Movement Industries Corporation has announced that its subsidiary, Hi-Alloy Valve, has passed a site audit by a major international electricity and natural gas delivery company with operations in the northeast United States. Hi-Alloy has shipped several valves to the potential customer for extensive operational testing and is now in the final stages of the approval process.
Once testing is complete and Hi-Alloy receives final approval as a vendor, it expects to receive orders soon afterwards with revenues from this one customer eventually growing to over $10 million per year.
Mr. Luis Beita, CEO of Hi-Alloy Valve, stated: “This particular customer has one of the most rigorous approval processes in the industry and is one of the most difficult approved manufacturers lists to qualify for. We are very fortunate to have this opportunity. Once we are approved as a vendor, it will help expedite the approval process for other major energy suppliers.”
Image credit: Movement Industries Corporation