HOUSTON, Jan. 12, 2015 /PRNewswire/ -- Willbros
Group, Inc. (NYSE: WG) today announced that Harry New has rejoined the company as President
of its Oil & Gas segment, where he will have operating
responsibility for the Company's portfolio of oil and gas
construction services in the United
States. Mr. New will report operationally to Michael Fournier, President and Chief Operating
Officer. Mr. New was previously with Willbros in the 2005-2011
timeframe when he last headed the mainline pipeline construction
activities of the company as President, U.S. Construction.
John T. McNabb, II, Chairman and
Chief Executive Officer, commented, "Harry
New brings 28 years of experience to our Oil & Gas
segment. He is an executive with the respect of the industry and an
enviable track record in the pipeline construction industry. His
leadership, operations expertise and relationships will bolster our
new team and return focus to meeting client expectations and
delivering safe, quality projects on time and on budget. We welcome
his return and know that our team will be strengthened with his
addition."
Mr. Fournier added, "Harry New
has the experience and credentials to positively impact our Oil
& Gas operations. His major project experience and knowledge of
engineering, construction and project management will provide the
Oil & Gas segment with the competency and oversight necessary
to return our oil and gas operations to reliable and profitable
performance."
Willbros is a specialty energy infrastructure contractor serving
the oil, gas, refining, petrochemical and power industries. Our
offerings include engineering, procurement and construction (either
individually or as an integrated EPC service offering),
turnarounds, maintenance, facilities development and operations
services. For more information on Willbros, please visit our web
site at www.willbros.com.
This announcement contains forward-looking statements.
All statements, other than statements of historical facts, which
address activities, events or developments the Company expects or
anticipates will or may occur in the future, are forward-looking
statements. A number of risks and uncertainties could cause
actual results to differ materially from these statements,
including unanticipated accounting or other issues regarding any
material weakness in internal control over financial reporting as a
result of the restatement of financial statements; inability of the
Company or its independent auditor to confirm relevant information
or data; unanticipated issues that prevent or delay the Company's
independent auditor from completing its review of financial
statements or that require additional efforts, procedures or
review; the untimely filing of financial statements; the impact of
any investigations and lawsuits; the identification of one or more
issues, including those relating to the restatement discussed
above, that require restatement of one or more other prior period
financial statements; ability to remain in compliance with, or
obtain waivers under, the Company's existing loan agreements;
inability to obtain adequate financing on reasonable terms; ability
to dispose of businesses and assets in a timely manner at
reasonable valuations; the existence of other material weaknesses
in internal control over financial reporting; contract and billing
disputes; new legislation or regulations detrimental to the
economic operation of refining capacity in the United States; availability of quality
management; availability and terms of capital; timely award of
prospective projects the Company is pursuing; changes in, or the
failure to comply with, government regulations; the promulgation,
application, and interpretation of environmental laws and
regulations; future E&P capital expenditures; oil, gas, gas
liquids, and power prices and demand; the amount and location of
planned pipelines; poor refinery crack spreads; delay of planned
refinery outages and upgrades and development trends of the oil,
gas, power, refining and petrochemical industries; as well as other
risk factors described from time to time in the Company's documents
and reports filed with the SEC. The Company assumes no
obligation to update publicly such forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by law.
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CONTACT:
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Michael W.
Collier
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Leah
Martinez
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SVP Investor
Relations
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Corporate Marketing
Manager
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Marketing &
Communications
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Willbros
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Willbros
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713-403-8084
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713-403-8038
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SOURCE Willbros Group, Inc.