Arctic Slope Regional Corporation Announces New Acquisition

ASRC PRESS RELEASE 9/20/2017
 

US Coatings is now an ASRC Industrial Services Company

Arctic Slope Regional Corporation (“ASRC”) is pleased to announce the acquisition of US Coatings, Inc. (“USC”) by our wholly-owned subsidiary ASRC Industrial Services, LLC (“AIS”).

Headquartered in Mobile, Alabama, USC was founded over ten years ago. USC is a specialty industrial services contractor serving the marine industry. USC specializes in providing interior tank coating, cleaning and surface preparation services for assorted Maine vessel tanks, including cargo, ballast and freshwater. Additionally, USC is an applicator of advanced coatings and protective systems for marine hulls, decks and superstructures. USC operates across the Gulf Coast, in the Midwest and the Mid-Atlantic serving multiple end-markets within the marine industry – including transportation, logistics, tourism, leisure, commercial fishing and the federal government.

USC will become a component of AIS’s Construction, Maintenance and Repair (“CMR”) operating group.

“On behalf of ASRC’s board of directors, I am pleased to welcome the talented employees of US Coatings to the ASRC family of companies,” said Rex A. Rock Sr., president and CEO of ASRC. “The acquisition of USC demonstrates continued progress and commitment to the execution of the AIS strategy that was announced last September and we believe will deliver long-term value for ASRC shareholders.”

“The management team and talented workforce at USC have worked together to build the Company’s reputation as a customer-centric, value-added service provider,” said Greg Johnson, president and CEO of AIS. “The addition of USC to AIS’s CMR operating group positions AIS to provide increased development opportunities for employees, as well as increased value to existing and new customers.”

“The vision and strategy ASRC has embraced for AIS is unique in the industrial services market and will ultimately become a competitive differentiator,” said Cecil Williams, president of USC. “The USC management team looks forward to working with the AIS team to provide increased opportunities for our employees, additional services to our customers and ultimately financial returns for ASRC’s shareholders." ​​

About ASRC

Arctic Slope Regional Corporation is owned by and represents the business interests of the Arctic Slope Iñupiat. Since opening enrollment in 1989 to Alaska Natives born after 1971, the corporation’s shareholder base has nearly tripled, growing from the 3,700 original enrollees to around 13,000 today. Corporate headquarters are based in Utqiaġvik (Barrow), Alaska, with administrative and subsidiary offices located in Anchorage and throughout the United States. ASRC, along with its family of companies, is the largest Alaskan-owned company, employing approximately 12,000 people worldwide. The company has six major business segments: petroleum refining and marketing, energy support services, industrial services, construction, government services and resource development.

PO BOX 129 BARROW AK 99723 (907) 852-8633