More on StockGuru Profile Stock Grifco International Inc. (OTC: GFCI)
Grifco International Inc. (OTC: GFCI)
Libyan and Mideast Markets are now coming to Fruition for Grifco International, Inc. (OTC: GFCI)
GFCI, is an Oil Service Company, with a footprint in the Middle East and North Africa specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry.
The Company recently received a $1.7 million dollar purchase order from Safwa Environmental Corp. for Grifco’s proprietary skid-mounted vacuum-based liquid waste disposal systems originally developed by KO-VAC Systems, Inc., which was acquired by Grifco in January 2005.
Grifco’s KO-VAC systems are unique, modular vacuum platforms for onshore and offshore environmental impact mitigation by collection of both liquid and solid slurry at well site mud pits, shale shakers, pollution pans and rig floors.
Safwa clients include almost every major oil company across the globe and the company has locations convenient to the majority of industrial centers throughout North Africa. The orders by Safwa are intended to address the increase in oil services companies returning to the Mideast region to take advantage of upward trends in production.
In addition to the initial purchase agreement, Safwa has also awarded Grifco with the option to build multi-size KO-VAC units for sale in Africa and an agreement to jointly develop innovations and upgrades to the skid-mounted systems based upon field engineering.
“With the efforts of Lyamec & Associates LLP, our work in the Libyan and Mideast markets is now coming to fruition,” stated Jim Dial,
President & CEO of Grifco. “We look forward to working with Safwa to continue to develop a market for environmental protection services for the oil industry in the Mideast and Africa.”
http://biz.yahoo.com/iw/060515/0129148.html
GFCI is definitely on our Radar now!
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