FT. WORTH, Texas, March 26, 2015 /PRNewswire/ -- Galenfeha,
Inc., (OTCBB: GLFH) announced today it has completed the
acquisition of Daylight Pump, LLC, which makes it the manufacturer
of one of the most accurate chemical injection pumps in the
oil and gas production market.
This new product line will have a positive impact on the
company's revenue growth in the coming months by allowing Galenfeha
to penetrate the chemical injection pump market for oil and
gas producers.
The pump system's design and technology allows for increased
chemical injection accuracy previously unheard of in the current
market. Such increased accuracy significantly reduces
chemical contamination in the production process while controlling
chemical cost and waste. Galenfeha will be moving production
to the company's manufacturing and distribution facility in
Shreveport, Louisiana.
"We are happy to announce the completion of the Daylight
transaction," said James Ketner,
President and Chief Executive Officer of Galenfeha. "The
acquisition adds additional products to our revenue stream and
reaffirms our goals outlined on our 2015 Statement of Work
disclosed in our latest filings with the Securities and Exchange
Commission. The transaction delivers a significant premium to
our stockholders and offers them, our business, and our business
partners the opportunity to realize these additional benefits
from the synergies of the combination."
The chemical injection market share approaches $1 billion annually in the United States and North America, alone. Galenfeha will
market, service and sell the individual and complete systems
via direct sales as well as established relationships with local
and national distribution partners such as Fleaux Services of
Louisiana, LLC.
About Daylight Pump, LLC
Daylight Pump, LLC is a unique and exciting manufacturer in the
industry with the advent of a revolutionary, hybrid, electric over
pneumatic system which merges the positive benefits of both aspects
of chemical injection modalities. The pneumatic based
system easily services the very high-pressure environment of
many of today's oil and gas locations. The electric rate control
brings a new level of precision to the fluid volume control
management. The combination of these two parameter control
systems represents a measurable shift in efficiency, reliability,
cost management, and profitability to individual well locations as
well as entire production fields.
About Galenfeha, Inc.
Galenfeha (OTCBB: GLFH) is a design, engineering, and
manufacturing firm with a focus on stored energy and a conscious
pursuit of low environmental impact product development.
Galenfeha also proudly designs, manufactures and markets a complete
line of patent pending, microprocessor controlled, LiFePO4
chemistry battery systems, as well as a full line of proprietary
chemical injection systems.
For more information on Galenfeha's products and services,
please visit www.galenfeha.com.
Contact Information
Jeff Roach
President/Oil and Gas
Galenfeha, Inc.
jroach@galenfeha.com
318-286-0536
Forward-Looking Statements: Except for historical information
contained in this release, the matters discussed are
forward-looking statements that involve risks and uncertainties.
When used in this release, words such as "anticipate," "believes,"
"estimate," "expect," "should," "intend," "projects," "objective,"
and "appears," and similar expressions, as they relate to the
Company or its management, identify forward-looking statements.
Such forward-looking statements are based on the beliefs of the
Company's management, as well as assumptions made by and
information currently available to the Company's management. Among
the factors that could cause actual results to differ materially
are the following: the effect of business and economic conditions;
the impact of competitive products and pricing; capacity and supply
constraints or difficulties; product development,
commercialization, or technological difficulties; the regulatory
and trade environment; the impact of reimbursement rates and
coverage; and the risk factors reported from time to time in the
Company's SEC reports. The Company undertakes no obligation to
revise any forward-looking statements as a result of future events
or developments.
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SOURCE Galenfeha, Inc.
