Socotherm Names New CEO

Socotherm announced the appointment of Paul DeWeese as its new Chief Executive Officer.

Mr. DeWeese has worked extensively in the area of oilfield services and supplies, initially with Cameron Compression Services (Cooper Cameron) and subsequently with CRC-Evans International where he was President of the Automatic Welding Division, a leading supplier to the global pipeline industry.

The controlling shareholders and board members of Socotherm expressed strong enthusiasm with the appointment of Mr. DeWeese.

Diego Alvarez-Demalde of Sophia Capital said, "Paul's leadership skills and experience in the sector will be critical as we increase further our focus on technology and the competitiveness of our customers."

Tighe Noonan of 4D Global Energy stated, "We are confident that his in-depth knowledge of the global pipeline marketplace and strong experience in international sales and manufacturing will help lead Socotherm group through a new phase of growth and technical innovation building on its worldwide presence and multicultural identity."

Federico Schargorodsky of Sophia Capital added, "the appointment of Paul DeWeese is another key step to be successful in the execution of our new strategic plan."