August 17, 2007 Attention: George Sfeir, CEO Technical Industries Regarding: Letter of Agreement
EXHIBIT
10.5
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August 17,
2007
Attention: Xxxxxx Xxxxx, CEO
Technical
Industries
Regarding: Letter of Agreement
|
 |
The
intention of this letter is to introduce Technical Industries, Inc. and their
associates as an authorized distributor of North American Interpipe, Inc. (a
Division of Interpipe, Inc., Ukraine) and its subsidiaries.
Technical
Industries, Inc. is a well known and respected pipe inspection and services
company established in 1971. My experience with Technical Industries dates back
to the early 1990's while selling domestically produced seamless pipe for
Cargill Steel / North Star Steel Company (now V&M Star). Technical
Industries has been serving the major oil companies since 1971 and is well
regarded for developing and patenting various inspection processes and equipment
used especially for deep water and critical projects.
Interpipe
manufactures and distributes (hot and cold rolled) seamless and welded steel
pipe products. We have produced products for the oil & gas sector since
1957. Interpipe's product portfolio is strongly focused on technologically
advanced tubulars necessary for the production and transportation of oil and
gas. Over 60% of Interpipe's $2.7B revenues in 2006 were derived from sales in
the oil and gas sector. We strongly believe our future is bright via our
commitment to advanced distribution partnership opportunities such as our
partnership with Technical Industries, Inc.
/s/ Xxxxx
Xxxxx
Xxxxx
Xxxxx
General
Manager
North
American lnterpipe
0000
Xxxx Xxxx Xxxxx, Xxxxx 000
Houston,
TX 77057
