International Fuel Technology Inc.
International Fuel Technology: COMPANY PRESS RELEASE
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International Fuel Technology Signs Distribution Agreement With Petrochem
To Serve Middle East Market
Monday January 10, 2005, 9:00 AM Eastern Time
ST. LOUIS – 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 Technogy’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
DiesolIFT(TM), 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 m 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.
(http://www.petrocheme.com.)
Some statements contained in this release may be forward-looking within the
meaning of the safe harbor clause of the Private Securities Litigation Reform
Act of 1995 including, but not limited to, statements as to commercialization
of the company’s products and business development activities.
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, the company’s ability
to generate revenues and other factors as described in the Company’s
literature and filings with the Securities and Exchange Commission.
Investor Contact:
Stuart Beath
Director of Corporate Development
International Fuel Technology, Inc.
(314) 727-3333×417
sbeath@internationalfuel.com
http://www.internationalfuel.com
Media Contact:
David Rosen
Walek & Associates
(212) 889-4113
david@walek.com
end of message, (c)DGAP 10.01.2005
WKN: 925543; ISIN: US45953X2080; Index:
Listed: Freiverkehr in Berlin-Bremen; Nasdaq
101533 Jän 05
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