Profire Energy Announces Distribution Agreement With Combustion Company in Australia
Company Adds Third International Distributor: Australian Distributor Prior Industries Australia PTY LTD
LINDON, Utah, Feb. 20, 2014 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (OTCBB:PFIE), a technology company which manufactures, installs and services burner management systems and other combustion technologies for the oil and gas industry, today announced that it has signed a distribution agreement with an Australian distributor, Prior Industries Australia PTY LTD, a process engineering company specializing in industrial combustion. The agreement allows for Prior's distribution of Profire's products to its extensive distribution contacts in Australia.
"Our agreement with Prior represents our third distributor with international reach, and we look forward to seeing what they will do with our products in this new market," said Cameron Tidball, VP of Global Sales at Profire. "They have extensive oil and gas connections that we believe could be valuable to the Company, and we look forward to working with them as we extend our international reach to Australia."
According to the U.S. Energy Information Administration, the gas production in Australia has risen from 1,159 billion cubic feet/year in 2000, to 1,900 billion cubic feet/year in 2012—an increase of over 60%--with continued growth expected in the coming years. In the past decade, the country has become a leading gas exporter in the Asia-Pacific region.
To learn more about Profire Energy or its products, please contact Profire Energy, or visit www.ProfireEnergy.com.
About Profire Energy, Inc.
Profire Energy assists energy production companies in the safe and efficient transportation, refinement and production of oil and natural gas. As energy companies seek greater safety for their employees, compliance with more stringent EPA standards and enhanced margins with their energy production processes, Profire Energy's burner management systems are increasingly becoming part of their solution. To learn more about the company's products and services, please visit www.ProfireEnergy.com. Profire Energy has offices in Lindon, Utah; Houston, Texas; Oklahoma City, Oklahoma; and Edmonton, Alberta, Canada.
Cautionary Note Regarding Forward-Looking Statements. Statements made in this release that are not historical are forward-looking statements. This release contains forward-looking statements, including, but not limited to statements regarding the extent of Prior's distribution contacts; the efficacy of Profire's distributors with international reach; the belief that Prior's distribution contacts could be valuable to the Company; expectations regarding what Prior will do with Profire's products in the Australian market; production-levels of gas in Australia, as well as anticipated or implied trends therein; and the anticipated start of marketing efforts for the relationship. All such forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include certain economic, business, public market and regulatory risks and factors identified in the company's periodic reports filed with the Securities Exchange Commission. All forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances, except as required by law. Readers should not place undue reliance on these forward-looking statements.
CONTACT: Profire Energy, Inc. Andrew Limpert, CFO (801) 796-5127 Profire Energy, Inc. Nathan McBride, Finance & Communications (801) 796-5127 RedChip Companies, Inc. Brendan Hopkins 1-800-RED-CHIP (733-2447), ext. 134
Released February 20, 2014