New ETF Book by Larry Connors - Click here to read more
TSX Venture Exchange symbol: FOX
TORONTO, April 3 /CNW Telbec/ - Fiber Optic Systems Technology, Inc. ("FOX- TEK"), (TSX-V: FOX), a developer and manufacturer of patented non-intrusive sensing systems, today announced the sale of a welded PinPoint Internal Corrosion Monitoring System to a global integrated oil and gas client. The recently installed system is monitoring the integrity of a high pressure oil pipeline section which showed multiple internal corrosion pits during a prior routine in-line inspection. This order adds to one of the several PinPoint installations done by FOX-TEK in the Alberta region.
Sam Cauchi, Director of Sales for North America said, "Our client tells us that this FOX-TEK PinPoint system plays an important role in allowing them to operate this pipeline section at maximum capacity while ensuring the safety of the public at the same time. The client required a quick turnaround from order to installation and FOX-TEK delivered by completing all the work within two weeks of receiving "go-ahead" from the client. The locations are in high risk areas, and the pipeline regulators required a reliable integrity management plan be in place during operations. As an added benefit, our client will have 24/7 access to the status of their pipeline securely over the internet, thanks to our new DMAT Web online data display".
FOX-TEK also announced that Sean Carr was formally appointed the President & CFO of FOX-TEK by the Board of Directors.
About FOX-TEK:
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. FOX-TEK's FT fiber optic sensor and PinPoint systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.
FOX-TEK has offices in Toronto, ON; and Calgary, AB; FOX-TEK is traded on the TSX Venture Exchange under the symbol "FOX". For more information, visit www.fox-tek.com.
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 FOX-TEK's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. FOX-TEK has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
SOURCE: Fiber Optic Systems Technology, Inc. (FOX-TEK)
FOX-TEK Company: Sean Carr, President and CFO, Fiber Optic Systems Technology, Inc., (416) 665-2288, scarr@fox-tek.com; Investor Relations: Renmark Financial Communications Inc: Barry Mire, bmire@renmarkfinancial.com; Jason Roy, jroy@renmarkfinancial.com; Montreal: (514) 939-3989, Fax: (514) 939-3717; Toronto: (416) 644-2020, Fax: (416) 644-2021; www.renmarkfinancial.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
