Molly Ryan Houston Business Journal Reporter, October 19, 2012 – ProOne, a fast-growing California-based lubricant developer, is set to move into the Houston market to supply energy companies with an environmentally friendly lubricant used for oil and gas drilling operations.
After signing a distribution agreement this month with Houston-based National Oilwell Varco Inc. (NYSE: NOV), ProOne plans to open a Houston sales office in early 2013 with about six employees. Later that year, the company plans to move its drilling division headquarters from Costa Mesa, Calif., to the city as well. After the move, ProOne officials said they will be closer to key customers and will ramp up plans
Molly Ryan covers manufacturing, technology, the Port and logistics.
Reporter- Houston Business Journal
Based in Orange County, California, ProOne, Inc. (ProOne), the operating division of ProOne Holdings, Inc., is in the business of developing and marketing high-performance, cost-effective, lubricants and fuel products for commercial, industrial and retail customers. ProOne produces the most advanced and effective drilling lubricant in the world. Approved for use by major drilling fluid suppliers, ProOne provides the drilling fluid through distributors such as National Oilwell Varco (NOV/Wilson). All products in the family, including the revolutionary drilling fluid, use its proprietary XPL+ technology. The products are proprietary formulations based upon metallurgical and molecular science that reduce friction substantially better than other products on the market, with over 50 times the film strength of conventional lubricants. For additional information on ProOne visit www.pro-one.us.
Press Contact: Robert Neumann
Public Relations for
Corporate: Lawrence Kahn
VP and General Manager
Statements contained in this news release, aside from those identifying historical facts, are ‘forward looking statements’ within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company’s future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.