Press Releases
Northern Technologies International Corporation Announces Phase 2 Contract for ZERUST(R) FlangeSaver(TM) With Petrobras
Petrobras, the world's 6th largest oil producing company in terms of volume, currently owns and operates 109 off-shore rigs. Prior to awarding contracts to NTIC's Brazilian subsidiary, Petrobras conducted extensive multi-year product field trials against competitive alternatives. This new contract is a result of the fulfillment of the Phase 1 contract awarded by Petrobras to NTIC's Brazilian subsidiary in
"We are very pleased that our ZERUST® FlangeSaver™ corrosion protection products continue to prove their value to Petrobras by helping to reduce operating, environmental and maintenance costs by significantly extending the operational integrity and safety of certain equipment on their off-shore rigs," said
FlangeSaver technology as well as other Zerust® Oil & Gas corrosion solutions are based on NTIC patented and/or proprietary technologies and are intended to significantly extend the service life of oil and gas industry infrastructure beyond the capabilities of conventional alternatives. NTIC has a core R&D team dedicated to the Oil & Gas sector based in
The Company consolidates the results of
About
The
Forward-Looking Statements
Statements contained in this press release that are not historical information are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Such statements include NTIC's expectations regarding its future financial performance and other statements that can be identified by words such as "expect," "intend," "continue," "anticipate," "estimate," "potential," "will," "would," or words of similar meaning and any other statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of NTIC's management and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied. Such potential risks and uncertainties include, but are not limited to, in no particular order: NTIC's dependence on the success of its joint
ventures and fees and dividend distributions that NTIC receives from them; NTIC's relationships with its joint ventures and its ability to maintain those relationships; risks associated with NTIC's international operations; exposure to fluctuations in foreign currency exchange rates; the health of the U.S. and worldwide economies, including in particular the U.S. automotive industry; the level of growth in NTIC's markets; NTIC's investments in research and development efforts; acceptance of existing and new products; increased competition; the costs and effects of complying with changes in tax, fiscal, government and other regulatory policies, including rules relating to environmental, health and safety matters; and NTIC's reliance on its intellectual property rights and the absence of infringement of the intellectual property rights of others. More detailed information on these and
additional factors which could affect NTIC's operating and financial results is described in the company's filings with the
CONTACT: Investor and Media Contacts:Source:Matthew Wolsfeld , CFO NTIC (763) 225-6600
News Provided by Acquire Media