TSX - GAR
NISKU, AB, Oct. 20 /CNW/ - Garneau Inc. (GAR:TSX) introduces its new
Flexible Pressure Pipe, "Reelpipe" developed for Canadian oilfield production
applications for oil emulsion, gas gathering and water disposal.
Garneau "Reelpipe" is a high strength, lightweight, corrosion-resistant,
robust, flexible pressure pipe developed for the petroleum industry. The
product is made from thermoplastic and composite materials, which eliminate
corrosion and reduce weight. This pipe has the structural strength and rugged
characteristics of steel, yet is flexible and produced in continuous lengths.
It can be installed more quickly and easily; provides a lower cost, and a
superior alternative to traditional piping materials.
Most Reliable pipeline system at the lowest installed cost.
Garneau "Reelpipe" provides the lowest installed cost pressure piping
solution, because it can be installed faster and quicker with less equipment
and manpower, especially where conditions are difficult.
Garneau "Reelpipe" is internally and externally corrosion-resistant with
thick HDPE inner and outer layers. Chemical inhibitor programs are eliminated.
Flow properties and abrasion resistance are superior to steel pipe. Plant and
Equipment trials are expected to commence fourth quarter 2008, with product
availability ready for first quarter of 2009. "Reelpipe" will be manufactured
out of the Camrose Facility, in addition to Garneau's existing Pipe Coating
Glen Garneau, Garneau Inc. CEO, commented, "This new pressure piping
technology continues Garneau's tradition of providing quality
corrosion-resistant piping solutions to the Canadian oil and gas industry for
over 30 years."
For technical or marketing information, please contact:
Don Wolfe, Manager Composite Pipe, email@example.com
About Garneau Inc.
Garneau Inc's primary business is the application of high performance
protective coating and linings for oil and gas pipeline protection.
Additionally, the Corporation designs and fabricates oilfield equipment for
both domestic and international markets. With over 30 years of operating
experience, Garneau Inc. has developed a significant level of expertise and is
well know for innovative technology. The Corporation's website can be accessed
Certain information in this press release contains forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe",
"would" and similar expressions. These statements involve substantial known
and unknown risks and uncertainties, certain of which are beyond Garneau's
control, including: the impact of general economic conditions; industry
conditions; changes in laws and regulations including the adoption of new
environmental laws and regulations and changes in how they are interpreted and
enforced; fluctuations in commodity prices and foreign exchange and interest
rates; stock market volatility and market valuations; volatility in market
prices for oil and natural gas; liabilities inherent in oil and natural gas
service operations; product demand and market acceptance; the impact of
competitive products and pricing; technological advancements; competition for,
among other things, capital, work orders and skilled personnel; incorrect
assessments of the value of acquisitions; changes in income tax laws or
changes in tax laws and incentive programs relating to the oil and gas
industry; technical and processing problems and other difficulties in
producing products for the petroleum exploration and production industry; and
obtaining required approvals of regulatory authorities. Garneau's actual
results, performance or achievement could differ materially from those
expressed in, or implied by, such forward-looking statements and, accordingly,
no assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur or, if any of them do, what
benefits that Garneau will derive from them. Except as required by law,
Garneau undertakes no obligation to publicly update or revise any
forward-looking statements. For Risk Factors in respect of Garneau, please
refer to our Annual Information Form at www.sedar.com.
For further information:
For further information: Glen Garneau, President and CEO,
firstname.lastname@example.org; Richard Hughes, CFO, email@example.com, Phone:
(780) 955-2396, Fax: (780) 955-7715