Valve Technology Company Adds New Advisory Director From Energy Sector

CONROE, Texas, April 6 /PRNewswire-FirstCall/ -- Hemiwedge Industries, Inc. (Pink Sheets: HWEG), a global supplier of engineered valves, today announced the appointment of Rodney W. Eads to its Advisory Board of Directors.  

Mr. Rodney W. Eads has over 35 years of experience in upstream energy business.  The majority of his career has been with Exxon, serving 20 years in engineering and operations management primarily focused on drilling and completions of oil and gas wells.  For the past 13 years he has served as an executive officer of two public mid-cap companies. Mr. Eads served as Senior Vice President of Worldwide Operations for 10 years at Diamond Offshore Drilling Inc., and more recently, as Executive Vice President and Chief Operating Officer of Pride International, Inc. for 3 years, with both positions included P&L and HSE responsibility for global operations.  During his career, Mr. Eads has managed operations in 27 countries and had responsibility for global workforces as large as 14,000 employees.

Mr. Eads received his B.S. in Chemical Engineering from West Virginia Institute of Technology, and his M.B.A. from Rice University.  He has served as an Adjunct Professor at Rice for the last 9 years teaching courses in Upstream Energy.

Ken Chickering, CEO of Hemiwedge Industries, stated, "Throughout his career, Rodney has been an active member in the SPE, IADC, and API, serving 10 years on the API's Executive Committee for Drilling and Production, which approves many of the industry's standards and recommended practices.  He has served on the Executive Committee of the Board of IADC, and in 2008 he served as Chairman of the IADC/ SPE Drilling Conference, the industry's premier worldwide conference for drilling and completions technology. His experience will greatly assist in Hemiwedge's rapid growth in our target markets. We are honored to have Rodney join our firm in this capacity."

Mr. Eads stated "I am very pleased to be associated with Hemiwedge Industries.  The product is truly a step-change in valve technology and has proven itself in the field in severe service applications including the oil and gas market.  The management and engineering team are seasoned valve industry experts and have proven they can deliver highly engineered products at the highest quality.  The product has very broad applications and the company is now poised for rapid growth."

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. 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 April 6, 2010 and the Company undertakes no duty to update this information.

SOURCE Hemiwedge Industries, Inc.

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