Hemiwedge(R) Cartridge Valve Selects Brock Easley as Sales Rep
[2008-4-30]
Tag: Wedge Gate Valve
Shumate Industries
(OTC Bulletin Board: SHMT) announced today that its Hemiwedge Valve
Corporation division has appointed Brock Easley LLC of Centennial,
Colorado, as sales representative for Hemiwedge(R) Cartridge Valve in the
Rocky Mountain Region of the United States. Brock Easley LLC is a leader in
the supply and service of critical service valves, instrumentation,
automated valve services, over-pressure protection products, as well as
other process capital equipment. Sales coverage includes Colorado, Nevada,
New Mexico, Arizona, Utah, Montana, North Dakota, South Dakota, Wyoming and
Idaho.
Larry Prentice, President of Brock Easley and Valve Repair Consultants,
said, "Our job is to provide innovative products and services that will
save our customers money. The Hemiwedge(R) Cartridge Valve is unique and is
supported by a very talented engineering staff in Conroe, Texas. Through
our service technicians, we experience on a daily basis, customers with
failed critical service valves. It is great to have a new solution for many
of their challenging applications."
The Hemiwedge(R) Cartridge Valve is a proprietary technology that
targets process and industrial applications such as isolation block valves,
emergency shut-down, CO2 and water injection, and especially critical
shutoff of service fluids with entrained sand and abrasive particulates.
Hemiwedge(R)'s patented hemispherical wedge design offers improved shutoff
performance over legacy engineered ball, gate, and plug valves due to
wedging action during the final seating. 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.
Kevin Vincent, Sales Manager for Hemiwedge Valve Corporation, said, "We
are excited to partner with Brock Easley to bring the Hemiwedge(R)
Cartridge Valve to this geographic market. We were looking for a
technically oriented organization of sales professionals to match our
product to the right applications within the oil, gas, and power
industries. This is exactly what Brock Easley has built its tremendous
reputation and success on -- solving valve application problems." Vincent
further stated, "After a ramping up period, we currently anticipate sales
of the Hemiwedge(R) Cartridge Valve to be several million annually in the
Rocky Mountain region."
Ken Chickering, President of Hemiwedge Valve Corporation, stated,
"Brock Easley's sales organization has an impeccable reputation for
professional services to their clients, and we are pleased to be aligned
with them."
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.
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 March 31, 2008 and the Company undertakes no duty to update this
information.
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