Hemiwedge Industries (fka HWEG)

[citizenchin]

Revenues increase approximately 190% for the fiscal year ending December 31, 2010 vs same period in 2009

Marketing and Operations Update

CONROE, Texas, Feb. 3, 2011 /PRNewswire/ -- Hemiwedge Industries, Inc. (Pink Sheets:HWEG.pk - News), a global supplier of engineered valves focused in the oil/gas production, refining, mining, process, pipeline, power, mid-stream and petro-chemical markets, issued the following marketing and operations update today of the Company's progress. Since the Company's update release in September 2010, the Company has acquired three new customers domestically and internationally and continued to grow operations.

Revenues for the Fourth Quarter and fiscal year ending December 31, 2010

Unaudited revenues for the fourth quarter ending December 31, 2010 were approximately $388,400 or an increase of 16%, as compared to the fourth quarter 2009. Unaudited revenues for the fiscal year ending December 31, 2010 were approximately $2.92 million, or an increase of about 190%, compared to the same period in 2009 of $1 million. Recent feedback from customers and partners indicate that in 2011 and 2012 the Company should see more larger size capital projects getting launched in the industries in which we focus. Currently management believes our sales growth and market acceptance will continue next year and beyond.

"While our revenue targets earlier in the year were at a range above $3 million in sales, we encountered some shipment delays resulting in some revenues shifting into the first quarter of 2011. We are pleased that the market acceptance of Hemiwedge® Cartridge valve has continued particularly in our target areas of oil/gas production, mining, process and power markets," stated Ken Chickering, CEO.

New Customers and New Applications for Hemiwedge® Cartridge valve.

The Company's patented Hemiwedge® Cartridge valve product line continued to grow in the fourth quarter of 2010 with new customers in lime slurry mining applications, heavy oil, products pipeline storage applications and re-orders in gas compressor applications.

Public filing status

The Company filed a termination of registration of its common stock under Section 12(g)-4(a)(2) of the Securities Exchange Act of 1934. However, the Company is still required to file reports with the Securities and Exchange Commission under Section 15(d) of the Securities Exchange Act of 1934 and the Company intends to continue its efforts to become current with its reporting obligations thereunder. The Company's common stock remains quoted on the Pink Sheets under the symbol "HWEG.PK"

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