Company UpdateDecember 19, 2019
Announces Year-End Capital ExpenditureJanuary 7, 2020
New Division Sets First Year Sales Target of $4 million
Houston, TX, Jan. 15, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Movement Industries Corporation (OTC PINK: MVNT) (the “Company”) announced today the creation of its new South Texas Sales Division set to officially open January 20, 2020. The new sales division will be responsible for sales of chemical injection pumps, valves, and other products that the Company currently sells as well as new products currently in development. The division will also be the first to offer the Company’s flow control monitoring solution to its customers.
The South Texas Sales Division will cover the entire region from San Antonio south and west to the Mexican border. The new division has a $4 million revenue target for 2020 and is expected to begin generating positive cash flow in only its second month of operations. The Company plans to penetrate other regions, including West Texas, organically and is also looking for potential acquisitions to expedite growth in these areas.
The Company has already hired a regional sales leader with extensive experience and contacts in the region who will be responsible for building out the team of qualified sales and service representatives to develop its presence in the region. The Company is currently in the process of acquiring trucks and trailers to support the division’s operations and plans to open a supply shop in the region to house inventory and provide maintenance, repair, and general field services to customers in the area.
About Movement Industries Corporation
The Company invests in emerging growth companies in energy, oil & gas, renewables and industrial manufacturing sectors. The Company's executive management team brings over 50 years of experience in the global energy market. The Company’s growth strategy includes deepening products and services offered to existing customers as well as acquiring complementary business units.
The Company’s vision is to create prosperity locally and growth globally in every community around the world by empowering individuals and industry to advanced humanity through innovation.
Stay up to date by following the Company at twitter.com/mvmntin or subscribe to updates at our website at https://mvmnt.in
About Hi-Alloy Valve
Hi-Alloy Valve is a leading supplier of valves across multiple industries with the primary focus on wellhead (API 6A upstream) and pipeline (API 6D midstream) valves for the oil and gas industry. Hi-Alloy is a certified ISO 9001:2015 and API Q1 company that provides the global energy market with an extensive product line and exceptional service.
For more information about Hi-Alloy Valve visit www.hialloyvalve.com
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Please direct all inquiries to:
MVNT Shareholder / Investor Inquiries
LTN Capital Ventures
Safe Harbor Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief or expectations of the Movement and members of its management team with respect to the Movement’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Movement’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Movement’s website. Movement disclaims any responsibility to update any forward-looking statements.