$VSHC NEWS
Movement Industries Corporation’s (OTC: VSHC) Wholly Owned Subsidiary, Hi-Alloy Valve, Passes Site Audit by Major International Energy Supplier
September 18, 2019 08:30 ET | Source: Movement Industries Corp.
Potential New Revenues Could Exceed $10 Million Per Year
HOUSTON, TX, Sept. 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Movement Industries Corporation (OTC PINK: VSHC) announced today that its wholly owned subsidiary, Hi-Alloy Valve (“Hi-Alloy”), has successfully passed a site audit by a major international electricity and natural gas delivery company with operations in the northeast United States. Hi-Alloy has shipped several valves to the potential customer for extensive operational testing and is now in the final stages of the approval process.
Mr. Luis Beita, CEO of Hi-Alloy Valve, stated: “This particular customer has one of the most rigorous approval processes in the industry and is one of the most difficult approved manufacturer lists to qualify for. We are very fortunate to have this opportunity. Once we are approved as a vendor, it will help expedite the approval process for other major energy suppliers.”
Hi-Alloy’s policy is to fully test every single valve it manufactures before shipping, so it fully expects to be approved. This customer purchases over $20 million in ball valves every year and is also evaluating Hi-Alloy for gate valves and plug valves. Once testing is complete and Hi-Alloy receives final approval as a vendor, it expects to receive orders soon afterwards with revenues from this one customer eventually growing to over $10 million per year.
Movement Industries is continuing to work with FINRA to complete its name and symbol change as well as the closing of additional acquisitions, all of which the company hopes to achieve in the near future. Don’t forget to follow Movement Industries on Twitter @mvmntin for more updates as they become available.
About Movement Industries Corporation, formerly Visual Healthcare Corp.
Movement Industries Corporation (“Movement”), formerly Visual Healthcare Corp., invests in emerging growth companies in energy, oil & gas, renewables and industrial manufacturing sectors. Movement's executive management team brings over 50 years of experience in the global energy market. Movement’s growth strategy includes deepening products and services offered to existing customers as well as acquiring complementary business units.
Movement’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 Movement Industries 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.
Movement Industries Corporation’s (OTC: VSHC) Wholly Owned Subsidiary, Hi-Alloy Valve, Passes Site Audit by Major International Energy Supplier
September 18, 2019 08:30 ET | Source: Movement Industries Corp.
Potential New Revenues Could Exceed $10 Million Per Year
HOUSTON, TX, Sept. 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Movement Industries Corporation (OTC PINK: VSHC) announced today that its wholly owned subsidiary, Hi-Alloy Valve (“Hi-Alloy”), has successfully passed a site audit by a major international electricity and natural gas delivery company with operations in the northeast United States. Hi-Alloy has shipped several valves to the potential customer for extensive operational testing and is now in the final stages of the approval process.
Mr. Luis Beita, CEO of Hi-Alloy Valve, stated: “This particular customer has one of the most rigorous approval processes in the industry and is one of the most difficult approved manufacturer lists to qualify for. We are very fortunate to have this opportunity. Once we are approved as a vendor, it will help expedite the approval process for other major energy suppliers.”
Hi-Alloy’s policy is to fully test every single valve it manufactures before shipping, so it fully expects to be approved. This customer purchases over $20 million in ball valves every year and is also evaluating Hi-Alloy for gate valves and plug valves. Once testing is complete and Hi-Alloy receives final approval as a vendor, it expects to receive orders soon afterwards with revenues from this one customer eventually growing to over $10 million per year.
Movement Industries is continuing to work with FINRA to complete its name and symbol change as well as the closing of additional acquisitions, all of which the company hopes to achieve in the near future. Don’t forget to follow Movement Industries on Twitter @mvmntin for more updates as they become available.
About Movement Industries Corporation, formerly Visual Healthcare Corp.
Movement Industries Corporation (“Movement”), formerly Visual Healthcare Corp., invests in emerging growth companies in energy, oil & gas, renewables and industrial manufacturing sectors. Movement's executive management team brings over 50 years of experience in the global energy market. Movement’s growth strategy includes deepening products and services offered to existing customers as well as acquiring complementary business units.
Movement’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 Movement Industries 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.
