American Gilsonite Announces Retirement of Chief Accounting Officer Doug Maughan

HOUSTON, April 21, 2016 /PRNewswire/ -- American Gilsonite Company, Inc. ("American Gilsonite" or "AGC"), the world's major supplier of Gilsonite®, today announced the retirement of Chief Accounting Officer, Doug Maughan, effective April 15, 2016.  From 2008 to 2015, Maughan served as Chief Financial Officer of American Gilsonite.  In November 2015, he announced his anticipated retirement and, since that time, stayed on as the Chief Accounting Officer of the Company.

David Gallagher, President and Chief Executive Officer, said, "We thank Doug for his dedicated work over the last seven plus years and wish him the best of luck in his retirement."

About American Gilsonite Company (www.americangilsonite.com)
AGC operates as an industrial minerals company and is the world's primary miner and processor of uintaite, a variety of asphaltite, a specialty hydrocarbon which AGC markets to industrial customers under its registered trademark name "Gilsonite®".  Gilsonite is a glossy, black, solid naturally occurring hydrocarbon similar in appearance to hard asphalt and is believed to be found in commercial quantities only in the Uinta Basin in northeastern Utah.  Because of its unique chemical and physical properties, Gilsonite has been used in more than 160 products.  The Company sells its products to customers in four primary markets: (i) oil and gas, (ii) inks and paints, (iii) foundry and (iv) asphalt. AGC is headquartered in Bonanza, Utah.  AGC is a privately held, portfolio company of Palladium Equity Partners III, L.P.

Contact
Peter Hill
Kekst and Company
212-521-4800
[email protected]

SOURCE American Gilsonite Company, Inc.

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http://www.americangilsonite.com