Furnace Piping Being Monitored as Part of Efficient Production Practice
TSX Venture Exchange symbol: FOX
TORONTO, Oct. 7 /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
two PinPoint Monitoring Systems in a major petrochemical company located in
Sean Carr, Interim President & CFO of FOX-TEK said, "This is a very
exciting achievement for our company. This installation required the welded
version of our PinPoint system to operate at 850 degrees C. Currently we are
not aware of anyone else offering internal corrosion systems that are capable
of operating at these temperatures. With this sale, we have opened a new
industrial sector - petrochemical plants. These plants are particularly
demanding and have similar needs to that of refineries."
The FOX-TEK project manager noted "Work was very demanding in terms of
the timing, the complexity of the PinPoint welded pins, and the timely
successful certification of our two systems by the Canadian Standards
Association. Our PinPoint system had to be proven to operate at 850 degrees C
prior to installation. During operation, the monitored pipes glow cherry red
as PinPoint systems monitor for internal corrosion."
The Project Manager added "These two PinPoint systems will provide hourly
data that will be used by plant engineers to adjust chemical settings as part
of production. The systems are designed to pay for themselves many times over,
in terms of efficient operations and equipment longevity."
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: 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,