Innicor Subsurface Technologies Nears Completion of $35 Million Manufacturing Plant in Alberta

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Innicor Subsurface Technologies Incorporated (Calgary, Alberta), an integrated supplier of quality subsurface equipment to the oil & gas industry, is nearing construction completion for a $35 million perforating systems manufacturing plant in Calgary, Alberta (Plant 1062381, PEC 56000772).

Located on 114th Avenue and 68th Street in Calgary, Alberta, construction on the 51,000 square-foot plant started in March 2004 and is slated for completion in June 2004. The plant includes 40,000 square feet of manufacturing area and approximately 11,000 square feet of office area. The new plant will consolidate manufacturing operations from three separate facilities in Southeast Calgary into one integrated facility. Existing plants A & B are located at 6235B-86th Avenue and a third plant, which is a machine shop is located on 40th Street. These three plants will be closed upon start-up of the new operation. The new plant will also include upgraded manufacturing equipment and systems, as well as new and existing production lines and areas.

Canfer Rolling Mills Limited, headquartered in Calgary, Alberta, was awarded the engineering and construction contract for the new plant.

Innicor Subsurface Technologies Incorporated, founded in December 1999, designs, manufactures, and services subsurface equipment to be used in the completion and work-over of oil and gas wells. Innicor's products include tubing conveyed perforating equipment, perforating guns, flow control equipment, wireline work string equipment and completion equipment. Innicor is a publicly traded company listed under the symbol (IST) on the TSX Venture Exchange. Innicor currently operates their products through six field distribution warehouses in Canada, two locations in Venezuela and four United States locations.