Marmion Industries Announces New Two Year Purchasing Agreement from Repeat Industrial Customer Valued at Just Under 2 Million Dollars - PR Newswire
New Agreement Adds to Already Rapidly Increasing Sales Revenues HOUSTON, Sept. 20 /PRNewswire-FirstCall/ -- Marmion Industries Corp (OTC Bulletin Board: MMIO), (the 'Company') -- an emerging manufacturer and modifier of heating, ventilation, and air conditioning (HVAC) equipment -- today announced a two year ongoing purchasing agreement with a repeat industrial customer, Powell Industries of Houston, Texas.
The purchasing agreement, valued at approximately $2,000,000.00 over a two year period is for products used in an industrial specialized environment where Marmion's highly esteemed HVAC design capabilities and expertise are of great value. The company indicated the initial equipment units specified under the purchasing agreement are already in production in the factory and Marmion Industries will continue to build and ship additional orders under this agreement for the next two years.
CEO W.H. Marmion stated, 'I think it is a powerful statement that our larger customers continue to re-establish large ongoing purchasing agreements with us. I believe this proves we are flexible and focused upon their needs and are continually providing an environment in which we can both grow and prosper. This is the third purchasing agreement they have signed with us in the last four years. Marmion Industries will continue to strive to supply our customers with both products and service that is a cut above the competition.'
Marmion's hazardous location wall mounted air conditioners have recently been awarded third party approval through Intertek Testing Services. The designation, which Marmion is in the process of obtaining for additional industrial products, facilitates the company's ability to directly target increasingly larger customers within the global petrochemical industry. This is expected to play a key role in Marmion's future expansion into the highly lucrative space.
In a testament to the enormous growth potential in this key target market, the International Energy Agency estimates that the total investment required in the oil and gas sectors over 2005 to 2030 will amount to more than $8 trillion. The recent progress made by Marmion Industries Corporation in the industrial segment of the HVAC industry is exhibited by both second quarter and first half industrial sales which reach $691,000 and $1,700,000 respectively, up from $433,000 and $868,000 during 2006
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