EWS will retain existing management including engineering personnel and field techs. If forecasted correctly, the new division should bring additional revenue and profitability to Platina by year-end.
Blair Merriam, President, stated, "The acquisition of EWS has been a long time in the making and will add an important income stream for the Company. It will also provide for additional expansion opportunities currently under contract with EWS."
In 2005, Platina Energy began operations in the oil and gas industry. The company also owns rights to a German oil extraction technology for reduction of paraffin build up for certain field conditions.
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