Augusta Industries Inc.

November 18, 2014 09:00 ET

Augusta Announces Sale of 200 Pin Sensor Array EFM System

TORONTO, ONTARIO--(Marketwired - Nov. 18, 2014) - Augusta Industries Inc. (the "Corporation") (TSX VENTURE:AAO), a developer and marketer of patented non-intrusive sensing systems, is pleased to announce that its wholly-owned subsidiary FOX-TEK Canada Inc. ("Fox-Tek") has received a contract to design, manufacture and install a large electric field mapping system (an "EFM System") to monitor a key asset for one of Canada's largest pipeline companies.

The EFM system, consisting of a 200-pin sensor array, will be used in the monitoring of potential internal wall loss around the girth weld of a 30 inch pipe. This continuous system will wirelessly send its data to Fox-Tek's Chicago based data vault where the data from the site will be analyzed and presented to the client via a secure web portal. Over time, the data will be correlated with other data to understand better the integrity of the monitored location and, more importantly, to validate the existing mitigation program.

"This large 200 pin sensor array EFM System is the second system of its kind supplied to this client for monitoring all or portions of a large girth weld," commented Allen Lone, President and CEO of the Corporation. "A repeat order from one of Canada's foremost pipeline companies, will go a long way to demonstrate the Corporation's long term partnerships. The hard work over the years to foster these relationships is clearly paying off by the number of repeat orders. It is clear that our business will continue to grow as the acceptance of our engineering services continues to be well received within the industry. We look forward to many more projects such as this one."

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. ("Marcon") and FOX-TEK Canada Inc. ("Fox-Tek"), the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon's principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon's major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox-Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation's FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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