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GRIFCO (GFCI) is a supplier for the OIL and GAS industry. They have had good news of late, and expectations are that they will issue ANOTHER release early next week! Watch how the MMs are bringing it down last couple of days to scoop up cheap shares! Don't be fooled by these dips...we are likely to see strong movement on the news. I advise an entry anywhere below 1.20 - then have a nice ride up.
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I'm in on latest dip @ 1.00 and already up a bit. Waitin' for the news-release supposedly to come. We'll see - it could move this lil' honey, as float is so small.
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recovered well from Fridays' dip! Back to 1.20 area, and looks WELL-POSITIONED for run now that weak hands were shaken last few days. Expecting strong movement with news, said to be IMMINENT .
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Low 1 Million FLOAT - could see strong movement today: SEE BELOW!
Grifco International Increases Production Output; Preps for Reporting Status HOUSTON, TX -- (MARKET WIRE) -- 01/13/2005 -- Grifco International, Inc. (OTC: GFCI), a provider of oil and gas services equipment to the worldwide oil and gas industry, is in the process of increasing the manufacturing output of its Louisiana production facility via the purchase of machinery equipment, highlighted by the recent delivery of dual CNC lathe machines.
The CNC lathe machines allow Grifco International to better service its clientele by completing orders more quickly and with minimal outsourcing. The CNC Turning Center and CNC Mill are state-of-the-art, easily programmed and maintained, and allow Grifco to be highly competitive with its price quotes and delivery schedule. Grifco International anticipates the addition of the machinery equipment will increase production at the facility 500%.
"The CNC lathe machines deliver a drastic improvement in our ability to meet production days as quoted," said Wendell Taylor, Manufacturing Supervisor for Grifco International. "The new CNC turning center will enable Grifco to increase our tool inventory while completing new orders for our customers. The CNC machines will decrease our average production time by four- to five-fold."
In addition to the new equipment, Grifco International is presently working with its accounting staff to compile and audit financial statements in anticipation of becoming an SEC fully reporting company. Grifco International believes this process will be completed in the next 3-4 months.
Grifco International Inc. is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the U.S., China, Mexico and South America. Grifco's patented products are known and used throughout the world. In addition to our patented tools, Grifco designs and manufactures over 350 products for the Oil and Gas industry with a clientele boasting the biggest names in the business, including Halliburton, Exxon, and Schlumberger. Please visit www.grifco.org.
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Grifco International Acquires KO-VAC Systems HOUSTON, TX -- (MARKET WIRE) -- 01/18/2005 -- Grifco International, Inc. (OTC: GFCI), a provider of oil and gas services equipment to the worldwide oil and gas industry, has acquired KO-VAC Systems.
KO-VAC Systems markets a vacuum-based disposal unit with electrical and diesel systems for fluid and/or solid clean up. KO-VAC is skid mounted and easily transported to any location, no matter how remote. Units may be transported separately or with the components necessary to conduct multiple operations.
"KO-VAC's environmental clean-up solution allows us to quickly deploy into a new market segment with a comprehensive solution while fitting nicely in our catalog of over 350 products," stated Jim Dial, President and CEO of Grifco International, Inc. "KO-VAC was a low six-figure acquisition, and will pay for itself many times over. We anticipate the KO-VAC to be worth $2 million per year after twelve months, and generate $4-5 million in the first 2 years.
"We've had several pricing and deployment inquiries about the units already, with units already designated to ship next week to Mexico for Halliburton; the KO-VAC Systems will be assigned to the Campo Iride, Campo Samaria and Campo Jujo fields," added Dial.
KO-VAC has a history of providing first-class service and equipment both onshore and offshore to the oil industry in support of environmental clean-ups as far away as India. The purchase awards Grifco International, Inc. the ability to manufacture all size units for sale worldwide while Grifco develops plans for several innovations and upgrades to the units. Every major oil company is a potential customer and business relationships with the KO-VAC units will be pursued. All environmental services will be contacted and made aware of Grifco International, Inc. and the availability and applications of the KO-VAC services and equipment.
KO-VAC has a significant equipment inventory, with spare parts sufficient to last for a minimum of two years. Grifco International, Inc. will supply service and support to the equipment and supervise installation and rig-up.
Grifco International, Inc. is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the U.S., China, Mexico and South America. Grifco's patented products are known and used throughout the world. In addition to our patented tools, Grifco designs and manufactures over 350 products for the Oil and Gas industry with a clientele boasting the biggest names in the business, including Halliburton, Exxon, and Schlumberger. Please visit www.grifco.org
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