IEV acquires Oxifree corrosion control license for RI market
Saturday, February 7 2015 - 04:39 AM WIB
SGX-listed IEV Holdings Ltd announced Friday that, in January 2015, its Indonesian subsidiary, PT IEV Indonesia has obtained an exclusive 5-year master license for the Oxifree corrosion control technology for Indonesia from the USA-based licensor, Oxifree Global LLC.
The company said in a statement that this is the fourth country in South East Asia for which it has acquired the exclusive rights to distribute, apply and maintain products utilizing the technology, after Vietnam, Malaysia and Brunei.
Oxifree is a sprayable polymeric resin coating that protects a wide range of bolted metallic components with complex geometries such as flanges and valves where corrosion attack is most challenging to arrest. Oxifree is sprayed onto metallic surfaces to form a thermoplastic layer, which eliminates the ingress of moisture, air and particulates maintaining the metallic surfaces free of corrosion. It can also be easily removed for inspection and subsequently reused, the company explained.
This unique maintenance technology has applications in a broad range of industries such as mining, power, utilities, marine and oil and gas etc. Oxifree also compliments a suite of cathodic protection solutions already offered by the group?s offshore engineering sector.
Starting with Vietnam, IEV Holdings has already implemented the technology on a number of offshore platforms, gas plants and successful trials have been carried out on fertilizer plants and refineries.
President and CEO, Christopher Do, commented ?The acquisition of the license in the applicable countries within the South East Asia region demonstrates the Group?s continuous drive in applying innovative technologies to save operating costs, a cornerstone of IEV?s business strategies.?
Editing by Reiner Simanjuntak