Galenfeha Secures Additional Contracts
Galenfeha CEO Updates Shareholders
Galenfeha's Wastewater Division Providing Growth
GALENFEHA’S WASTEWATER DIVISION PROVIDING GROWTH
FORT WORTH, Texas, Nov. 08, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Galenfeha, Inc. (OTC:GLFH) shared today the Company’s Fleaux Solutions Division, with Wastewater Rehabilitation Operations, gains momentum while continuing work under the Phase II Contracts previously awarded for 2018.
Galenfeha’s Fleaux Solutions Division uses patented technology to reduce State and Local Government cost in the repair and rehabilitation of wastewater routing. The technology primarily uses a polymer that is inserted into pipelines, expanded, and then cured with Ultraviolet Light. This method allows for repairs to be made without complete removal and replacement of water lines.
Mr. Trey Moore, Galenfeha’s CEO, stated: “We are finding our niche in the wastewater rehabilitation industry with our exclusive patented lateral lining technology. As Phase II Wastewater Rehabilitation Projects continue, consistent improvement in project management has put previously delayed schedule shifts back in line with government deadlines.”
The company is moving forward with an emphasis on efficiencies, organization, and performance. The company’s Third quarter revenues exceeded $1MM, a significant increase from second quarter results.
Mr. Moore continued: “While our Fleaux Solutions operation is susceptible to daily weather fluctuations and prime contractor delays, we have implemented processes that will improve our performance despite these types of holdups. These new processes will help us better meet revenue forecasts made earlier this year.”
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