Movement Industries Corporation Announces Joint Venture Alliance With an Excess of Ten Million Dollar Contract
HOUSTON, TX, June 29, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Movement Industries Corporation (OTC PINK: MVNT) (the “Company”) has announced that it has completed the formation of a joint venture and this opportunity has been awarded a contract which will generate an excess of ten million USD. Mr. Nguyen, CEO, states “This joint venture is an alliance for the collaboration of expertise, products and services to bring solutions that addresses and resolves the full scope of this Pemex opportunity. This initiative establishes a foothold for the group to engage Pemex and the energy industry in their digital transformation migration. I am incredibly proud of the efforts of our entire team as I know the work on this contract will have greater value for our stakeholder.”
Sami Suheil, Vice President of Technology, adds, “The joint venture is an alliance of three companies that have entered a joint tender bid to Pemex for the remote monitoring of well real time data for on-shore and off-shore operations in Pemex southeastern region. The entire joint venture team is excited not only about this initial contract but is also looking forward to the follow-up contracts and potential future contracts that could be required to support the technology implementation. The services include providing to the end client an integrated data acquisition of real time production data for Pemex wells on-shore and off-shore.”
Mr. Nguyen concludes, “Once again, we are proud of our team for the additional time and effort spent in winning this bid. We also want to thank our stakeholders for their continued support as we grow our Company and we want our stakeholders to know they can continue to expect updates on the follow-up contracts as we grow this opportunity.”
About Movement Industries Corporation
Movement Industries Corporation invests in emerging growth companies in energy, oil & gas, renewables, agricultural 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 and new customers.
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Safe Harbor Statement – In addition to historical information, this press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.
Source: Movement Industries Corporation
