Controlling Shareholder of Alon USA Purchases Company’s Shares
DALLAS, March 13 /PRNewswire-FirstCall/ — Alon USA Energy, Inc. (“Alon” or the “Company”) today announced that Alon Israel Oil Company Ltd., Alon’s controlling shareholder, had notified the Company that Alon Israel had purchased shares of Alon common stock traded on the New York Stock Exchange.
Mr. Itzhak Bader, Chairman of the Board of Alon Israel, stated to the Company, “As a shareholder, we are confident in management’s abilities to repair the recent damage to the Big Spring refinery in a timely fashion and to successfully implement and manage the growth initiatives and strategic projects previously announced by Alon USA. Our purchase of shares of Alon USA is an expression of this confidence.”
Alon also announced that it had received notice that David Wiessman, the Company’s Executive Chairman, had separately purchased shares of the Company’s common stock as a vote of confidence for the Company and its management team.
Alon Israel and Mr. Wiessman further informed Alon that each intended to make additional purchases of the Company’s common stock. The purchases by Alon Israel and Mr. Wiessman are being effected in accordance with the volume limitations and other provisions of the safe harbor set forth in Rule 10b-18 under the Securities Exchange Act.
Alon USA Energy, Inc., headquartered in Dallas, Texas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The Company owns and operates four sour and heavy crude oil refineries in Texas, California and Oregon, with an aggregate crude oil throughput capacity of approximately 170,000 barrels per day. Alon markets gasoline and diesel products under the FINA brand name and is a leading producer of asphalt. Alon also operates more than 300 convenience stores in West Texas and New Mexico primarily under the 7-Eleven and FINA brand names and supplies motor fuels to these stores from its Big Spring refinery. In addition, Alon supplies approximately 800 additional FINA branded locations.
Contacts: Claire A. Hart, Senior Vice President Alon USA Energy, Inc. 972-367-3649 Investors: Jack Lascar/Sheila Stuewe DRG&E / 713-529-6600 Media: Blake Lewis Lewis Public Relations 214-269-2093 Ruth Sheetrit SMG Public Relations 011-972-547-555551
Alon USA Energy, Inc.
CONTACT: Claire A. Hart, Senior Vice President of Alon USA Energy, Inc.,+1-972-367-3649; or investors, Jack Lascar or Sheila Stuewe, both of DRG&E,+1-713-529-6600, for Alon USA Energy, Inc.; or media, Blake Lewis of LewisPublic Relations, +1-214-269-2093, or Ruth Sheetrit of SMG Public Relations,011-972-547-555551, both for Alon USA Energy, Inc.
