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Hemiwedge Valve Corp selects Lytle Valve as Sales Representative for its Hemiwedge(R) Cartridge Valve product line in Western Canada
2008-07-23 08:30:00
Hemiwedge Valve Corp selects Lytle Valve as Sales Representative for its Hemiwedge(R) Cartridge Valve product line in Western Canada
CONROE, Texas, July 23 /EMWNews/ -- Shumate Industries (OTC Bulletin Board: SHMT) announced today that its Hemiwedge Valve Corporation division has appointed Lytle Valve Sales and Solutions Ltd. of Edmonton, Canada, as its sales representative for Hemiwedge(R) Cartridge valve in Western Canada. Lytle Valve is a leader in the supply of critical service valves in challenging applications within oil and gas production, tar sands, chemical, refinery, power and pulp industries in the region. Sales coverage includes the oil sands rich territory of Alberta and Saskatchewan of Canada as well as British Columbia and Manitoba. Mr. Ihor Nowostawsky, co-owner and manager of Lytle Valve, said, "Imagine, a metal-seated top-entry, quarter-turn valve which can be inspected, trim changed or repaired inline in less than 30 minutes. This is a natural for Western Canada's heavy oil, tar sands, petrochemical and conventional oil and gas applications." Lytle Valve is focused on providing sourcing solutions and application recommendations for their clients. The Hemiwedge(R) Cartridge valve is an innovative design that incorporates the positives 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 minimal maintenance. The proprietary Cartridge technology encases all the internals of the valve within the Cartridge and allows 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. Stan Allen, Executive Vice President for Hemiwedge Valve Corporation, said, "The Company crossed a major milestone with Canadian Registration of its Hemiwedge(R) Cartridge valve product line and the signing of this new sales partner. Lytle Valve has been serving Western Canada with a very experienced and technically knowledgeable staff, and we are confident in their ability to demonstrate the value of the Hemiwedge(R) Cartridge valve to their clients." Mr. Allen further stated, "The oil sands market, including steam assisted gravity drainage (SAGD), for our valve represents a major opportunity for growth in the Hemiwedge(R) Cartridge valve product line." Shumate Industries, Inc. is a Texas-based energy field services company that incorporates new technologies to bring products to market leveraging its existing infrastructure, expertise and customer channels. The Company operates through two wholly owned subsidiaries: 1.) Shumate Machine Works, a contract machining and manufacturing division focused in oilfield tubular products, and 2.) Hemiwedge Valve Corporation, a proprietary new valve technology division. The Hemiwedge division commercialized its Hemiwedge(R) Cartridge valve product line targeting oil, gas, process and power markets in early 2007 and is in prototype development of its Hemiwedge(R) sub-sea high pressure valve product line and a Hemiwedge(R) down-hole valve product line which it intends to commercialize via corporate partners. For additional information on the Company and its products, please visit http://www.shumateinc.com and http://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 its debt, difficulties in consolidating the operations of the Company's operating subsidiaries, 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 industry, restrictive covenants in our existing credit facilities, fluctuations in metals prices, 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 July 23, 2008 and the Company undertakes no duty to update this information.
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