Varel International President and CEO Jim Nixon Named
Ernst & Young Entrepreneur Of The Year® 2010 Award Winner in Southwest Area - North
Award Recognizes Entrepreneurial Excellence in
Manufacturing and Distribution Category
(CARROLLTON, Texas- 23 June 2010)- Varel International, the largest independent drill bit supplier in the oil and gas market and the premier supplier in the mining and industrial markets, today announced that Jim Nixon, President and CEO, received the Ernst & Young Entrepreneur Of The Year® 2010 Award in the Manufacturing and Distribution category in the Southwest Area - North. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Nixon was selected by an independent panel of judges, and the award was presented at a gala event at the Dallas Sheraton on June 19, 2010.
"It is truly an honor to receive this distinction and I believe each honoree in the manufacturing and distribution category was deserving of recognition for their entrepreneurial spirit," said Nixon. "I feel extremely fortunate to be in this position. Our outstanding team at Varel works hard each day to grow our company; this award is as much theirs as it is mine, I applaud their efforts."
Nixon has been at the helm of the company since spearheading an investor-backed management buy-in of the small, family-owned Varel Company in 1998. Under his direction the company has prospered, being named to the Inc. 5000 list of fastest growing private companies in the US in both 2008 and 2009.
The Ernst & Young Entrepreneur Of The Year awards celebrate their 24th anniversary this year. The program honors entrepreneurs who have demonstrated exceptionality in such areas as innovation, financial performance and personal commitment to their businesses and communities.
As a Southwest Area - North award winner, Nixon is now eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year 2010 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 13, 2010. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.
In the Southwest Area North., sponsors include Smith Frank & Partners; First United Bank & Trust, Roach, Howard, Smith & Barton, Solomon Edwards Group, VIP Search, Ussery Printing, D CEO Magazine, Munsch, Hardt, Kopf & Harr, Pierpont Communications, Fort Worth Business Press, Journal Record, and Smart Business Magazine.
About Varel International
Founded in 1947, Varel International is the world's largest independent supplier in the global oil & gas drill bit market. Headquartered in Carrollton, Texas, Varel services oil & gas, mining, and industrial markets with its comprehensive suite of roller cone and fixed cutter drill bits. The company employs more than 1,000 people and has manufacturing facilities in Carrollton, Texas; Houston, Texas; Matamoros, Mexico and Tarbes, France, as well as sales offices throughout the world. Varel's proprietary design capabilities, efficient manufacturing, and global sales force uniquely positions the company to provide high-quality drill bits that deliver excellent performance and value to its customer base. For more information, visit www.varelintl.com.
About Ernst & Young's Entrepreneur Of The Year® Awards Program
Ernst & Young's Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited located in the U.S.
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