Alberta, Canada-based plant equipment provider for the energy sector Flint Energy Services Ltd and California, US-based coating company Sub-One Technology Inc. have entered into an agreement to form a new jointly owned company to produce and market a new hard surfacing treatment called InnerArmor(R) technology.
Owned 51 percent by Flint and 49 percent by Sub-One, the new company will operate in North America and provide surface treatment services to clients in the oil and gas industry. Flint anticipates its initial investment in the first year to be up to $7 million and a portion of the investment will be used to purchase Sub-One shares.
InnerArmor protects metallic surfaces from wear, abrasion, corrosion, erosion, scaling and friction, extending surface life and reducing maintenance costs. InnerArmor grows a very hard, durable, diamond like surface on the inside of pipes, valves, elbows, and other parts.