International Fuels News
Monday January 10, 2005, 9:00 AM Eastern Time
International Fuel Technology Signs Distribution Agreement With Petrochem To Serve Middle East Market
ST. LOUIS – (Business Wire) –January 10, 2005 – International Fuel Technology Inc. (OTC BB: IFUE – news), a fuel science and research company, today announced that it has signed a distribution agreement with Petrochem, one of the largest independent petrochemical distributors in the Middle East. Petrochem will distribute International Fuel Technology’s (IFT) additives to industrial bulk users and commercial distributors in various parts of the region. The agreement between Petrochem and IFT includes an initial order of DiesolIFTTM, IFT’s diesel fuel additive, for the Pakistani market.
“Though rich in oil resources, the demand for our additives in the Middle East reflects the universal need to save costs on fuel and decrease harmful emissions,” said Gary Kirk, IFT’s Director of Sales and Marketing. “Given Petrochem’s long-standing relationships with clients in more than 25 countries in the region, we believe this will generate significant revenue opportunities for IFT.”
Yogesh Mehta, Managing Director - Petrochem, said “We have been evaluating IFT’s technology for some time and are excited to partner with the company to bring better performing fuel blends to our retail distribution customers.”
About Petrochem
Petrochem is one of the largest independent petrochemical distributors in the Middle East and a leading wholesale petroleum distributor selling petroleum based fuel products to numerous retail fuel distribution companies. (www.petrocheme.com)
NOTE: Statements contained in this web site that are not strictly historical are forward-looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the Company’s actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, demand for the Company’s product both domestically and abroad, the Company’s ability to continue to develop its market, general economic conditions and other factors that may be more fully described in the Company’s literature and any periodic filing with the Securities and Exchange Commission.
