SOURCE: Flotek Industries, Inc.

June 06, 2005 12:13 ET

Flotek Industries Expands International Marketing Program

HOUSTON, TX -- (MARKET WIRE) -- June 6, 2005 -- Petrovalve Inc., a subsidiary of Flotek Industries, Inc. (OTC BB: FLTK), signed an agreement with CE Franklin, Ltd. to act as the exclusive distributor of the Petrovalve production tools within Canada. Petrovalve has received the initial purchase order from CE Franklin, Canada's leading supplier to the Canadian Energy Industry with 37 service centers across Canada.

Further boosting international sales, Spidle Turbeco, within the downhole drilling tools segment, received the first purchase orders associated with a $4 million inquiry from a major South American mining company. Initial orders of $500,000 are being manufactured for immediate shipment.

Chairman and CEO, Jerry D. Dumas, Sr. commented, "International expansion is fundamental to the core growth strategy of the Company. These two developments solidify our presence throughout North and South America."

Flotek is a publicly traded company involved in the manufacturing and marketing of innovative specialty chemicals, downhole drilling and production equipment, and management of automated bulk material handling, loading and blending facilities. It serves major and independent companies in the domestic and international oilfield service industry.

Statements made in this press release, including those relating to the positive direction of the Company, and increased revenue base, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause results to differ materially from those set forth in these statements. Other factors identified in the Company's filings with the Securities and Exchange Commission could also affect the forward-looking statements contained in this press release.

For product information and additional information on the Company, please visit Flotek's web site at http://www.flotekind.com.

Contact Information

  • CONTACT:
    Flotek Industries, Inc.
    Rosalie Melia, Corporate Secretary
    713.849.9911