Hemiwedge Industries Announces $230 Thousand Order From Black Gold Rental Tools, Inc.

CONROE, Texas, Aug. 25 /PRNewswire-FirstCall/ -- Hemiwedge Industries, Inc. (Pink Sheets: HWEG), a global supplier of specialty engineered valves, today announced it has received an order for $230 thousand for its Hemiwedge® Cartridge valves from Black Gold Rental Tools, Inc. of Texas.

Black Gold Rental Tools is a leading provider of rental services for the onshore drilling market in the United States and has been a repeat customer of Hemiwedge since 2008.

The purchase order was issued to Hemiwedge Valve Corp (HVC), the operating subsidiary of Hemiwedge Industries that sells the patented valve product line. The purchase order is for six inch bore sizes valves for use in mud-diverter applications, which is a difficult service for valves where legacy valve products can fail pre-maturely.  Deliveries are scheduled to occur during the third quarter of 2010.

Ken Chickering, CEO of Hemiwedge Industries, stated, "Black Gold is an excellent company with a great reputation in the marketplace. Their customers include some of the major drilling contractors. They like the Hemiwedge® Cartridge valves' ability to handle the challenging application of drilling mud, lasts longer than the traditional ball valves used, and the ease of maintenance during repairs.  No special field technicians are needed during maintenance and the Cartridge feature can be replaced in-line in less than an hour."

About Hemiwedge Industries, Inc.

Hemiwedge Valve Corporation ("HVC"), a wholly-owned subsidiary of Hemiwedge Industries, operates as a global supplier of engineered valve products. 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 valve technology known as the Hemiwedge® Cartridge valve product line. The Hemiwedge® Cartridge valve is a proven innovative design that incorporates a hemispherical wedge to provide a mechanically sealing, tight shutoff valve with a simple quarter-turn operation that provides outstanding longevity and performance in a broad range of applications.  Unlike ball valves, the stationary core of the Hemiwedge® Cartridge valve directs flow away from the seat surfaces which allows longer service life. The "Cartridge" feature reduces expensive downtime during valve maintenance as all of the internal parts of the valve are attached to the bonnet, as a Cartridge, which allows a quick exchange of all the internals of the valve while the valve body remains in the line. This feature is especially relevant in weld-in line valve bodies and severe service applications.  Hemiwedge® Cartridge valve has been successfully used by reference customers in applications including refining, mining, process, pipeline, power, mid-stream and petro-chemical markets.  The product line currently ranges in bore sizes from one inch to twenty inches, API 6D monogram, and ANSI class 150 through 900. Custom sizes also available. For additional information on the Company and its products, 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, an inability to perform customer contracts at anticipated cost levels, 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 August 25, 2010 and the Company undertakes no duty to update this information.

SOURCE Hemiwedge Industries, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED