Tuesday April 8, 9:00 am ET
CONROE, Texas, April 8, 2008 /PRNewswire-FirstCall/ -- Shumate Industries (OTC Bulletin Board: SHMT - News) announced today that its Hemiwedge Valve Corporation (HVC) division has been granted API and ISO registration for its quality program and API 6D license for its Hemiwedge® Cartridge Valve line.
Following a recommendation of the APIQR Audit Team, Hemiwedge Valve Corporation was granted registration and API 6D (Pipeline Valves) licensing based on satisfactory implementation of a Quality Management System and demonstrated capability to meet specification requirements. The notification includes API Spec Q1 (Quality Management) and ISO/TS 29001 registration. TS29001 is an ISO sector-specific quality management standard dedicated to the oil and natural gas industry and identical to API Spec Q1, 7th Edition (less Annex A). The notification also includes certification to ISO 9001:2000 Quality Management System Requirements.
"Our success in reaching this major milestone is directly attributed to the strong management support of the entire staff. Each employee must take credit for a job well done and commitment to provide value to our customers," stated Paul Dreiss, Quality Manager for Hemiwedge Valve Corporation.
"The ability to apply the API 6D monogram is a dominate requirement for selling into the pipeline industry segment," according to Stan Allen, Vice-President of Technology and Business Development for Hemiwedge Valve Corporation. "It opens additional doors for sales within process installations such as refineries and petrochemical plants, and even production facilities which often specify API 6D as the applicable standard for on-off valves."
Hemiwedge Valve Corporation was formed to develop and commercialize a new patented technology addressing significant needs in the global valve market. The Hemiwedge® Cartridge valve is a quarter-turn hemispherical wedge valve, engineered to provide substantial performance improvements over existing products in the marketplace today, such as traditional butterfly, ball, and gate valve designs. Product offering currently includes 2 to 10 NPS, in ASME/ANSI Class 150 to 900.
The patented design of the Hemiwedge® Cartridge valve combines the benefits of quarter-turn valves with the durability of gate valves. The product has a non-rotating core which guides the fluid flow through the valve to the Hemiwedge® itself. The hollow hemisphere's inner and outer walls are slightly offset with non-concentric centers, providing a hemispherical wedge shape -- the Hemiwedge®. Operation of the valve rotates the Hemiwedge® a quarter-turn and moves it between the core and valve seat, thus controlling the flow. The design features in the combination of the Hemiwedge® shut off and stationary core make the Hemiwedge® Cartridge valve one of the most innovative new valve designs in the industry today. Targeted applications currently include severe service requiring a tight, mechanical closure and critical shutoff applications requiring high reliability.
About Shumate Industries, Inc.
Shumate Industries, Inc. is a Texas-based energy field services company that incorporates new technologies to bring products to market leveraging its existing infrastructure, expertise and customer channels. The Company operates through two wholly owned subsidiaries: 1.) Shumate Machine Works, a contract machining and manufacturing division focused in oilfield tubular products, and 2.) Hemiwedge Valve Corporation, a proprietary new valve technology division. The Hemiwedge® division commercialized its Hemiwedge® Cartridge valve product line targeting oil, gas, process and power markets in early 2007 and is in prototype development of its Hemiwedge® sub-sea high pressure valve product line and a Hemiwedge® down-hole valve product line which it intends to commercialize via corporate partners. For additional information on the Company and its products, please visit www.shumateinc.com.
Forward-Looking Statements
This document contains discussion of items that may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, customer concentration risk, difficulties in refinancing its debt, difficulties in consolidating the operations of the Company's operating subsidiaries, difficulties in accelerating internal sales growth, volatility of the energy business and its effects on the Company's business, difficulties in new technology acceptance within the energy industry, restrictive covenants in our existing credit facilities, fluctuations in metals prices, general economic conditions in markets in which we do business, extensive environmental and workplace regulation by federal and state agencies and other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission. All information provided in this release and in the attachments is as of April 08, 2008 and the Company undertakes no duty to update this information.
Contact:
North Coast Advisors, Investor Relations for the Company:
Craig Stewart, Principal, at 5852187371, or,
Don Michlin, Principal, at 9362712423
The Company:
Shumate Industries, Inc., Conroe, Texas
Matthew Flemming, CFO 9365395770
Source: Shumate Industries, Inc.