TORONTO, ONTARIO–(Marketwired – Aug. 13, 2015) – Augusta Industries Inc. (the “Corporation”) (TSX VENTURE:AAO), a developer and marketer of patented non-intrusive sensing systems, is pleased to announce that Edgardo Romero, the Director of Sales – Latin America for its wholly-owned subsidiary Fox-Tek Canada Inc. (“Fox-Tek”), recently attended the PIMS Latin America – Pipeline Integrity Management Seminar (the “Seminar”), organized by the National Association of Corrosion Engineers (NACE), in Quito Ecuador. Mr. Romero also presented to the attendees at the Seminar on the topic of “Non-Intrusive Monitoring Technologies of EFM and FBG Systems.” In addition to Mr. Romero, the Corporation’s local representative in Ecuador, Petro Energy, also attended the Seminar. Petro Energy is a service provider catering to the oil sector in Ecuador. They have focused on internal inspection using Intelligent Pigs and have had experience with Cathodic Protection for External corrosion.
Immediately after the conclusion of the Seminar, Mr. Romero had private meetings and presentations with Andes Petroleum, CENELEC, Electricity of Quito, SOTE; Petro Amazonas, Petro Ecuador, Rio Napo, OCP, TCHINT, and Ecuador Risk Center.
Mr. Romero continues to build his network of contacts in the region and has put together key alliances and relationships which will allow for a greater recognition of Fox-Tek’s product brand and services in the region. As a result of Mr. Romero’s efforts, the Corporation entered into non-disclosure agreements with Servicios ECOS Limitada (ONIX) of Chile, an engineering firm focused on projects in the mining sector with a focus of designing pipelines for transportation of copper and Total Resourceful Xolution S.A. of Mexico, a firm focusing on engineering solutions for pipeline internal and external corrosion. Total Resourceful Xolution S.A. is a Pemex contractor and is looking to expand its portfolio of products to include internal corrosion monitoring.
In addition, the Corporation also entered into a non-disclosure agreement with EQS of Portugal and Spain. The Company is an engineering company and service provider of asset integrity solutions and has offices in Qatar, Angola and Mozambique.
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.
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