Profire Energy Inc. Announces the Purchase of Additional Office/Warehouse Space in Spruce Grove, Alberta, Canada
LINDON, UT and EDMONTON, AB -- (MARKET WIRE) -- 05/25/11 -- Profire Energy, Inc. (OTCBB: PFIE) announced today that it has purchased additional space in Spruce Grove, Alberta, Canada. The Company feels there are many opportunities for additional growth in western Canada as energy development efforts accelerate for many oil and gas producers. Further, there continue to be increasing legislative mandates for added safety and emission controls for energy producers from the provincial governments that Profire's products directly address.
The new space is adjacent to the Company's current offices in Spruce Grove and will be used primarily for inventory storage and assembly of components used in the Company's 1100 & 2100 burner management systems, as well as other products being introduced later this year. There is no debt or mortgage associated with the purchase.
"There continues to be many growth areas in western Canada that are attractive to our business model. The purchase of approximately 8,000 square feet of additional space shows our commitment to, and ongoing investment in the fundamental operations of Profire," stated Company CFO Andrew Limpert.
Profire Energy manufactures, installs and services oilfield combustion management systems and related burner products. Its products aid oil and natural gas producers in the safe and efficient development and transportation of carbon-based fuels. Profire's lead products are the Profire 2100 and the Profire 1100, which are burner management systems that provide reliable management and ignition of combustion burners and associated vessels that oil and gas producers rely on.
To learn more about Profire's products and services, please take a moment to view the Company's website at www.profireenergy.com. Profire has offices in Lindon, Utah and Edmonton, Alberta, Canada.
The information contained in this release includes forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. Certain statements contained herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied, including but not limited to, risks described in the Company's periodic reports on file with the Securities and Exchange Commission.
For inquiries please contact: Kurt Jackson Relationship manager (801) 796-5127 E-mail: Email Contact
Source: Profire Energy Inc.
Released May 25, 2011