CALGARY,
June 15, 2011 /PRNewswire/ - CE
Franklin Ltd. (NASDAQ: - CFK, TSX: - CFT) announced today
that Mr. Dharmesh Prasad, Global
Materials Manager of Schlumberger Limited ("Schlumberger"), CE
Franklin's majority shareholder, was appointed today as the new
Schlumberger representative to the Board of Directors of CE
Franklin. Mr. Prasad replaces Kjell-Erik Oestdahl who has stepped
down from our Board due to time commitments and expanded
responsibilities in connection with his recent promotion as
Vice-President, Operations of Schlumberger.
Mr. Prasad has extensive experience in various
senior operational and corporate management positions within
Schlumberger, working in ten different countries. In his
current role, he is responsible for advising on the strategic and
tactical direction for inventory management and the distribution,
consolidation and optimization of warehousing across Schlumberger.
He holds an MBA in Finance from the University
of California and a Bachelor's degree in Electrical
Engineering from the Indian Institute of
Technology.
"We thank Kjell-Erik Oestdahl for his commitment
and contribution and welcome Dharmesh
Prasad to the Board. His extensive experience in the
oilfield supply industry, including marketing and strategy
development, complements the background and skills of the Board.
This will be of benefit to all of our shareholders, as we continue
to grow our business and advance our efficiency and diversification
strategies," said President & CEO Michael S. West.
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 oilsands, 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 basin.
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.