CONROE, Texas, November 10, 2008 – PRNewswire Shumate Industries (OTC Bulletin Board: SHMT News) announced today that its Hemiwedge Valve Corporation (HVC) division has appointed Coombes Equipment of Odessa, Texas, as its sales representative for Hemiwedge® Cartridge valve in West Texas and parts of North Texas. Established in 1969, Coombes Equipment is a leader in the supply of critical service equipment in challenging applications within oil and gas production, process and pipeline industries in the region.
Mr. Kevin Coombes, Owner of Coombes Equipment said, "We are very excited about the opportunities with the Hemiwedge® valve design and what the technology brings to Coombes Equipment. The Hemiwedge® Cartridge valve solves two big problems for our customers, repeatable reliable sealing, through the patented wedge design passing high pressure and low pressure tests with a seat that is never exposed to direct product flow, and, simple repair, through the patented cartridge feature where all the valve’s internal parts are affixed to the bonnet allowing rapid maintenance or repair in the field requiring no special tools. These features combined with their metal seated design create a new, robust solution for our customers that produce and process oil and gas. "
The Hemiwedge® Cartridge valve is an innovative design that incorporates the positive features of ball, gate, plug and high performance valves resulting in a mechanically sealing, tight shutoff valve with a simple operation that provides outstanding longevity and performance in a broad range of applications with minimal maintenance. The proprietary Cartridge technology encases all the internals of the valve within the Cartridge and allows inline replacements, significantly reducing downtime and supply disruption, especially in higher maintenance service applications containing entrained solids such as line scale, sand, and debris.
The Company’s current product line is two inch size through twelve inch (with larger custom sizes) and pressure classes from ANSI 150 through 1500 class and API 6D monogrammed applications. Multiply trim internal packages are available and metaltometal seals for severe service applications are available with timely deliveries.
Kevin Vincent, HVC’s Director of Sales said, "We are very pleased that Coombes Equipment has agreed to represent HVC in these geographic areas. Doug Lee, the Products Sales Manager for the Hemiwedge® Cartridge valve, and their organization bring a great deal of experience to our sales efforts with specific knowledge of the oil and gas processing industries that demand this type of valve. The natural gas midstream companies are especially having issues with difficult applications involving entrained solids that frequently erode seats and higher temperature installations that require repetitive repairs." Mr. Vincent continued to note, "HVC’s sales strategy for the Hemiwedge® Cartridge valve product line is to source territoryleading manufacturer representative firms that fit a specific profile including having extensive experience in sales of highly engineered products that focus on solving difficult applications. HVC plans on leveraging these established sales and marketing companies, like Coombes Equipment, to expand the end users and applications for the Hemiwedge® Cartridge valve in its target markets.
About Shumate Industries, Inc.
Shumate is a publiclytraded holding company that operates as a global supplier of engineered valve products through its Hemiwedge Valve Corporation ("HVC") subsidiary. In its 60,000 square foot ISO 9001 and API Q1 approved facility in Conroe, Texas, the Company manufactures and markets worldwide a patented proprietary new valve technology known as the Hemiwedge® Cartridge valve product line. The Hemiwedge® Cartridge valve is an innovative design that incorporates the positive features of ball, gate, plug and high performance valves resulting in a mechanically sealing, tight shutoff valve with a simple operation that provides outstanding longevity and performance in a broad range of applications with virtually no maintenance. HVC’s Hemiwedge® Cartridge valve product line currently ranges in sizes from two inch to twelve inch, and custom sizes to twenty inches, ANSI class 150 through 1500 and API 6D applications such as refining, mining, process, pipeline, midstream and petrochemical markets. For additional information on the Company and its products, please visit www.hemiwedge.com.
Forward-Looking Statements
This document contains discussion of items that may constitute forwardlooking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forwardlooking 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 or restructuring its debt, 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 and process industries, restrictive covenants in our existing credit facilities, fluctuations in metals prices, political and economic global supply chain risk, 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 November 10, 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.