TORONTO, ONTARIO–(Marketwired – June 17, 2015) – Augusta Industries Inc. (the “Corporation”) (TSX VENTURE:AAO) is pleased to announce that its wholly owned subsidiary, FOX TEK Canada Inc. (“Fox Tek”), has been selected as a preferred supplier of Stork Technical Services (RBG) Limited (“Stork”), a leading global provider of knowledge-based asset integrity management services.
The goal of the relationship is for Stork to build and expand upon its non-intrusive corrosion monitoring capabilities, by becoming a full Electric Field Mapping (EFM) provider to the European market, with gradual growth into Eastern Europe and Asia. The Corporation will provide Stork with engineering services, data analysis and the ability to fully customise bespoke solutions for its clients.
“By collaborating with a well-respected and established company such as Stork, the Corporation has an opportunity to gain exposure to new markets which it could not otherwise do on its own,” says Allen Lone, President and Chief Executive Officer of the Corporation. “The combined resources, knowledge and expertise of Stork and the Corporation will allow the companies to provide clients with best in class solutions to their various challenges.”
About the Corporation:
Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox Tek, the Corporation provides a variety of services and products to a number of clients.
Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.
Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.
Stork offers services and products associated with maintenance, modifications and assurance of asset integrity (MMI) of production facilities. Stork delivers technical support that spans the asset lifecycles of our customers operations. From concept through to execution – Stork aims to reduce risk, assure safety and improve asset performance for its customers to enhance their profits.
With 16,500 employees worldwide (UK & Africa, North and South America, Continental Europe, Middle East, Asia-Pacific), Stork provides innovative solutions and integrated thinking and doing in the areas of asset integrity; maintenance, modifications, consultancy, inspections, repair, renovations, relocations and other related complex projects to the global Oil & Gas, Chemical and Power sectors.
For more information, please visit www.stork.com.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation’s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Augusta Industries Inc.
(905) 338 -2323 Ext 22