DGAP-News: NEW STAGE OF DEVELOPMENT: MAN OIL GROUP AG ENTERS INTERNATIONAL OIL-WASTE MANAGEMENT MARKETS
(firmenpresse) - DGAP-News: MAN OIL GROUP AG / Key word(s): Change of Personnel
NEW STAGE OF DEVELOPMENT: MAN OIL GROUP AG ENTERS INTERNATIONAL
OIL-WASTE MANAGEMENT MARKETS
27.11.2012 / 20:45
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NEW STAGE OF DEVELOPMENT: MAN OIL GROUP AG ENTERS INTERNATIONAL OIL-WASTE
MANAGEMENT MARKETS
27 November 2012
Zug, Switzerland, - Man Oil Group AG President Genadi Man announced the
appointment of Martin May as the company's incoming CEO. Martin K. May is
an established UK top-level professional with an extensive experience in
management of oil and gas enterprises.
Martin May is a seasoned manager with high reputation both in the City and
on the world's energy market. May's breadth of experience in large
industrial companies and professional connections in international oil and
gas markets will benefit Man Oil Group at a time of rapid industry
development. His portfolio includes start-up projects with further
capitalization growth up to hundreds of millions of pounds.
Before joining MOG AG for 10 years May worked in co-operation with such
industry giants as ExxonMobil, Shell, BP and Chevron.
As CEO May will focus on strengthening the position of Man Oil Group in the
oil-waste management market and support the company's international
offering. The accumulated experience of Man Oil Group in the CIS territory
will be developed further and brought to Britain, the Far and Middle East.
MOG AG President Genadi Man comments:
'Martin May's decision to take up the project was not spontaneous at all.
We started discussions in spring 2012, when Man Oil Group was a start-up
venture. In 7-weeks time - due to the professional management strategy and
the results achieved by the company's unique technology - Man Oil Group
gained the status of being a 'profitable business'.
We strive to become a leader in the global market for oil-waste treatment,
providing customers with the highest quality services. In the CIS Man Oil
Group showed promising results. Martin May's previous experience in the
world's energy sector is important for the company's international
development. His reputation is highly valued by UK investors and will
guarantee success for Man Oil Group.'
MOG AG CEO Martin May:
'It's time to market: MOG AG chose the right moment to enter the
international market. The company has already achieved a high technological
advantage, and I am confident that my knowledge and experience will work to
foster the reputation of Man Oil Group as an important player in the
international marketplace of waste management.
Man Oil Group possesses a unique innovative technology, and I see my
strategic priority in providing steady income flow from operation
activities. We will continue to act in accordance with the stated
principles of work which are quality and scrupulous fulfilment of our
obligations to customers'.
Martin K. May
Until March 2012 Martin May was in charge of Cape PLC in the role of CEO.
Under his leadership Cape PLC became an integral part of the FTSE 250 and
expanded its presence in the Gulf and the Middle East, Caspian and Far East
Asia-Pacific regions.
May is a Fellow of the Chartered Institute of Management Accountants and a
Founding Member and Fellow of the Society of Turnaround Practitioners.
May served as the CEO of Cape plc from 2006 - 2012 and as a director of
Cape plc 2002 - 2012.
He served as NonExecutive Chairman of Volex Group plc from September 2005
to May 2006.
Man Oil Group AG
Man Oil Group AG provides a large-scale industrial complex treatment of
oil-sludge and oil polluted soils with consequent bioremediation of waste.
In August 2012 STORM-15, a machinery complex, came to an intensive mode of
operation on site at the Lisichansk Refinery (TNK-BP). The 7-week volume of
processed oil sludge was equivalent to USD 1.2 million in terms of
generated revenue in accordance with the contract. The machinery complex
STORM-15 showed consistently high results in its daily work at the
Lisichansk Refinery.
The project demonstrates industry record results in oil-sludge treatment
and oil recovery. The machinery and solutions used for implementing the
technology have been protected by patent applications. The practical
implementation of Man Oil Group's technology significantly exceeds market
expectations, and compared to world counterparts its performance confirms
effectiveness of the company's approach.
An independent study of the STORM-15 technology process was conducted by
the Swiss Federal Institute of Technology and Engineering Processing - ETH
- (Zurich) by Professor Philipp Rudolf von Rohr. In the course of this
study Professor von Rohr personally visited the production site and
emphasized the highest levels of operational capabilities of STORM-15, its
reliability and quality of oil recovery.
13 July 2011 Man Oil Group AG stock was listed on Open Market of the
Frankfurt Stock Exchange.
Additional information is available at www.manoilgroup.com
Contact:
Man Oil Group AG
Bleichistrasse 8
6300 Zug, Switzerland
Tel.: +41 41 500 16 90
Fax: +41 41 500 16 91
ir(at)manoilgroup.com
Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of
offers to purchase or subscribe to securities. There will be no public
offering of securities of Man Oil Group AG in conjunction with the existing
listing of its shares in the Open Market segment of the regulated
unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This
notice does not constitute a securities prospectus. Neither this notice nor
the information contained within is intended for direct or indirect
distribution within Canada, Australia or Japan.
End of Corporate News
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194895 27.11.2012
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