SOURCE: ILI Technologies (2002) Corp.

April 02, 2007 12:46 ET

ILI Technologies Receives US$9.5 Million Order

CALGARY, AB -- (MARKET WIRE) -- April 2, 2007 -- ILI Technologies (2002) Corp. (TSX-V: ILI) is very pleased to announce the receipt of a US$9.5 million (Cdn. $11 million) order for their Thermoflex® Tubing and associated connectors and their ESP pump products. This is by far the largest order ever received by ILI and marks the entry into a much larger revenue base for the company.

The first delivery under this contract is scheduled in the second quarter of 2007 to a large Mexican corporation. ILI will use the next few months to produce the product necessary to deliver on this initial purchase order as well as to build up inventory of Thermoflex® Tubing for subsequent installments of the contract throughout 2007 and 2008.

"This is a significant order for our organization and changes the dynamics of our sales, rentals, and distribution activities," stated Serge Bonnet, President of ILI Technologies. "We will strive to deliver on this contract as quickly as possible while continuing to pursue additional significant orders for Thermoflex® Tubing and CBM Pumps and wire products."

While ILI has announced dramatically higher corporate sales with the commencement of sales of Thermoflex® Tubing last summer, the company has only established regular sales channels in Mexico and continues to pursue additional distribution in the US and Canada. Thus the sales potential of Thermoflex® Tubing remains relatively untapped. ILI is also planning the expansion of manufacturing facilities for Thermoflex® Tubing in order to accommodate expected future orders.

Thermoflex® Tubing is used primarily in Mexico to replace old flowlines which are in need of replacement or repair as well as by companies looking for longer-lasting and more efficient methods of flowlining new wells. The product has been proven to be quick and easy to install and can withstand pressure and corrosion better than standard piping methods.

ILI Technologies (2002) Corp. is a high technology company, whose principal business is to develop, manufacture and market oil and gas industry Information Technology (IT) and Operational solutions that improve business performance. ILI's business development efforts have shown excellent results, with the addition of a number of new customers from our CBM Pumps and Services Inc. acquisition and the addition of new sales, management and service teams in our offices in Alberta, Texas and Wyoming. ILI Technologies (2002) Corp. is also in the process of developing other new product lines to add to its suite of existing products.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information, please contact:
    Serge Bonnet
    ILI Technologies (2002) Corp.
    Phone: (403) 543-0060
    Fax: (403) 543-0069
    E-mail: Email Contact