31.03.2011 14:00:00
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Profile Technologies Awarded Contract for Six Permanent EMW-C™ Inspection Systems
Profile Technologies, Inc. (OTC: PRTK, the "Company” or "Profile”), the developer of proprietary long range electromagnetic pipeline corrosion inspection technologies, reports that the Company has been awarded a contract for the sale and installation of six permanent EMW-C™ Inspection Systems for cased pipeline crossings for a utility company in the western United States. The work is scheduled to begin in mid-May and will include the inspection of the pipeline crossings using EMW-C™ permanent connectors for wax fill monitoring.
Our EMW-C™ Inspection System allows pipeline inspection in cased pipeline crossings to identify changes or areas of concern to help operators to evaluate pipeline integrity. Wax may be used inside casings to provide additional corrosion protection. With the use of the EMW-C™ permanent connectors, pipeline operators can monitor the conditions inside the casing including the status of the wax protective wax fill.
This contract award follows from a series of recent requests for quotation from various pipeline companies for our services. The Company anticipates further growth and future contracts for more permanent EMW-C™ Inspection Systems to follow.
About Profile:
Profile Technologies, Inc. is headquartered in Manhasset, NY with an Operations and Research facility in Albuquerque, NM. We are the developer and owner of proprietary, patented technologies that utilize electromagnetic waves to detect and characterize corrosion and other anomalies on cased, insulated and other pipelines. Its technologies provide long-range, non-invasive and non-destructive inspection. For more information about Profile, visit the website at www.profiletech.net.
Cautionary Statement:
The foregoing release contains certain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and the regulations thereunder. Company statements that are not historical facts, including statements about the Company's expectations, beliefs and plans are examples of such forward-looking statements and involve various risks and uncertainties including equipment, technology, contract and other risks. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions; government regulations; the ability of our management to successfully implement our business plan and strategy; our ability to successfully implement our business plan and strategy during a management transition period; our ability to fund our operations including the cost and availability of capital and credit; our ability to compete effectively including our ability to maintain and increase our market share in the markets in which we do business; and our ability to successfully develop and commercialize our products. For a more complete discussion of the risks that could affect the Company's business and finances and cause actual results to differ materially from management's expectations, plans, etc., please refer to the Company's SEC filings.
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