr. Ferland was instrumental
in building the solid foundations on which TORR Canada now stands," said
Anthony Rustin, Chairman of the Board. "Mr. Drouin's promotion was a natural
step for TCI as we focus on growing the Company. He has demonstrated strong
leadership capabilities and has developed important relationships within the
financial community and with Oil & Gas players. We are confident in his
ability to successfully guide TORR Canada through its next phase."
"I am thrilled to be assuming this new role," said Jacques L. Drouin. "By
combining TORR and Pure Group's products, relationships and experienced human
resources, we are in a better position to increase our sales, reach
profitability and create shareholder value."
Mr. Drouin was formerly Vice President and Director of Deloitte & Touche
Finance Canada Inc., where he undertook and managed numerous financing and
merger & acquisition transactions for public as well as private companies.
Prior to this, he worked as a corporate finance senior consultant at KPMG, and
at Nesbitt Thomson (now BMO Nesbitt Burns) as a financial analyst in the
investment-banking department. He holds a Bachelor of Commerce and a Master's
Degree in Management Science, both specialized in finance.
About TORR Canada Inc.
TCI is dedicated to providing solutions to the oil and gas industry. TCI
designs, develops, manufactures and commercializes technologies to separate
oil, water and gas generated by oil and gas production. For more information,
please visit www.torrcanada.com. TCI recently acquired Pure Group AS of
Caution concerning forward-looking statements
This press release contains forward-looking statements. Such statements
inherently involve numerous risks and uncertainties. Actual future results may
differ from the anticipated results expressed in the forward-looking
statements contained in this press release and TCI does not undertake to
update this information. Investors are cautioned against placing undue
importance on forward-looking information contained herein and should consult
the final short form prospectus and the documents incorporated by reference
therein, which contain a more exhaustive analysis of risks and uncertainties
connected to TCI's business.
For further information:
For further information: TORR Canada Inc., Jacques L. Drouin, President
and Chief Executive Officer, (514) 522-5550, ext. 226, email@example.com;
The Equicom Group Inc., Danielle Ste-Marie, (514) 844-6064,