Business outlook in Q1 2010

TIMEC’s continuous resilience coupled with its commitment to adapt to its clients’ needs has allowed the company to provide short and long term services to petrochemical and refining producers as well as to a diversified group of producers beyond the oil and gas industry.

TIMEC has consistently provided services to the food processing industry, which fostered the recent award of a civil and structural project at Ingomar Packing in California. Ingomar Packing is a producer of canned diced tomatoes and tomato paste. Estimated man-hours for completion of the contract within six months from inception is set at 25,000.

On the organic chemicals front, TIMEC has been supporting Centauri Technologies in Texas, with maintenance services and small projects mainly linked to catalyst change-out needs. In addition to organic chemicals, the company produces gas materials.

Downstream, on the carbon chain, TIMEC has been involved with companies that provide interior and exterior materials for the housing segment. TIMEC will be providing instrumentation and electrical services for a plant renovation project at Certainteed in California, which provides the market with home building products such as vinyl siding, fiber cement siding and insulation. The job is expected to be finalized by the end of Q1 2010.

In the refining and petrochemical sectors, TIMEC was awarded many projects for the first quarter, which range from brief jobs of three or four days, providing repairs in high temperature environments while the units in question remain operating at reduced rates, to three-year maintenance contracts.

Maintenance and specialty services contracts include the renewal of a three-year agreement with ConocoPhillips, mechanical and catalyst change-out agreements with Murphy Oil, and several turnaround commitments to provide pipe fabrication, specialty welding, safety, instrumentation and electrical services as well as mechanical and catalyst support to long-standing clients such as ConocoPhillips, Valero, Chevron, BP, ExxonMobil and Dow.

TIMEC and its affiliates will continue to provide a wide range of services for daily maintenance, turnaround and capital projects to current clients across the US while it continues to broaden the scope of industries it supports.