Marmion Industries Announces Strategic Initiatives
HOUSTON, Oct. 11 /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 strategic initiatives for the next 6-12 months and summarized recent achievements.
Commenting on the company's recent performance and future initiatives, CEO W.H. Marmion stated, 'Marmion Industries has made significant advancements over the past few months that better position the company to tap into the vast pool of opportunity that lies within both the commercial and industrial segments of the global HVAC industry. Our ability to attract high profile industrial clients including Lucite International and the application of our technology by leaders in the petrochemical space such as ConocoPhillips validates the quality of our offering and is attracting new business like never before.'
Mr. Marmion further commented, 'In just over one month, we have announced future and completed contracts valued in excess of $5,000,000. For a company that logged just over $4.6 million for all of fiscal year 2006, we feel that recent revenue growth is a major achievement and a very positive indication of the upward direction that our business is traveling in.'
Marmion concluded, 'In order to sustain recent growth and meet record demand for our offering; the company has recently made the decision to upgrade our manufacturing facility. We expect current levels of demand to remain relatively constant for the foreseeable future as we improve the depth and quality of our customer base and establish a larger footprint in the HVAC industry, both organically and through growth by acquisition. As the company pushes forward with its aggressive near-term growth strategy, we will release relevant information regarding our advancement to shareholders, as it becomes publicly available.'
Key Achievements Include:
-- Announcing more than $5,000,000 worth of completed and future contracts
over the past five weeks.
-- Second quarter and first half industrial sales which reached $691,000
and $1,700,000 respectively, up from $433,000 and $868,000 during 2006.
Recent product shipments for use in a ConocoPhillips project.
-- Recent completion of a project for Lucite International, the world's
leading producer of acrylic monomers and owner of the popular Lucite(R)
and Perspex(R) brands.
-- Two year ongoing purchasing agreement with a repeat industrial
customer, Powell Industries of Houston, Texas valued at more than
$2,000,000.
-- Purchase of 2.75 acres of land in Houston, Texas, along with its plan
to construct a new approximate 30,000 square foot multi-use facility.
-- Growth of commercial business which is exemplified by a recent
$2,100,000 contract for HVAC-related equipment and installation
services at Sweeney High School (Sweeney -- TX).
-- Becoming one of the first mechanical contractors to implement the new
Leadership in Energy and Environmental Design 'LEED' Certification of
Quality Program.
Strategic Initiatives for 2007 include:
-- Capitalize on existing sales opportunities through the implementation
of a more aggressive sales/marketing strategy, deployment of additional
sales/marketing personnel, and ramping up overall production levels.
-- Streamline operations through an externally conducted business process
audit immediately followed by implementation of company-wide efficiency
mandates.
-- Improve the depth and breadth of our customer base and product/service
offering.
-- Expand OEM/Private Label design and production capabilities.
-- Bundle our products with ancillary products to enhance revenue
opportunities and increase the total installed base of Marmion
Industries products.
-- Expand current product line by adding new and innovative designs and
potentially acquiring synergistic offerings.
-- Expand our international footprint to capitalize on industry growth,
particularly within the petrochemical arena.
-- Continue to expand our brand awareness through the implementation of
more aggressive internal sales and marketing efforts as well as by
forging relationships with well respected industry associations and
periodicals.
-- Dedicate significant time and effort towards the in-depth due-diligence
associated with identifying a strategic acquisition(s) that would both
significantly accelerate our top line growth as well as add accretively
to earnings.
-- Continue to pursue business relationships with well-entrenched local,
regional, domestic, and international industry players.
-- Form an advisory board with relevant industry expertise and
relationships.
About Marmion Industries Corporation
Marmion Air Service specializes in Explosion-Proof Heating, Ventilation, Cooling Pressurization and chemical filtration solutions for mission-critical applications. Our reputation is based on superior equipment and service, from south Texas and Louisiana refineries to drilling rigs and chemical plants in Saudi Arabia and South America. Our products are designed for application in Petro-Chemical, Industrial, Agricultural, wastewater, pulp and paper, elect., medicine, and Aerospace. Marmion Air Service commenced operation in Texas in 1998 in residential and commercial HVAC service. The Texas Department of Licensing and Regulation -- TACLA019367C -- recognizes the company as a contractor in the field of Heat Ventilation and Air Conditioning. The company is in the process of working towards third party certifications on selected manufactured equipment.
Further information on Marmion Industries is available at: http://www.marmionair.com and http://www.microstockprofit.com
Forward Looking Statements
The information in this news release includes certain forward-looking statements that are based upon management's expectations and assumptions about certain risks and uncertainties that can affect future events. Although management believes these assumptions and expectations to be reasonable on the date of this news release, these risks and uncertainties may cause actual events to differ material from those contained in this news release. The risks and uncertainties include, but are not limited to, continuing as a going concern, availability and cost of our present vendors and suppliers, and absence of any change in government regulations or other costs associated with data transmission over the Internet or termination of transmissions in foreign countries.
Contact:
Seacoast Advisors
IR@seacoastadvisors.com
(888) 945-2110
SOURCE Marmion Industries Corporation
Source: PR Newswire (October 11, 2007 - 5:00 AM EST)
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