Energy & Technology, Corp., PKA Technical Industries Revenues Increase Due to Wall & OD 3D Pipe Mapping Proprietary Technology
LAFAYETTE, LA--(Marketwire -04/11/12)- Energy & Technology, Corp., pka Technical Industries & Energy, Corp. ("Energy & Technology" or the "Company") (OTC.BB: ENGT.OB - News) is pleased to announce sales have increased and continue to improve since drilling permits restarted in the Gulf of Mexico. The industry is seeing rising offshore rig usage in the Gulf of Mexico (GOM) nearly two years after the Macondo oil spill, and anticipates a continued recovery in the deepwater Gulf of Mexico with strong demand for deep water critical technologies. The Company attributes the increase mainly to the patented wall and outside diameter mapping VisonArray 3D pipe imaging technology. This technology is needed for deep and offshore wells. The year ending 2011 10K financial report showed significant improvements compared to 2010. Sales continued to sharply increase in the first quarter of 2012 and are expected to rise for the rest of the year.
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About Energy & Technology, Corp.
As the holding company of Technical Industries, Inc., Energy Pipe, LLC, and Energy Technology MFG & Threading LLC, Energy & Technology, Corp. (OTC.BB: ENGT.OB - News) is a technology and essential commodities provider including main source for rig, integrated systems, down hole tools, OCTG, linepipe, drillpipe, drilling tools and supply chain solutions. ENGT provides a comprehensive drilling system for parts, down hole tools, engineering, non-destructive testing, storage, maintenance and other products, and services. To learn more about ENGT visit: www.engt.com.
SAFE HARBOR STATEMENT
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Investors are urged to read the Annual Report on Form 10-K for the year ended December 31, 2009 and other documents filed by ENGT with the SEC.
For additional information, contact Chris Johnson, ph. - 337-984-2000