NEW YORK Shale-Inland
Holdings LLC has named Richard "Rick" Lundgren as chief
"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
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
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