Al Amatuzio, president and CEO of AMSOIL INC., today was named Business Person of the Year by the University of Minnesota Duluth (UMD) Labovitz School of Business and Economics. The award was presented by UMD Chancellor Lendley C. Black.
Al Amatuzio served as a jet fighter pilot and squadron commander for 25 years. During his flying career as a lieutenant colonel, Amatuzio was recognized by the Duluth Air National Guard unit for winning the William Tell Air-to-Air Shootout Competition, as well as the prestigious Earl T. Ricks Competitive Shootout.
In the mid-1960s, Amatuzio began work on a product that would ultimately set new standards in the motor oil industry. In 1972, he founded AMSOIL INC. and introduced the world's first synthetic motor oil. Amatuzio, AMSOIL INC., and its employees went on to develop a long list of industry firsts, including synthetic transmission fluids, racing oils, diesel oils, and two-cycle oils.
In 1994, Amatuzio gained recognition as a pioneer in the lubricants industry with his induction into the Lubricants World Hall of Fame. AMSOIL INC. is recognized as a world leader in automotive, commercial and industrial lubrication.
Recently Amatuzio purchased the naming rights to AMSOIL arena, the new 34,000 square-foot arena in downtown Duluth. Chancellor Black said, "Al's strong ties to the community and his commitment to the Twin Ports are evident in his naming the AMSOIL arena."
Amatuzio received the award at the Joel Labovitz Entrepreneurial Success Awards sponsored by UMD's Center for Economic Development on Wednesday, April 20, 2011, at the Duluth Entertainment Convention Center.
During the past 40 years, the Labovitz School of Business and Economics has recognized a business leader who has made an impact in their area of expertise, contributed to the region's economy, and served as a role model for UMD students.