N E W S R E L E A S E
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October 1, 2004
Xanser’s Furmanite Announces
Important License for Malaysia Operations.
Engineering services company only one in its field to gain Petronas license
DALLAS, TX - Furmanite, the worldwide technical and specialty services company and wholly owned subsidiary of Xanser Corporation (NYSE: XNR), today announced that Furmanite Malaysia Sdn Bhd, based in Kuala Lumpur, has been awarded the prestigious Petronas license. Petronas, short for Petroliam Nasional Bhd, is Malaysia's national petroleum corporation. Wholly-owned by the Government, the corporation is vested with the entire oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. This important license enables Furmanite to provide a broad range of engineering services and technologies including leak sealing, bolt tensioning and torquing and on-site machining - all geared to maximizing asset uptime - directly to Petronas facilities.
Furmanite is the only company in its field to hold this authorization, and has successfully qualified for the license following a rigorous and lengthy application process. Petronas awarded the license to Furmanite based upon its operations in Malaysia, its proof of ability to deliver services and its track record for performance. The license allows Petronas access to Furmanite as a service provider without requiring an application process each time the company’s services are required.
"The Petronas license is a significant achievement for Furmanite, and we are proud to be the only company in our field to be awarded this license," said John R. Barnes, chairman, president and chief executive officer of Xanser Corporation. "This greatly enhances Furmanite’s competitive position in Malaysia."
According to C. Jeffery Chick, president of Furmanite, "We are now able to work directly for Petronas, which is the major player in the oil and gas industry in Malaysia, and offer our wide range of engineering services in response to contract proposals. We look forward to expanding this relationship going forward."
Furmanite’s services are extensively used by the oil and gas industry around the world, and include on-line pressure leak-sealing, on-site machining, Trevitest on-line valve testing, valve repair, joint integrity management and controlled bolting, composites repair and strengthening, and pipeline intervention (hot tapping, line plugging and pipe freezing). Furmanite is focused on maximizing asset uptime for its customers, saving them significant time and costs. The company is also renowned for its custom engineered solutions for specific applications.
About Furmanite
Furmanite’s business is the protection and management of its customers’ critical assets, and the company’s technical and technological capabilities help to assure that customers’ critical assets are on line and performing for maximum profit. 2004 represents 75 years of Furmanite serving as ‘the’ worldwide expert in the field of on-site and on-line plant and pipeline maintenance. Furmanite’s single mission and business goal is to maximize asset uptime for customers. Specifically, everything Furmanite does directly relates to keeping an asset on-line, productive and profitable; be it a pipeline, a plant, or personnel. Furmanite ensures asset productivity and profitability for a variety of industries -- chemical and petrochemical, oil and gas, power generation, pulp and paper, pharmaceutical, and national defense. This commitment to excellence, coupled with Furmanite’s broad array of services and patented technology, is a critical component to the operation and financial success of some of the world’s largest process manufacturers and energy producers and suppliers including Shell, ExxonMobil, Sun Oil, Dominion, Exelon, Cinergy, Entergy and Reliant. Furmanite has more than 40 offices on five continents. Its website is www.furmanite.com.
Furmanite Malaysia Sdn Bhd was established in 2000 and is based in Kuchai Entrepreneurs Park in Kuala Lumpur. With an in-depth understanding of the region, a local workforce, plus technology and equipment available for rapid deployment, the company serves its oil and gas industry customers through engineering skills and expertise, technology, and speed and quality of service.
ABOUT XANSER CORPORATION
Xanser Corporation (NYSE: XNR) provides technology-based and technical services worldwide. Headquartered in Dallas, Texas, Xanser’s operations consist of an information technology services company, Xtria, and an international specialty services firm, Furmanite. Xtria is an information technology services provider for the healthcare, financial and insurance, and government markets through focused offerings of solutions, services and systems. In the healthcare market, Xtria provides managed service solutions for the implementation and management of Picture Archiving Communications Systems (PACS). In the financial and insurance market, Xtria provides risk management information systems (RMIS). For agencies of the federal, state and local government, Xtria provides information technology services. With established intellectual capital and product knowledge, Xtria’s market-focused operations have many years of experience and a track record of success in the healthcare, financial and insurance, and government markets. Furmanite, one of the world’s largest specialty technical services companies, delivers a broad portfolio of engineering solutions that keep facilities operating, minimizing downtime and maximizing profitability. Furmanite’s diverse, global customer base includes offshore and land-based drilling operations, pipelines, refineries and power generation facilities, steel mills, automotive manufacturers, pulp and paper mills, food and beverage processing plants, semi-conductor manufacturers and pharmaceutical manufacturers. Furmanite operates more than 40 offices on five continents. For more information, visit www.xanser.com.
Investor Relations
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Certain of the Company's statements in this press release are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management’s intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in the Company’s business, and other risks and uncertainties detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission. One or more of these factors have affected, and could in the future affect, the Company’s business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this document will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and the Company assumes no obligation to update any forward-looking statements.