Industry News

Corrpro Names William V. Larkin, Jr. President and CEO

Published on 2006-08-07. Author : SpecialChem

MEDINA, Ohio -- Corrpro Companies, Inc. (Pink Sheets: CRRP - News) announced that its Board of Directors has named William V. Larkin, Jr. President and Chief Executive Officer of Corrpro effective as of August 1, 2006. Mr. Larkin has also been appointed to serve on Corrpro's Board of Directors effective as of the same date.

Mr. Larkin was previously President and CEO of Tuboscope Vetco International, a worldwide publicly traded oilfield service company. Tuboscope's product lines included corrosion detection and corrosion prevention services for the oilfield, pipeline and above ground storage tank markets. Mr. Larkin spent a total of 14 years with Tuboscope. After Tuboscope, Mr. Larkin served from 1999 to 2002 as President and CEO of Travis International, a privately held industrial service company with operations in distribution, construction and telecom. Mr. Larkin joins Corrpro from the Six Stars Club, a personal assistance services firm which he founded in 2003.

Mr. Larkin stated, "I believe that my prior experiences at both Tuboscope and Travis will add value at Corrpro. Having managed companies with similar services, delivery systems and organizational structures, I understand Corrpro's business and industry and should be able to contribute quickly. I am looking forward to working with the already strong Corrpro team."

According to Jim Johnson, Corrpro's Chairman of the Board, "Corrpro was looking for someone with a proven track record of successful leadership who had knowledge of the corrosion services sector, the ability to positively interact with both employees and customers, and the desire to create value. Mr. Larkin very much meets these criteria. We believe that he will not only set strategy, but will have the experience and leadership skills to make it happen. We are very pleased to have him as part of the Corrpro team."

Mr. Larkin succeeds Mr. Johnson, who has been acting CEO and will remain as Chairman of the Board.

Corrpro, headquartered in Medina, Ohio with over 30 offices worldwide, is the leading provider of corrosion control engineering services, systems and equipment to the infrastructure, environmental and energy markets around the world. Corrpro is the leading provider of cathodic protection systems and engineering services, as well as corrosion protection services relating to coatings, pipeline integrity and reinforced concrete structures.

Except for historical information, the matters discussed in this press release may include forward-looking statements relating to the business of Corrpro. Words such as "anticipates," "expects," "intends," "plans," "should," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are based on management's expectations as of the date hereof. The Company believes that the following factors, among others, could affect its future performance and cause its actual results to differ materially from those that are expressed or implied by forward-looking statements: actual financial results of the Company; effects resulting from the transition to a new President and CEO; fluctuations in foreign currency exchange rates; the Company's mix of products and services; the timing of projects; the availability and value of larger projects; qualification requirements and termination provisions relating to government projects; the impact of inclement weather on the Company's operations; the impact of energy prices on the Company's and its customers' businesses; adverse developments in pending litigation or regulatory matters; the impact of existing, new or changed regulatory initiatives; the impact of one entity holding a majority of the voting power of the Company; and the impact of changing global political and economic conditions. The Company assumes no obligation to update any of the information contained or referenced in this press release.

Source: Corrpro Companies, Inc.

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