TSX Venture Exchange symbol: FOX
TORONTO, Sept. 4 /CNW Telbec/ - Fiber Optic Systems Technology, Inc.
("FOX-TEK"), (TSX-V: FOX), a developer and manufacturer of patented
non-intrusive sensing systems, today announced the sale and installation of
its FT Pipeline Bending Monitoring System at eleven sites on two separate
pipelines to a major North American Gas Transmission company in British
Sean Carr, Interim President & CFO of FOX-TEK said, "We are pleased to
have received this repeat order, and look forward to continue developing our
relationship with this particular client."
A customer spokesperson added "We continue to be both satisfied and
impressed with FOX-TEK's FT fiber optic technology for monitoring pipeline
bending under geotechnical loading. The FT technology replaces the subjective
component of geotechnical risk assessment with hard data. Continuous
improvements to the sensor installation techniques make for simple
installations in any pipeline environment. We intend to continue to utilize
this technology at locations of moderate and high geotechnical risk to our
pipeline infrastructure. As a component of our pipeline integrity management
plan, the FT sensors contribute to improved public safety.
Fiber Optic Systems Technology, Inc. "FOX-TEK" develops non-intrusive
asset health monitoring sensor systems for the oil and gas market to help
operators track the thinning of pipelines and refinery vessels due to
corrosion/erosion, strain due to bending/buckling, and process pressure and
temperature. FOX-TEK's FT fiber optic sensor and Pinpoint systems allow
cost-effective, 24/7 remote monitoring capabilities to improve scheduled
maintenance operations, avoid unnecessary shutdowns, and prevent accidents and
FOX-TEK has offices in Toronto, ON; Calgary, AB; Houston, TX; and
Al-Khobar, Saudi Arabia. FOX-TEK is traded on the TSX Venture Exchange under
the symbol "FOX". For more information, visit www.fox-tek.com.
This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements
are detailed from time to time in FOX-TEK's periodic reports filed with the
Ontario Securities Commission and other regulatory authorities. FOX-TEK has no
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: FOX-TEK Company contact: Sean Carr, Interim
President and CFO, Fiber Optic Systems Technology, Inc., (416) 665-2288,
firstname.lastname@example.org; Investor Relations contact: Renmark Financial
Communications Inc.: Barry Mire, email@example.com; Christine
Stewart, firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717,