CONROE, Texas, February 19, 2009 – PRNewswire -- Hemiwedge Industries (OTC Bulletin Board: HWEG - News) announced today that its Hemiwedge Valve Corporation (HVC) subsidiary has a new purchase order for approximately three hundred seventy thousand dollars from a major refinery in North Africa.
The Company stated that the order’s sizes range from two inch to twenty inch bore size in ANSI 150 to 600 Class. The Hemiwedge® Cartridge Valve product line will be utilized for a variety of critical service valves in the refinery.
Mr. Stan Allen, HVC’s Executive Vice President said, "After a significant testing and evaluation phase in acid gas service, the Hemiwedge® Cartridge Valve was selected for critical isolation valves in a variety of ambient and high temperature services within the refinery. We are very pleased to announce this significant order within the oil refining industry.”
The Company’s current product line is two inch size through twenty inch and pressure classes from ANSI 150 through 1500 class and API 6D monogrammed applications. Multiple internal trim packages are available including metal-seated valves for high temperature or severe service applications. The Hemiwedge Cartridge Valve’s value to refining applications originate from its strong mechanical seal for repeatable tight shutoff and its unique cartridge design which permits quick and easy maintenance to avoid costly downtime.
The proprietary Hemiwedge® Cartridge Valve product line is an innovative design that incorporates the positive features of ball, gate, plug and high performance valves resulting in a mechanically sealing, tight shutoff valve with a simple operation that provides outstanding longevity and performance in a broad range of applications. The cartridge technology encases all the internals of the valve within the cartridge and allows rapid in-line replacements, significantly reducing down-time and supply disruption, especially in higher maintenance service applications containing entrained solids such as line scale, sand, and debris.
About Hemiwedge Industries, Inc.
Hemiwedge Industries is a publicly-traded holding company that operates as a global supplier of engineered valve products through its Hemiwedge Valve Corporation (“HVC”) subsidiary. In its 60,000 square foot ISO 9001 and API Q1 approved facility in Conroe, Texas, the Company manufactures and markets worldwide a patented proprietary new valve technology known as the Hemiwedge® Cartridge Valve product line. The Hemiwedge® Cartridge Valve is an innovative design that incorporates the positive features of ball, gate, plug, and high performance valves resulting in a mechanically sealing, tight shutoff valve with a simple operation that provides outstanding longevity and performance in a broad range of applications with virtually no maintenance. HVC’s Hemiwedge® Cartridge Valve product line targets ANSI class and API 6D applications such as refining, mining, process, pipeline, mid-stream, and petro-chemical markets. For additional information on the Company and its cartridge valve, please visit www.hemiwedge.com.
Forward-Looking Statements
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, customer concentration risk, difficulties in refinancing or restructuring its debt, difficulties in accelerating internal sales growth, volatility of the energy business and its effects on the Company's business, difficulties in new technology acceptance within the energy and process industries, restrictive covenants in our existing credit facilities, fluctuations in metals prices, political and economic global supply chain risk, general economic conditions in markets in which we do business, extensive environmental and workplace regulation by federal and state agencies and other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission. All information provided in this release and in the attachments is as of February 19, 2009 and the Company undertakes no duty to update this information.
Contact:
North Coast Advisors, Investor Relations for the Company:
Craig Stewart, Principal, at 585-218-7371, or,
Don Michlin, Principal, at 936-271-2423
The Company:
Hemiwedge Industries, Inc., Conroe, Texas
Matthew Flemming, CFO 936-539-5770
Source: Hemiwedge Industries, Inc.