Profire Energy to Begin Distributing BelGAS Products
Profire to Begin Selling BelGAS Regulators, Pressure Gauges, and Other Products in Eight States in the Western US
LINDON, Utah, Jan. 17, 2013 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (OTCBB:PFIE), which manufacturers, installs and services burner management systems and other combustion management technologies for the oil and gas industry, today announced that it will begin distributing BelGAS products in eight states, including: Utah, Idaho, Nevada, Colorado, Wyoming, Montana, North Dakota, and South Dakota. Profire will distribute BelGAS regulators, pressure gauges, thermometers, thermowells, diaphragms, and other BelGAS products within these states.
BelGAS is a division of Marsh Bellofram Group of Companies, which has distribution channels throughout the world, and has provided proven products to the oil and gas sectors for over 40 years:
"Our agreement with BelGAS allows us to reduce costs on many products we supply, and still deliver high-quality products to our customers," said Andrew Limpert, chief financial officer of Profire.
This recent addition of BelGAS products to Profire's sales mix is part of Profire's expansion efforts to new geographic markets:
"As we continue our geographic expansion, the use of synergistic relationships is integral to our long-term strategic plans," said Justin Hatch, VP Business Development at Profire. "By leveraging various distribution relationships throughout the world, we believe we can more efficiently enter new markets and expand our global reach in ways that continue to create stakeholder value."
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 has offices in Lindon, Utah; Houston, Texas; and Edmonton, Alberta, Canada.
The Profire Energy, Inc. logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=13229
Cautionary Note Regarding Forward-Looking Statements. This release contains "forward-looking" statements regarding the potential benefits of our distributorship relationship with BelGAS for our geographic expansion into new markets and our ability to create additional stakeholder value. While we have established a distributor relationship with BelGAS, there is no guarantee that we will be able to leverage that relationship into new markets or to expand our global reach. All 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. 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, Investor Relations (801) 796-5127
Released January 17, 2013