HOUSTON, Nov. 5, 2013 (GLOBE NEWSWIRE) -- HII Technologies, Inc. (the "Company"), symbol HIIT (OTCBB/OTCQB), an oilfield services company headquartered in Houston, Texas, with operations in Texas, Oklahoma, Ohio and West Virginia today announced it has entered into a strategic alliance agreement with CRS Reprocessing Services ("CRS"), a global fluids reprocessing management company that is headquartered in Louisville, Kentucky. The technology alliance was formed to broaden and enhance the services AES Water Solutions ("AES") provides in its water and fluids remediation business during onsite fracing operations.
Utilizing the proprietary technology and modular design of CRS's systems, AES will be able to provide drilling fluid reprocessing and top hole solids control to its customers' well site operations. AES anticipates this to elevate its existing service offering by efficiently maximizing the recovery of valuable materials while reducing the risks and costs associated with transporting such fluids to distant reprocessing sites. Additionally, the modular units permit AES to address the varying needs of its customers, while minimizing the footprint necessary to operate.
Mr. Brent Mulliniks, President of AES Water Solutions, stated, "The CRS Reprocessing alliance is strategic to our firm by enabling us to immediately provide additional remediation and reprocessing services onsite to our existing and future customers furthering AES' commitment to provide comprehensive water management services to our customers. The technologies offered by CRS will compliment AES' existing water transfer, flow-back and remediation services." Mr. Mulliniks also stated, "As a result of this alliance, we believe CRS' technologies will provide an advantage for AES in the Texas and Oklahoma markets where we operate while expanding revenues and attracting additional customers."
Scott Massie, CEO of CRS Reprocessing Services, stated, "AES' focus in the Texas and Oklahoma markets increases our technology's access to some of the most active oilfield plays in the domestic United States including the Eagle Ford, Permian, Granite Wash and Eaglebind plays. Our success is due to our great people who have built an excellent track record with our customers and partners. We look forward to applying these same principles in the AES relationship in these key markets — building value in both our companies."
About HII Technologies, Inc.
HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. The Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays by deploying oilfield related technologies to enhance the value of services it offers its customers. The Company's frac water supply and flow back services subsidiary does business as AES Water Solutions, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage. Read more at www.HIITinc.com, www.AESwatersolutions.com and www.Oilfield-Generators.com.
About CRS Reprocessing, LLC.
CRS is a global provider in fluid reprocessing management, offering people, technology and services to efficiently handle industrial fluids for a variety of industries. With more than 30 years of expertise and operations in the U.S., Europe and Asia, the company provides custom-built, on-site reprocessing and mobile facilities that economically transform used fluids back to customer-specified performance levels, allowing high-yield waste recovery and lower unit costs. CRS' leadership in the fluid reprocessing market includes proprietary recycling processes.
The company's private-equity partners have a combined portfolio value in excess of $1 billion, giving it the capital resources to expand operations and deliver engineered reprocessing solutions worldwide.
More information about CRS can be found online at www.crs-reprocessing.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII Technologies, Inc. ("HII")'s current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2013. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.
Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.
Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.
CONTACT: Matthew Flemming, HII Technologies, Inc. +1-713-821-3157Source:HII Technologies, Inc.