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Movement Industries Corp. (OTC: VSHC) Announces Signing of Binding Letter of Intent for the Acquisition of Predominant Pumps
Acquires Patented Gear Design, Innovative IOT Technology & Cloud-Based Monitoring Solution
Houston, TX, Aug. 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Movement Industries Corp. (OTC PINK: VSHC) announced today that the company has signed a Binding Letter of Intent for the acquisition of Predominant Pumps. Mr. Sami Suheil, current CEO of Predominant Pumps, will be joining the Movement Industries management team and will also serve as a member of our strategic direction team. Mr. Suheil, a serial entrepreneur in the energy space, previously founded two companies, vMonitor and Merla Wellhead Services, that were sold within 5 years to U.S. publicly-traded companies in separate transactions.
Mr. Linh Nguyen, CEO, stated, “We believe in advancing humanity and moving the world through innovation. This is another positive step towards fulfilling our mission. Not only do we add a great business with high-growth potential, we are acquiring technologies that can be used across all our products and services. We also gain the expertise of Mr. Suheil, his deep knowledge of the digital oilfield, and his extensive experience in growing strong businesses. We look forward to growing our business together well into the future.”
Mr. Sami Suheil stated, “I’m extremely excited to join the team at Movement Industries. It’s refreshing to see so many talented individuals working together to build an innovative business that can drive real change and I look forward to being an integral part of the team. Their focus on new technologies as an essential component of all their solutions is the perfect strategy for the future growth of the industry.”
Predominant Pumps, based in Houston, Texas, manufactures chemical injection pumps with a patented new gear design that reduces power consumption and increases operating efficiency. This patented new design reduces failure points and its high efficiency allows the pumps to operate solely on solar powered batteries. Each pump is equipped with an on-board IOT chip that allows the pump to communicate directly with a cloud-based monitoring system that remotely monitors and controls the pump’s flow. Monitoring is sold as a monthly service that generates consistent, recurring revenue.
The IOT platform is built on the latest elastic and secure architecture to provide the cornerstone for the evolution of the cloud and data services around the value chain of delivering data-based analytics solutions. It is unique and leading in the chemical injection industry yet generic enough to serve as the foundation for comprehensive digital oilfield growth initiatives.
Chemical injection pumps are used across the supply chain of oil and gas production, processing and transportation. Their applications address a wide range of production challenges for both on- and offshore production of oil wells and gas wells such as foamers, corrosion inhibitors, bactericide, biocides, chemical processing, petroleum refining, and water treatment. They also have many other general industrial applications in various industries.
Predominant Pumps produces the following main lines: Solar DC Pumps, Electrical AC Pumps, Pneumatic Pumps, and Beam Pumps. In addition to the main product line, Predominant Pumps also offers pump systems and injection skids. All products are manufactured and follow an ISO compliant production manual.
Movement Industries is currently working diligently to bring together our initial group of companies that will serve as the core foundation of our vision to empower industries to move the world. In the coming days, we hope to disclose information on two more companies that have signed LOI’s to join us on our mission. These two companies represent the last of our initial set of acquisition targets. We are now evaluating our second group of larger companies to reach our goal of acquiring $100 million in annual revenue. We are also being presented with additional opportunities on a regular basis that are compelling enough to require our attention. Follow us on Twitter @mvmntin for more updates as they become available.
About Movement Industries Corporation, formally Visual Healthcare Corp.
Movement Industries, formally 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. The company’s growth strategy includes deepening products and services offered to existing customers as well as acquiring complementary business units.
Stay up-to-date by following Movement Industries at twitter.com/mvmntinor subscribe to updates at our website at https://mvmnt.in
About Predominant Pumps
Predominant Pumps, based in Houston, Texas, manufactures various pump systems and injection skids for oil and gas production, processing and transportation. Predominant delivers data-based analytics solutions with cutting edge IOT technology.
For more information about Predominant Pumps visit: http://predominantpumps.com/.
VSHC Shareholder/Investor inquiries can be directed to:
LTN Capital Ventures
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