Profire Energy, Inc. Purchases Warehouse and Office Space in Lindon, Utah in Preparation to Enter the US Markets
LINDON, UT and EDMONTON, AB -- (MARKET WIRE) -- 03/02/10 -- Profire Energy, Inc. (OTCBB: PFIE) announced the purchase of warehouse and office space in Utah in connection with its efforts to expand into U.S. markets. The facility will serve as the U.S.-based headquarters of the Company. The Canadian headquarters will remain in Spruce Grove, Alberta, just outside of Edmonton.
Brenton W. Hatch, CEO of Profire, noted, "We believe that establishing a formal presence in the U.S. is critical to our efforts to deliver the same reliable services and products we deliver in Canada to the many oil and gas producers and distributors in the energy rich regions of the United States."
"Although we have not actively marketed in the United States, we do receive frequent orders for systems and our products have been well received," stated COO, Harold Albert. He continued, "We are now looking to proactively cater directly to the needs of U.S.-based producers. The new facility will provide a convenient way to serve this market segment."
The new facility will be configured for inventory storage and for assembly of products and systems to be sold and shipped throughout the U.S. The Company believes this will ensure a reliable source of off-the-shelf product supply and result in faster lead times and decreased shipping costs, thereby enhancing service to its customers at a better value.
The new facility, which will be located at 321 South 1250 West, #3 in Lindon, Utah, will also serve as the corporate offices of several Company executives.
Profire Energy manufactures, installs and services oilfield burner management systems and related combustion products. Its products aid oil and natural gas producers in the safe, efficient, development and transportation of carbon-based fuels. Profire's current lead product is the Profire 1100, which is a control unit that provides reliable management of the combustion system 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.
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. Forward-looking statements involve risks and uncertainties, including but not limited to, risks described in the Company's periodic reports on file with the Securities and Exchange Commission.
Contact: For inquiries please contact Andrew Limpert CFO (780) 690-5278 E-mail: Email Contact
Released March 2, 2010