Flotek Industries, Inc. (OTC BB: FLTK) has been awarded a contract in the Material Translogistics Division ("MTI") for the design, engineering and project management of the construction of a cement blending bulk plant in Villahermosa, Mexico. The automated cement handling and loading facility will utilize MTI's advanced pneumatic and vacuum handling system technology. This technology delivers precision dry blending while reducing handling time and overall waste. MTI will provide the cement handling equipment and act as project manager of the construction and installation, to be completed in three months.
In addition, Flotek's specialty chemical division and Flotek's drilling products division, Turbeco, Inc., are in negotiations to supply the specialty chemical cement additives and casing centralization equipment for the project.
Furthermore, MTI is negotiating with this major Mexican oil drilling company to design, engineer and project manage a second automated cement handling plant.
Flotek is a publicly traded company involved in the manufacturing and marketing of innovative specialty chemicals, downhole drilling and production equipment, and management of automated bulk material handling, loading and blending facilities. It serves major and independent companies in the domestic and international oilfield service industry.
Statements made in this press release, including those relating to the positive direction of the Company, increased revenue base, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause results to differ materially from those set forth in these statements. Other factors identified in the Company's filings with the Securities and Exchange Commission could also affect the forward-looking statements contained in this press release.