Thursday March 6, 11:45 am ET
CONROE, Texas--(BUSINESS WIRE)--Shumate Industries (OTCBB:SHMT - News) announced today that the Hemiwedge® Cartridge Valve developed, manufactured and marketed by its Hemiwedge Valve Corporation (HVC) division has been featured in the “Innovations” section of the March 2008 edition of Hydrocarbon Processing® magazine, which has a global circulation of about 70,000 readers.
The article introduces the Hemiwedge® Cartridge Valve and elaborates on its positive experience in a challenging shutoff application at a salt dome storage facility in Houston, Texas. The article addresses the benefits of the Hemiwedge® design over legacy ball, gate, and plug valves.
The Hemiwedge® Cartridge Valve uses a tapered hemispherical closure member (hemi) that rotates around a fixed core and wedges into a fixed seat to affect a seal. The constant, fixed position of the core within the body provides protection of the seating surfaces when the valve is opened and minimizes turbulence as the valve is opened or closed. The valve’s defining feature - its cartridge design - allows all internal parts to be affixed to the bonnet and removed by simply unbolting the bonnet fasteners. This allows quick and easy serviceability, reducing downtime for maintenance.
Hydrocarbon Processing® magazine, a publication of Gulf Publishing Company, is the premier magazine providing professionally-oriented information to technical and management personnel in petroleum refining, gas processing, petrochemical, chemical and engineer/constructor companies throughout the world. See more at www.hydrocarbonprocessing.com.
Reprints of the article are available upon request from Hemiwedge Valve Corporation, at 936-539-5770.
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 March 06, 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.