Delek US Holdings and Delek Logistics Partners Name Assi Ginzburg as Chief Financial Officer
Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) a diversified energy
company with assets in the petroleum refining, retail and logistics
industries, and Delek Logistics Partners, LP (NYSE: DKL) (“Delek
Logistics”), a growth-oriented master limited partnership focused on
owning and operating midstream energy infrastructure, announced today
that Assi Ginzburg, currently an Executive Vice President for both
companies, has been appointed Chief Financial Officer of both Delek US
and the general partner of Delek Logistics effective immediately. He
succeeds Mark Cox, who will continue to serve as an Executive Vice
President of both companies through March 31, 2013 to ensure a smooth
transition.
“Assi has demonstrated significant leadership capabilities and played an
instrumental role in contributing to our company’s growth and strategic
vision for nearly a decade. His intimate knowledge of our operations and
financial processes makes him a natural choice to assume additional
responsibilities as our Chief Financial Officer,” remarked Uzi Yemin,
Chairman and Chief Executive Officer of Delek US and the general partner
of Delek Logistics. “I’d also like to thank Mark Cox for his
contribution to our company’s success over the last several years. We
wish him much success in his future endeavors.”
Mr. Ginzburg has been with Delek US since 2004 and Delek Logistics since
its inception in 2012, working in a variety of senior management and
financial roles. He also serves as a member of the board of directors of
the general partner of Delek Logistics. He also has been a member of the
Israel Institute of Certified Public Accountants since 2001.
Mr. Ginzburg stated, “We have significantly transformed and diversified
our businesses over the last few years, while simultaneously delivering
exceptional value to our investors. We remain intently focused on
continuing to improve our business and financial flexibility, and I look
forward to the challenge of taking on these new responsibilities and
helping our businesses continue to grow.”
About Delek US Holdings, Inc.
Delek US Holdings, Inc. is a diversified downstream energy company with
assets in petroleum refining, convenience store retailing and logistics.
The refining segment consists of refineries operated in Tyler, Texas and
El Dorado, Arkansas with a combined nameplate production capacity of
140,000 barrels per day. The retail segment supplies fuels and
merchandise through a network of approximately 372 company-operated
convenience store locations operated under the MAPCO Express®, MAPCO
Mart®, East Coast®, Fast Food and Fuel™, Favorite Markets®, Delta
Express® and Discount Food Mart™ brand names. Subsidiaries of Delek US
Holdings, Inc. also own 62.4 percent (including the 2 percent general
partner interest) of Delek Logistics Partners, LP. Delek Logistics
Partners, LP (NYSE: DKL) is a growth-oriented master limited partnership
focused on owning and operating midstream energy infrastructure assets.
About Delek Logistic Partners, LP
Delek Logistics Partners, LP was formed by Delek US Holdings, Inc. to
own, operate, acquire and construct crude oil and refined products
logistics and marketing assets. Delek Logistics’ assets consists of:
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Approximately 200 miles of transportation pipelines and a 600 mile
crude oil gathering system, in addition to associated storage
facilities with 1.4 million barrels of active shell capacity
supporting Delek US’ El Dorado and Tyler refineries;
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The Paline pipeline, a 185 mile crude oil pipeline from Longview to
Nederland, Texas;
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Delek US’ wholesale marketing business in Texas; and
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Five light product terminals, consisting of the Abilene, Big Sandy and
San Angelo terminals in Texas, as well as the Nashville and Memphis
terminals in Tennessee.
Safe Harbor Provisions Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based
upon current expectations and involve a number of risks and
uncertainties. Statements concerning our current estimates, expectations
and projections about our future results, performance, prospects and
opportunities and other statements, concerns, or matters that are not
historical facts are “forward-looking statements,” as that term is
defined under the federal securities laws.
Investors are cautioned that the following important factors, among
others, may affect these forward-looking statements. These factors
include but are not limited to: risks and uncertainties with respect to
the quantities and costs of crude oil we are able to obtain, the costs
to acquire refining feedstocks and the price of the refined petroleum
products we ultimately sell; management's ability to execute its
strategy through acquisitions and transactional risks in acquisitions;
our competitive position and the effects of competition; the projected
growth of the industries in which we operate; changes in the scope,
costs, and/or timing of capital projects; losses from derivative
instruments; general economic and business conditions, particularly
levels of spending relating to travel and tourism or conditions
affecting the southeastern United States; potential conflicts of
interest between our majority stockholder and other stockholders; and
other risks contained in our filings with the United States Securities
and Exchange Commission.
Forward-looking statements should not be read as a guarantee of future
performance or results and will not be accurate indications of the times
at, or by which such performance or results will be achieved.
Forward-looking information is based on information available at the
time and/or management's good faith belief with respect to future
events, and is subject to risks and uncertainties that could cause
actual performance or results to differ materially from those expressed
in the statements. Neither Delek US nor Delek Logistics undertakes any
obligation to update or revise any such forward-looking statements.
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