Oil Drilling Supply: Hemiwedge Receives $230,000 Order
August 26, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Hemiwedge Industries, Inc. (OTC: HWEG), a supplier of specialty engineered valves, said it has received an order for $230,000 for its Hemiwedge Cartridge valves from Black Gold Rental Tools, Inc. of Texas. Black Gold Rental Tools is a provider of rental services for the onshore drilling market in the United States and has been a customer of Hemiwedge since 2008.
According to Hemiwedge, the purchase order was issued to its Hemiwedge Valve subsidiary, which 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.
Texas-based Hemiwedge Valve manufactures and markets a proprietary valve technology known as the Hemiwedge Cartridge valve product line. The Hemiwedge Cartridge valve is a design that incorporates a hemispherical wedge in an effort to provide a mechanically sealing, tight shutoff valve with a simple quarter-turn operation used in a range of applications.
The company serves customers in applications including refining, mining, process, pipeline, power, mid-stream and petro-chemical markets.
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