PALM DESERT, Calif., Sept. 4, 2007 (PRIME NEWSWIRE) -- Nitro Lube, Inc. (Pink Sheets:NLUB), today announced that Nitro Lube USA, Inc. has finalized an agreement with ProTec Lubricants, LLC of Memphis, TN, by which ProTec will immediately begin producing and bottling all Nitro Lube's products containing PMF 2000, to Nitro Lube, Inc.'s specifications. ProTec will drop ship to Nitro Lube's designated California fulfillment location.
The CEO of Nitro Lube, Inc., Tom Yarbray, stated, "This agreement will save Nitro Lube USA hundreds of thousands of dollars in labor, building and equipment costs necessary for the company's previously proposed Coachella Valley plant." He added, "The agreement also benefits Nitro Lube Canada, as it will potentially eliminate the need for a new Canadian production facility, allowing both companies to concentrate primarily on promotion and revenue."
Mr. Charles Hester, Founder and Mgr. of ProTec stated, "I have worked closely with the senior executives of Nitro Lube USA, Inc. and their counsel, for several months negotiating this contract, and, I am very pleased that we have now formed this alliance. Nitro Lube is well known in the lubrication industry for their superior products and we are pleased to now be associated with them."
About ProTec Lubricants, LLC
ProTec Lubricants LLC has been in business producing high quality anti-friction lubricants for industry since 1979. The company offices and plant were in Memphis, TN until late 2006. Founder, Charles Hester and his son Chris Hester, now operate ProTec's production facilities in Olive Branch, MS. ProTec continues to maintain corporate offices in Memphis, TN. ProTec manufactures and sells a variety of lubrication products and fuel conditioners to its network of direct customers and distributors. ProTec's address: 8931-1 Yahweh Road, Olive Branch, MS 38654. Ph (901) 473-4478 Fax (901) 405-4478.
About Nitro Lube, Inc.
Nitro Lube, Inc. is a marketing and holding corporation, organized under the laws of the state of Nevada on March 22, 1996. Nitro Lube, Inc. currently owns 100% of Nitro Lube Canada, Ltd. (a Canadian corporation) and Nitro Lube USA, Inc. (a Nevada corporation) both of whom are engaged in the business of manufacturing and worldwide marketing of high tech lubricants and fuel conditioners. All products produced and sold by Nitro Lube contain the revolutionary "PMF2000" formula. Nitro Lube, Inc. has offices in Langley, B.C., Canada and an executive office in Palm Desert, California, USA. The company's subsidiaries maintain websites at: http://www.nitrolube.com and http://www.nitrolubeusa.com.
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Nitro Lube, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to expand. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.