HOUSTON, TX (SEND2PRESS NEWSWIRE) — Lyamec completes formation of “Global Oil Tools Qatar.” Under agreement terms with Global Oil Tools (OTC Bulletin Board: GFCI) The Lyamec Group owns manufacturing and distribution rights in The Middle East, Africa, and Azerbaijan.
In a prepared statement by Lyamec interim CEO R.G. Raymond: “We are bringing positive commercial applications for the Global/Grifco ‘brand’ and the recognition it deserves in the region. We are moving expeditiously to finalize the organization’s process to prepare Grifco’s facilities to access the orders and revenues we are in agreement on. Additionally, we are in final stages of adding more than 13,000 fishing tool product line to ‘Global Oil Tools Libya’ venture. Concurrently we would allow and provide for Grifco International in adding these products to its current lines under a joint ‘right of manufacturing’ agreement.”
About The Lyamec Group
The Lyamec Group (www.lyamec.com) was established in 1999 to fulfill the existing and expanding demand for U.S. made products for specific Libyan market segments as outlined by President Clinton on April 28, 1999. The Lyamec Group provides vital assistance in laying unique and integrated platforms with cross-border assets to further streamlining efficient and effective opportunities and solutions.
Ref: Ticker OTC:BB GFCI / Pink Sheets GFCI.pk