DUBAI, UAE, May 8, 2023
/PRNewswire/ -- Borets International Limited, a global leader in
artificial lift engineering, manufacturing, sales, and servicing of
electric submersible pumps (ESP), announced the growing and
evolving Company has undergone restructuring to reach this exciting
juncture where the international business is a distinct and
separate division. Accordingly, the rebranding of the company to
Levare International Limited (Levare or Company) better aligns with
the forward-thinking mindset of new leadership. This change
reflects our growing portfolio of artificial lift solutions offered
to our global clients within the oil & gas, mining, geothermal
and municipal industries.
"Levare", meaning 'lift' in Latin, embodies the Company's
strategic blueprint for growth, the Company's vision of natural
resource inclusion and its commitment to uplifting its employees,
customers and other stakeholders to a culture of innovation,
investment and diversification. The focus on product quality
and customer satisfaction, as well as the values of transparency,
versatility, inclusion and reliability remain intact, but with an
intentional approach on trust and transformation. The Company also
plans to extend its international footprint and technical support
with the establishment of its Monterrey manufacturing center in Q3,
2023. The new facility allows Levare to have a secure and
independent supply chain as we expand our business into the green
Geothermal sector, as well as the Mining and Municipal
markets.
And, as the Company embarks on this new path, it will do so
under new leadership with the appointment of a new Chief Executive
Officer and Chairman.
The Shareholder and Board of Directors are pleased to announce
the appointment of Merrill A. Miller,
Jr. as Chief Executive Officer and Chairman of Levare.
Merrill, more commonly known as Pete, has had 40 highly successful
years in oil services industry.
Mr. Miller started his career in various capacities at Helmerich
& Payne International Drilling Co. for 15 years, culminating as
VP of US Drilling Operations. From 1996 – 2014, Pete served in
various executive roles building National Oilwell Varco [NYSE:NOV],
including 13 years as Chairman and CEO. As a result of the
outstanding success that he brought to NOV, Pete was awarded the
'Morningstar CEO of the Year Award' in 2012. In 2014, Pete became
Executive Chairman of the NOV spinoff company, DistributionNOW
[NYSE:DNOW] before retiring. In May
2015, Pete was appointed Chairman of the Swiss offshore
drilling company, Transocean Ltd. [NYSE:RIG]. In addition to
Transocean, Pete has served on the Board of Chesapeake Energy
Corporation, The Offshore Energy Center, The Petroleum Equipment
Suppliers Association and Spindletop International. He has
also served as Chairman of Borets International and in the past 15
months Pete has served as Chairman and Chief Executive Officer of
HMH Inc., an oilfield equipment manufacturer.
Pete holds a Degree in Applied Science and Engineering from the
U.S. Military Academy at West Point and
an MBA from Harvard Business
School.
"Over our 70-year evolution, Levare has transformed from a pump
provider to a multifaceted artificial lift solutions provider to
the global energy market. As a client-focused organization with an
engineering mindset, we listen to our clients and respond to their
changing needs within the technically challenged landscape they
operate. The breadth of offerings that our team of industry experts
provides to our clients, from sustainable technologies like our
market-leading permanent magnet motor, to the strategically located
facilities throughout the world, is continuing to grow every day
through organic evolution, innovation, and manufacturing
bandwidth."
- Pete Miller, CEO and
Chairman
About Levare International Limited:
Levare International Limited (Levare), headquartered in
Dubai, UAE, is a market leader in
artificial lift engineering, manufacturing, sales, and servicing of
electric submersible pumps (ESP), permanent magnet motors (PMM) and
horizontal pump systems (HPS). A pioneer in engineering
innovation, Levare develops the most advanced technologies for
energy-producing companies, taking care to focus on efficiency and
environmental impact. Our electrically-driven technology,
comprehensive service capabilities, and global expertise assists
customers to produce more oil or transfer more surface fluids by
the most cost-effective means. Levare has more than 1000+
employees, strategically located in two manufacturing centers, 10
manufacturing and repair centers, and four service centers.
Visit www.levare.com to learn more.
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SOURCE Levare International