Profile Technologies Inc. Enters Into First Commercial Agreement for Pipeline Corrosion Testing.NEW YORK--(BUSINESS WIRE)--March 20, 1998--PROFILE TECHNOLOGIES, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Nasdaq: PRTK), Profile Technologies, Inc., announced today that it has entered into its first commercial agreement to provide its patented and proprietary corrosion inspection and evaluation services to ASCG ASCG Automatic Solution Crystal Growth ASCG Ammunition Supply Coordinating Group ASCG Arctic Slope Consulting Group, Inc. (architecture/engineering firm; Anchorage, AK) Inspection Inc., an Alaska based pipeline inspection company. The agreement provides for the inspection of approximately 100 road and caribou Caribou, town, United States Caribou (kâr`ĭb  ), town (1990 pop. 9,415), Aroostook co., NE Maine, on the Aroostook River; inc. 1859. crossings on British Petroleum pipelines on the North Slope North Slope, Alaska: see Alaska North Slope. of Alaska. The inspection program will begin about July 1, 1998 unless weather conditions permit earlier inspection. Profile Technologies' services, developed for use by the oil, natural gas, chemical and utilities industries, focus on the non-invasive Non-invasive A procedure that does not penetrate the body. Mentioned in: Multiple-Gated Acquisition Scan non-invasive 1. not penetrating the skin, e.g. a non-invasive test. 2. and non-destructive inspection and evaluation of the condition and integrity of above and below grade pipelines. The company was founded in 1986 and became a publicly held company in February of 1997. Commenting on the agreement, Chief Executive Officer G.L. Scott said: "This agreement represents our first commercial undertaking and is the culmination of many years of research and development that were necessary to bring our technology to the point of commercial acceptance. Road and caribou crossings are particularly difficult for the North Slope producers to inspect for corrosion because of the difficulty of access. We believe that the selection of our technology to perform this task represents a recognition of what our technology brings to the table in terms of corrosion identification and control." "We are looking forward to expanding our presence on the North Slope and believe that this agreement represents an auspicious aus·pi·cious adj. 1. Attended by favorable circumstances; propitious: an auspicious time to ask for a raise in salary. See Synonyms at favorable. 2. Marked by success; prosperous. first step," Scott added. CONTACT: Debra Savishinsky 516/365-1909, Fax 516/365-6491 |
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