Paul F. Wengert

As Director of Business Development, Paul has been in the investment recovery industry for over 20 years. He is one of only 3 professionals in our industry to hold the distinguished honor of CMIR Fellow. Paul was the Director of Investment Recovery and Recycling for Phillips Petroleum Company from 1985 to 1994. He managed a 7-man team that was responsible for the identification, inventory, redeployment (transfer) and sale of surplus inventories and equipment from domestic and international facilities. The scope of responsibility included all refineries, chemical plants, pipeline companies, plastics plants and gas generation plants. The financial contribution from the Investment Recovery Department from redeployments and asset sales ranged from $8 million to $20 million dollars per year and averaged $14 million.

He founded Investment Recovery Management, Inc. ("IRMI") in 1994. He grew his company from 2 people to 26 full-time employees, plus temporary and contract workers. IRMI was an outsource investment recovery service provider contracted to long-term (one year or more) contracts to multi-plant fortune 1000 companies. Clients included Transco energy, Mobil Oil, Compaq Computer, Sun Oil, Conoco, Phillips Petroleum, Kraft Foods, and U.S. Department of Energy, ARCO Petroleum, K-N Energy, Commonwealth Edison of Chicago and Occidental Chemical. Gross contribution to client's recovery of asset value, over 6 years, was approximately $30 million.

Paul is a past president of the Investment Recovery Association and has been a member for 20 years. He authored and teaches the Asset Disposition training course for the Investment Recovery Association's Managers' certification course. He holds both a B.S. and M.S. in Business. He is a 20 year veteran of the Air Force.

His memberships and certifications include:

• Past President, International Investment Recovery Association
• Board of Directors, International Investment Recovery Association (8 years)
• Member, American Society of Appraisers (Machinery and Equipment)
• American Petroleum Institute Surplus Asset Management Committee
• Board Member, Solid Waste Institute of Oklahoma
• Member, Arkansas Recycling Coalition
• Certified Environment Assessment Auditor
• Member, Facilities Management Association
• Certified Manager of Investment Recovery Fellow (CMIRF)

Presentations include:

• Teaches Asset Disposition Techniques for the Investment Recovery Association
• US Department of Energy (DOE) Engineering and Facilities Manager's Workshop
• Authored and instructs Asset Disposition and Asset identification certification training modules for the Investment Recovery Association
• The Conference Board
• National Property Managers Association
• Society of Logistics Engineers
• American Production Inventory Control Society
• National Rural Electric Cooperative Association
• Strategic Research Institute
• Oklahoma Governors Conference on Recycling Markets
• Arthur D. Little/Ashland Oil Company conference on Asset and Waste Management
• Oklahoma Joint House-Senate Committee on Pollution Prevention
• International Investment Recovery Association

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