ILI TECHNOLOGIES RECEIVES US$ 9.5 MILLION ORDER
2007-03-30 16:44 ET - News Release
Mr. Serge Bonnet reports
ILI TECHNOLOGIES RECEIVES US$ 9.5 MILLION ORDER
ILI Technologies (2002) Corp. has received a $9.5-million (U.S.) ($11-million (Canadian)) order for its Thermoflex tubing and associated connectors, and its ESP pump products. This is by far the largest order ever received by ILI and marks the entry into a much larger revenue base for the company.
The first delivery under this contract is scheduled in the second quarter of 2007, to a large Mexican corporation. ILI will use the next few months to produce the product necessary to deliver on this initial purchase order, as well as to build up inventory of Thermoflex tubing for subsequent instalments of the contract throughout 2007 and 2008.
"This is a significant order for our organization, and changes the dynamics of our sales, rentals and distribution activities," stated Serge Bonnet, president of ILI Technologies. "We will strive to deliver on this contract as quickly as possible while continuing to pursue additional significant orders for Thermoflex tubing, and CBM pumps and wire products."
While ILI had dramatically higher corporate sales with the commencement of sales of Thermoflex tubing last summer, the company has only established regular sales channels in Mexico, and continues to pursue additional distribution in the United States and Canada. Thus the sales potential of Thermoflex tubing remains relatively untapped. ILI is also planning the expansion of manufacturing facilities for Thermoflex tubing in order to accommodate expected future orders.
Thermoflex tubing is used primarily in Mexico to replace old flow lines which are in need of replacement or repair, as well as by companies looking for longer-lasting and more efficient methods of flow lining new wells. The product has been proven to be quick and easy to install, and can withstand pressure and corrosion better than standard piping methods
And they are hosting a conference this weekend,takl about all the media attention they will get :)
Oh did i forget to mention IT´S IN US$
Great weekend guys.
IzY
