Bri-Steel Establishes New Benchmark in Large Seamless Pipe Manufacturing in North America
June 21 2013 - 10:28AM
Marketwired Canada
Bri-Chem Corp. ("Bri-Chem") (TSX:BRY), a leading North American wholesale
distributor and manufacturer of oil and gas drilling fluids and steel pipe
announces that Bri-Steel Manufacturing, the company's Thermal Pipe Expansion
(TPE) division, has successfully produced 36 inch diameter seamless carbon steel
pipe which is the largest seamless steel pipe manufactured to date in North
America. Bri-Chem previously announced that it successfully produced 30 inch
seamless pipe however today establishes a new benchmark with the completion of
the first 36 inch seamless pipe. In addition, the 36 inch pipe manufactured was
a standard wall thickness which is generally the most difficult to produce
utilizing the TPE manufacturing process and as a result we can now focus on
producing heavier wall thickness 36 inch steel pipes and expand into 32 and 34
inch pipe diameters as well.
"The successful production of the 36 inch seamless pipe solidifies our position
as the next generation of pioneers for large diameter steel pipe manufacturing"
commented Don Caron, Chief Executive Officer of Bri-Chem, "This now opens the
door to create more options and opportunities for Bri-Chem as we continually
achieve new levels of production."
About Bri-Chem
Since our formation in 1985, Bri-Chem has established two primary segments of
business through a combination of internal growth and acquisitions: Bri-Chem's
Drilling Fluid Division is North America's largest independent wholesale
supplier of drilling fluids for the oil and gas industry. We provide over 100
drilling fluid products, cementing, acidizing and stimulation additives from 29
strategically located warehouses throughout Canada and the United States;
Bri-Chem's Steel Pipe Division is the first company to introduce and construct a
Thermal Pipe Expansion (TPE) facility in North America for manufacturing,
testing and supply of large diameter seamless steel pipe for the energy
industry. Additional information about Bri-Chem is available at www.sedar.com or
at Bri-Chem's website at www.brichem.com.
Forward Looking Statements
Certain information set forth in this news release contains forward-looking
statements or information ("forward-looking statements"), including statements
which may contain words such as "could", "should", "expect", "anticipate",
"believe", "will", and similar expressions and statements relating to matters
that are not historical facts are forward looking statements. By their nature,
forward-looking statements are subject to numerous risks and uncertainties, some
of which are beyond the Company's control, including the impact of general
economic conditions, industry conditions, volatility of commodity prices,
currency fluctuations, environmental risks, demand for oilfield services for
drilling and completion of oil and natural gas wells; volatility in market
prices for steel, oil, natural gas, and natural gas liquids and the effect of
this volatility on the demand for oilfield services generally, competition from
other industry participants, the lack of availability of qualified personnel or
management, stock market volatility and the ability to access sufficient capital
from internal and external sources. Although the Company believes that the
expectations in our forward-looking statements are reasonable, our
forward-looking statements have been based on factors and assumptions concerning
future events which may prove to be inaccurate. Those factors and assumptions
are based upon currently available information. Such statements are subject to
known and unknown risks, uncertainties and other factors that could influence
actual results or events and cause actual results or events to differ materially
from those stated, anticipated or implied in the forward looking information. As
such, readers are cautioned not to place undue reliance on the forward looking
information, as no assurance can be provided as to future results, levels of
activity or achievements. The risks, uncertainties, material assumptions and
other factors that could affect actual results are discussed in our Annual
Information Form and other documents available at www.sedar.com. Furthermore,
the forward-looking statements contained in this document are made as of the
date of this document and, except as required by applicable law, the Company
does not undertake any obligation to publicly update or to revise any of the
included forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements contained in this
document are expressly qualified by this cautionary statement.
To receive Bri-Chem news updates send your email to ir@brichem.com.
Neither the TSX nor its Regulation Services Provider (as that term is defined in
the policies of the TSX) accepts responsibility for the adequacy or accuracy of
this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bri-Chem Corp.
Jason Theiss
CFO
(780) 577-0595
jtheiss@brichem.com
CHF Investor Relations
Juliet Heading
Account Manager
(416) 868-1079 x239
juliet@chfir.com
CHF Investor Relations
Cathy Hume
CEO
(416) 868-1079 x231
cathy@chfir.com
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