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FSI

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Share Name Share Symbol Market Type
TSXV:FSI TSX Venture Common Stock
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FSI Awarded Brine Plant Contract- Second Significant Sale for 2012

14/09/2012 1:27am

Marketwired Canada


Richard Ball, Chief Executive Officer of FSI Energy Group Inc. (TSX VENTURE:FSI)
("FSI"), is pleased to announce that FSI has been awarded the contract for the
manufacture, delivery and installation of a Brine Blending Plant valued at
approximately $3 million USD. The contract is for a new client in Kazakhstan,
and, upon completion, will be the twenty-fourth plant manufactured and installed
by FSI.


In its decision in awarding the tender, the Client cited the design and high
quality of FSI's products after on-site visits in West Siberia to inspect two
existing operational plants. Production is scheduled for the fall of 2012, with
delivery scheduled for first week in December and installation and commissioning
expected in March of 2013.


To date, FSI has designed, built, and installed twenty-one Brine Blending
Plants, accounting for over $61.45 million in revenue, and FSI is considered by
most in the Russian oil industry to be the leader in this patented turn-key
fluid-processing technology for Russian oil producers. This is the company's
first sale of such a plant in Kazakhstan, and the company is very excited about
the opportunities for further growth in this market. FSI continues its
aggressive marketing in western Siberia.


About FSI

Through its wholly-owned subsidiary, FSI International Services Ltd., FSI Energy
Group Inc. is a Calgary-based manufacturing and service company specializing in
customized oil and gas filtration, water treatment technologies and Brine Plants
for the energy, chemical and oil and gas industries.


In an effort to enrich our management team, FSI Energy Group Inc. also wishes to
announce the recent hiring of Mr. Shawn Smashnuk in the position of Project
Manager. Shawn will directly assist Mr. Perry Ball, Vice President - Operations,
on both domestic and international projects.


Forward-looking Information Cautionary Statement

This press release contains forward-looking statements relating to the expected
dates for production, delivery installation and commissioning of the Brine
Blending Plant. All statements contained herein that are not clearly historical
in nature are forward-looking, and words such as "could", "plans", "should",
"anticipates", "expect", "believe", "will", and similar expressions and
statements relating to matters that are not historical facts are generally
intended to identify such forward-looking statements.


The forward-looking statements in this press release are based on the opinions
and estimates of management and management's prior experience designing,
building and installing twenty-one Brine Blend Plants. Such forward-looking
statements are subject to a variety of risks, uncertainties and other factors
that could cause actual events or results to differ materially from those
anticipated in the forward-looking statements including, but not limited to.


All of the forward-looking information contained in this press release is
qualified by this cautionary statement. There can be no assurance that the
actual results or developments anticipated by FSI, as expressed or implied by
the forward-looking information, will be realized or, even if substantially
realized, that they will have the expected consequences to or effects on FSI or
its business operations. FSI disclaims any intention or obligation to update or
revise any forward-looking information as a result of new information or future
events. Readers should not place undue reliance on forward-looking information.


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