NEW YORK Shale-Inland Holdings LLC has named Richard "Rick" Lundgren as chief executive officer.
"Shale is a little more than two years old and we now have 47 facilities and revenues bumping up against a billion dollars. To continue a growth trajectory like that, you need management talent," company founder Craig Bouchard told AMM. Bouchard, who had previously held the position of chief executive officer, will now be chairman of the board.
Lundgren was most recently president of Tyco Thermal Controls, a subsidiary of Switzerlands Tyco International Ltd., and has held executive positions at Monsanto Co., Huntsman Corp. and Flowserve Corp., according to the company.
"Rick has a great background running a large entity and a good track record," Bouchard said.
Chicago-based Shale-Inland recently sold $250 million in fixed-rate bonds (amm.com, Oct. 30), which gives it financial flexibility to pursue further acquisitions, he added.
"Were looking at a few acquisitions now," Bouchard said, declining to provide further details.
The company has already made a number of buys in energy-related fields, a sector in which Bouchard sees a bright future.
"The mega-trend here is the incredible resource of natural gas in America, and Shale-Inland is now positioned in the heart of that whole trend," he said.