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Feb. 13, 2013 /PRNewswire/ -- HII Technologies, Inc. (the "Company"), symbol OTCBB: HIIT, an oilfield services company headquartered in
Houston, Texas, today announced that it has established an oilfield safety consulting business unit called "AES Safety Services" within its AES Water Solutions subsidiary by consolidating several experienced independent oilfield safety engineers.
AES Safety Services works directly with oilfield operators to assist in establishing and developing Health, Safety and Environmental programs that are customized to client companies' specific needs. The services offered cover a wide array of aspects from onsite training and inspection to field audits testing for compliance with increasing Federal and State requirements.
The expected value to the customer includes expedited access to qualified trained personnel, flexibility to have safety consultants move from site to site as the customer programs dictate and reduced overhead by outsourcing this integral component of oilfield operations. AES Safety Services will continue to add independent contractors providing best-in-class personnel to assist in the reduction of workplace injuries through teamwork, professionalism and training.
AES Safety Services' current largest customer is operating in active oilfield areas in
West Virginia and
Texas. The Company is in discussions with existing customers and prospective new customers for other market areas to utilize its expanding suite of services. The Company generated revenues in its first month of operations from existing customer relationships and is anticipated to rapidly grow as new safety consultants are added.
Charles Davis, an experienced safety engineer who is President of AES Safety Services, stated, "I am pleased to join the AES team leading this new division. The customer relationships I bring from my experience in the Eagle Ford shale area and the dedication to excellence that HII brings to all of its activities will result in a win-win for both our team and customers."
Brent Mulliniks, President of AES Water Solutions, stated, "Some of the largest oil companies that we work with are interested in outsourcing their onsite safety personnel to insure independence, develop more flexibility and reduce their overhead creating a highly scalable business model for AES' new division. Strategically, safety consultants typically build good working relationships with drilling operators which foster excellent referral channels. Due to upcoming new state and federal regulations, AES believes there will be an increasing market demand for these niche services."
To provide an initial base reference point, Matt Flemming CEO of the Company, announced, "We anticipate significant revenue contributions from the AES Safety Services division by the second quarter of fiscal 2013, currently estimated at about
$300 thousand per fiscal quarter. The Company currently does not anticipate any material capital expenditures will be needed for this division during 2013 and that its working capital needs can be addressed under the Company's existing
$1 million line of credit, which has yet to be used."
About HII Technologies, Inc.
HII Technologies, Inc. is a
Houston, Texas based oilfield services company with operations in
West Virginia focused on commercializing technologies in water management, safety services and portable power used by exploration and production companies in
the United States. The Company's total water management services subsidiary does business as AES Water Solutions, AES Safety Services is its onsite oilfield contract safety consultancy, and its mobile oilfield power subsidiary does business as South Texas Power (STP). Read more at