Shumate Industries to Present at Friedland Investment Events' Undervalued Equities 2006 Conference in Boca Raton.CONROE, Texas
See OTC Bulletin Board (OTCBB). :SHMT), a Texas-based energy field services company, announced today that it has been invited to present at this year's Friedland Investment Events' Undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. Equities 2006 conference. The conference will be held at the Holiday Inn Hotel & Suites in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. on March 7, 2006. Matthew Flemming, CFO See Chief Financial Officer. of Shumate Industries, remarked, "Shumate's presentation at the Undervalued Equities Conference in Boca Raton Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. will expose more of the financial community to our business and products, specifically the proprietary Hemiwedge(R) valve technology, a product line that addresses energy flow control applications. The presentation will address the advantages and economic benefit of our products in the oil, gas and energy industries. Shumate Industries looks forward to discuss our Company's business and plans for the future." About Shumate Industries, Inc. Shumate Industries, Inc. is a Texas based, energy field services company that incorporates new technologies to bring products to market leveraging its existing infrastructure, expertise and customer channels. The Company operates through two wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. : 1.) Shumate Machine Works, a contract machining and manufacturing division, and 2.) Hemiwedge(R) Valve Corporation Valve Corporation is an American video game developer based in Bellevue, Washington, USA, made famous by its first product, Half-Life, which was released in November 1998. , a new division formed to launch a proprietary new technology in a valve product line targeting energy flow control applications. The diverse line of products Shumate Machine Works manufactures for its customers includes expandable tubular launchers and liner hangers for oil & gas field service applications, blow-out preventers, top drive assemblies, directional drilling products, natural gas measurement equipment, control & check valves and sub-sea control equipment used in energy field service. The Company's proprietary Hemiwedge(R) valve product line includes quarter-turn metal seated valves with bore sizes ranging from two inch in diameter through eight inch with custom sizes up to twenty-four inches, ANSI (American National Standards Institute, New York, www.ansi.org) A membership organization founded in 1918 that coordinates the development of U.S. voluntary national standards in both the private and public sectors. It is the U.S. member body to ISO and IEC. and API certifications and multiple pressure classes, substantially reduced torque, reducing actuation costs, and top-entry cartridge loaded replacement internal parts that are self-contained substantially reducing field operations time and maintenance costs. Today, the Company's customers include Baker Hughes, BJ Services Company BJ Services Company (NYSE: BJS) is a Fortune 500 oil and gas equipment and services company with its headquarters located in Houston, Texas. It was founded in 1872 as the Byron Jackson Company by inventor Byron Jackson. , Canrig Drilling Technology, a Nabors Industries company, FMC Technologies, Halliburton Energy Services, National Oil Well (NOW), Oceaneering Intervention Engineering, R&M Energy Systems, Shell Development, Smith International, Texas Oil Tools, a NOW company, Tesco Services and Weatherford International. Shumate Industries employs approximately 45 people between its 25,000 square foot manufacturing plant and 60,000 square foot valve plant, both located in Conroe, Texas, north of Houston. The Company's executive offices are located at 12060 FM 3083, Conroe, Texas 77301. The Company's telephone number is 936-539-9533 and its Internet address is www.shumateinc.com. About Friedland Investment Events Friedland Investment Events LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is the world's largest sponsor of financial and investment events, sponsoring hundreds of events annually, in 18 US cities and 3 European cities. These events include all-day conferences, breakfasts, luncheons and cocktail receptions. Friedland Investment Events LLC, is an affiliate of Friedland Corporate Investor Services LLC and Friedland Capital Inc. (www.friedlandworldwide.com). Forward-Looking Statements This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, customer concentration risk, debt service requirements, difficulties in consolidating the operations of the Company's operating subsidiaries, difficulties in accelerating internal sales growth, volatility of the energy business and its effects on the Company's business, difficulties in new technology acceptance within the energy industry, restrictive covenants Restrictive covenants Provisions that place constraints on the operations of borrowers, such as restrictions on working capital, fixed assets, future borrowing, and payment of dividends. in our existing credit facilities, fluctuations in metals prices, general economic conditions in markets in which we do business, extensive environmental and workplace regulation by federal and state agencies and other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements. Additional information on Shumate Industries, Inc. is available at http://www.herdonthestreet.com. |
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