Mansfield Oil Launches Holding Company, Mansfield Energy
Transportation fuels business has evolved beyond marketing of refined petroleum products
GAINESVILLE, Ga. -- Mansfield Oil Co. has launched Mansfield Energy Corp., the company's newly formed holding group. The restructuring of Mansfield Oil is part of an overall strategic initiative intended to accommodate the growing diversification of companies, products and services that now fall under the Mansfield brand.
"The formation of Mansfield Energy Corp. allows us to move into the future while remaining true to our core customers," said Mansfield Energy CEO Michael Mansfield. "Our transportation fuels business has evolved beyond the marketing of refined petroleum products and today includes liquefied and compressed natural gas (L/CNG), specialty chemicals and renewable fuels. Our new holding company, Mansfield Energy Corp., provides the needed flexibility to evolve and grow our business in support of its long range objectives."
Current Mansfield Oil president J. Alexander has been promoted to president of Mansfield Energy, where he will focus on managing the company's portfolio of assets, acquisitions, joint ventures and corporate initiatives. Former executive vice president and CIO Doug Haugh has been named president of Mansfield Oil to lead the transportation fuels business while CFO John Byrd will lead the administrative and accounting teams as executive vice president of administration and CFO.
"I'm excited to move into my new role with the added responsibilities as president of Mansfield Energy Corp.," said J. Alexander. "This transition supports the opportunity to develop new product and service offerings while maintaining our focus on providing competitive, reliable supply of diesel and gasoline to our customers."
Mansfield Energy will oversee specific service divisions such as Fuel Systems & Services and Mansfield Gas Equipment Systems while all refined product sales and marketing will fall under Mansfield Oil.
"Our customers rely on us to solve their transportation fuel challenges," added Michael Mansfield. "To remain a trusted advisor to our stakeholders, it is essential for us to continually evolve our organization in a way that brings value to their businesses. Mansfield Energy Corp. enables our continued investment in the development of additional solutions for our customers who face both challenges and opportunities with the integration of renewable fuels and natural gas as transportation fuels while reducing NOX emissions with new SCR engines that use diesel exhaust fluid (DEF)-based technology."
Said Haugh: "Our customers are telling us that the new fuels and fluids available in the market today are critical to their ability to drive down costs as well as emissions. The evolution of our corporate structure ensures that we have talented and dedicated staff managing those products available today while also developing the long-term solutions that customers will rely on in the years to come."
Mansfield Energy operates as a holding company for a North American energy supply, logistics and services enterprise. Established in November 2010, Mansfield Energy Corp.'s operating subsidiaries include Mansfield Oil, C&N Ethanol Marketing LLC, Mansfield Renewable Energy LLC, Mansfield Systems Inc., Mansfield Gas Equipment Systems Corp., Mansfield Fuel Systems LLC and Mansfield of Canada ULC.