Enerchem & Blend oil form Egyptian Joint Venture Company.NISKU, Alberta--(BUSINESS WIRE)--Dec. 4, 1995--ENERCHEM INTERNATIONAL (TSE See Tokyo Stock Exchange.TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ECH ECH Echelon ECH Echangeur (French: Exchange; Canada Post street designation) ECH Electron Cyclotron Heating ECH Epichlorohydrin ECH Echinacea ECH Emergency Command Hologram (Star Trek) ) Larry B. Phillips, President of Enerchem International Inc., announces today that the company and Blend Oil Services and Supply of Cairo, Egypt have now completed the incorporation of an Egyptian Joint Stock Company in the Alexandria Free Zone, Egypt. The new company, Egyptian Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. Company for Chemical Industries is jointly owned by Enerchem International Inc. and Blend Oil Services and Supply, Cairo Egypt. Larry B. Phillips, President and J. Barrie Brookman, General Manager, Enerchem International Inc. attended the General Assembly meeting of the new company in Alexandria, Egypt on November 22, 1995 at which time the structure of the company was established. A Board of Directors meeting held November 23rd outlined the management structure and business objectives of the company. The Egyptian Canadian Company for Chemical Industries is now qualified to do business in Egypt as authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: by the Arab Republic of Egypt in conformity with the laws presently in force. Sabbour Engineering of Cairo, Egypt have been awarded the engineering contract for the blend plant, warehouse and laboratory which will be constructed on the 1.074 ha. of land that the new company has secured in the Alexandria Free Zone. Tenders for the buildings and process equipment will be sent out in the near future and construction of the buildings will commence early in the new year. The majority of the process equipment will be designed and built in Canada and shipped to Alexandria for installation. It is estimated that the plant should be fully functional by late 1996. Enerchem International Inc. will be providing base materials for manufacturing the oil and gas production chemicals that will be sold in Egypt and other countries in the Middle East. Technical support will be provided by Enerchem through a technology transfer agreement. Enerchem International Inc. is engaged in the formulation formulation /for·mu·la·tion/ (for?mu-la´shun) the act or product of formulating. American Law Institute Formulation , manufacturing and marketing of a wide range of oil and gas production chemicals including demulsifiers, corrosion, scale and paraffin paraffin, white, more-or-less translucent, odorless, tasteless, waxy solid. It melts between 47°C; and 65°C; and is insoluble in water but soluble in ether, benzene, and certain esters. inhibitors, biocides, paraffin/asphaltene solvents, water clarifiers and stimulation chemicals. The company operates a research laboratory along with blending, warehouse and office facilities in Nisku, Alberta Nisku is a hamlet in Leduc County, Alberta, Canada. Located at the intersection of Queen Elizabeth II Highway and Highway 19, between Edmonton and Leduc, east of the Edmonton International Airport, it is an important service center for the Edmonton area. , Canada and at their subsidiary Enerchem International Corporation in Midland, Texas Midland is the county seat of Midland CountyGR6 located on the Southern Plains of the western area of the U.S. State of Texas. As of the 2006 U.S. Census estimate, the city had a total population of 102,073. . Enerchem is committed to solving oil and gas production problems through diagnosis, treatment and strong field service. Enerchem International Inc. has been advised that this is the first Egyptian/Canadian partnership ever established in the oil and gas industry in Egypt. The location of the plant in Alexandria gives Enerchem exposure to the vast Middle East markets where oilfield related chemical sales exceed 300 million dollars per year. -0- Larry B. Phillips President THE TORONTO STOCK EXCHANGE Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. CONTACT: Phillip Shragge, (403) 421-9247 or Ken Klein, (403) 955-3388 (403) 955-2064 (FAX) |
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