MONTREAL, Nov. 10, 2005 (PRIMEZONE) -- Beluga Composites Corporation (Pink Sheets:BGCC), an international leading manufacturer of underground flammable-liquid storage tanks, which owns the technology that has earned both the Underwriters Laboratories' UL 1316 and ULC-615-S certifications for fiber glass reinforced plastic (FRP) underground storage tanks for petroleum products, made the following announcement relating to the successful operations of its Philippines plant:
Mr. Dean Panofsky, Chairman of the Board announced today: "We are delighted to inform the many people who have supported our efforts in the Philippines that we have received orders from Caltex, and that we have started delivering double wall tanks to several of their sites. This is the beginning of a long-term relationship which will hopefully be expanded in the near future to cover accessory products as well.
"Engineers from Caltex, a Chevron-Texaco company, had come to visit the Philippine plant in Taguig few months ago and were very pleased with the quality of our tanks, our manufacturing process and service that we could offer them. After a number of initial trial orders they were further impressed and extremely satisfied with our surveillance of the delivery and installation process. We have spent time with several installation contractors helping them to better manage the risk of damage to tanks during the transport and on site manipulation.
"Based on our initial assessment of the success of this joint cooperation, we believe very strongly that they will in turn become supporters of the Beluga product line as well and further enhance our reputation in this market."
About Caltex
Caltex, www.caltex.com, a Chevron-Texaco company, employs more than 6,000 people across Asia Pacific, the Middle East and Africa, and has generated revenues of more than US$20.2 billion in 2000. Caltex operates more than 7,800 retail outlets, including 4,500 branded Caltex stations and 700 Star Marts, across 60 countries and territories, including many emerging, high-growth markets. Caltex has operating companies in the Asia-Pacific region, Africa and the Middle East.Caltex conducts more than half of its business through alliances with other companies and national governments.
About Beluga
Beluga Composites Corporation is a manufacturer of UST, related accessories and oil/water separators. Member of the Petroleum Equipment Institute, Panox has the technology and holds the Underwriters Laboratories UL 1316 and ULC-615-S certifications for fiber glass reinforced plastic (FRP) underground storage tanks for petroleum products. We are the only company in the world which presently holds both the UL 1316 and the ULC-615-S.
Beluga manufactures single wall and double wall FRP UST that are of higher quality and environmentally safer than steel tanks, being 100% corrosion resistant. Moreover, Beluga's tanks are produced using the next generation FRP UST technology, FILAMENT WINDING, and as such, they are mechanically and structurally superior to FRP tanks produced by the competition which still uses the first generation FRP UST technology, SPRAY UP, which depends on a structural type of back fill during installation. Beluga's technology produces a structurally autonomous UST with fully integrated, physical characteristics independent of any consideration for the type of backfill to be used. The key advantages of the Beluga manufacturing process are: efficient and computerized filament wound technology, consistent high quality controlled modularly designed products and competitive pricing.