ST. LOUIS, Jan. 10, 2005 (PRIMEZONE) -- International Fuel Technology Inc. (OTCBB:IFUE), a fuel science and research company, today announced that it has signed a distribution agreement with Petrochem, one of the largest independent petrochemical distributors in the Middle East. Petrochem will distribute International Fuel Technogy's (IFT) additives to industrial bulk users and commercial distributors in various parts of the region. The agreement between Petrochem and IFT includes an initial order of DiesolIFT(tm), IFT's diesel fuel additive, for the Pakistani market.
"Though rich in oil resources, the demand for our additives in the Middle East reflects the universal need to save costs on fuel and decrease harmful emissions," said Gary Kirk, IFT's Director of Sales and Marketing. "Given Petrochem's long-standing relationships with clients in more than 25 countries in the region, we believe this will generate significant revenue opportunities for IFT."
Yogesh Mehta, Managing Director - Petrochem, said "We have been evaluating IFT's technology for some time and are excited to partner with the company to bring better performing fuel blends to our retail distribution customers."
About Petrochem
Petrochem is one of the largest independent petrochemical distributors in the Middle East and a leading wholesale petroleum distributor selling petroleum based fuel products to numerous retail fuel distribution companies. (www.petrocheme.com.)
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