PRESS RELEASE: April 26, 2004 - Offshore Flow Elements
Triad Measurement & Equipment, Inc. (Triad) announced today that it has been awarded additional work offshore Qatar from a leading offshore engineering and construction firm. On April 26, 2004, the client confirmed the purchase order with Triad. This is an extension of the relationship that began over three years ago.
"We’re very pleased to receive the purchase order. We are also pleased to continue the partnership that we have established with our client in the offshore business. Triad is working to expand it’s presence in this and other oil and gas markets. Power Generation has long been our primary industry, but Triad’s expansion into other industries continues to go according to plan. This is a welcome addition to our flow element backlog,” said Johnny Linney, President and Chief Executive Officer of Triad.
The facility being constructed will be similar to other wellhead platforms already engineered, constructed and installed by Triad’s client. The first platform was successfully completed and handed over to the customer in January 2004. Shipment on the current order is expected in the 4th quarter of 2004.
Triad is a leading provider of fabricated equipment and flow measurement solutions for offshore field development, power generation and other oil & gas industries. Triad provides engineering and fabrication services to a variety of customers in the energy industry.
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Triad cautions that statements in this press release which are forward-looking and which provide other than historical information, involve risks and uncertainties that may impact Triad’s actual results of operations. The forward-looking statements in this press release include statements concerning the execution and timing related to the completion of this order. Although Triad’s management believes that the expectations reflected in those forward-looking statements are reasonable, Triad can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous uncertainties and risks. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected.
For more information, please contact:
Michael Bibb
VP – Business Development
Triad Measurement & Equipment, Inc.
Houston, TX
(281) 577-5610
Copyright © 2004 Triad Measurement & Equipment, Inc. All Rights Reserved
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