ASRC PRESS RELEASE 9/28/2016
ASRC INDUSTRIAL SERVICES, LLC IS ASRC’S NEWEST PLATFORM COMPANY
Arctic Slope Regional Corporation (“ASRC”) is pleased to announce the establishment of a new platform holding company, ASRC Industrial Services, LLC (“AIS”). AIS will be headquartered in Concord, California. Greg Johnson, the president and chief executive officer (“CEO”) of ASRC’s wholly-owned subsidiary, Petrochem Insulation, Inc. (“Petrochem”) will take over as president and CEO of AIS. Petrochem will be AIS’ first operating company.
“On behalf of ASRC’s board of directors, I am proud to announce the creation of ASRC Industrial Services,” said Crawford Patkotak, ASRC board chairman. Rex A. Rock Sr., president and CEO of ASRC, added, “I believe the establishment of AIS positions ASRC to leverage the talented leadership team and workforce at Petrochem to expand our industrial services offerings into attractive new markets for the benefit of our shareholders.”
“I am excited about the future of AIS,” said Greg Johnson, president and CEO of AIS. “I look forward to building on the momentum we have created over the last 15 months at Petrochem to expand our service offerings to existing and new customers, provide additional opportunities for our employees and ultimately increased benefits to ASRC’s shareholders.”
Arctic Slope Regional Corporation is owned by and represents the business interests of the Arctic Slope Iñupiat. Since opening enrollment in 1989 to Alaska Natives born after 1971, the corporation’s shareholder base has nearly tripled, growing from the 3,700 original enrollees to around 12,000 today. Corporate headquarters are based in Barrow, Alaska, with administrative and subsidiary offices located in Anchorage and throughout the United States. ASRC, along with its family of companies, is the largest Alaskan-owned company, employing approximately 10,000 people worldwide. The company has five major business segments: petroleum refining and marketing, energy support services, construction, government services and resource development.