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Reeflex Solutions Inc. ( (TSE:RFX) ) has provided an announcement.
Reeflex Solutions Inc., via its wholly owned subsidiary Coil Solutions Inc., has delivered an 80,000-pound AC electric injector to XtremeX Mining Technology for integration into XMT’s hybrid coiled tubing drilling platform, blending CSI’s proven hydraulic injector head design with XMT’s electrification, controls and automation systems. The collaboration marks a strategic step in Reeflex’s diversification beyond traditional oil and gas into mining and other industrial markets where electrified, automated equipment can improve safety, efficiency and data quality, reinforcing the company’s bid to position its injector and equipment expertise at the heart of next-generation drilling technologies and opening additional growth avenues as XMT’s hybrid platform moves toward commercialization.
More about Reeflex Solutions Inc.
Reeflex Solutions Inc. is a Canadian engineering and manufacturing company serving multiple industrial sectors. Through its subsidiary Coil Solutions Inc., it supplies coiled tubing injectors and downhole tools primarily to the oil and gas industry, while its Ranglar Manufacturing division designs and builds custom mobile equipment for a range of industrial applications, and the company is increasingly targeting high-growth markets such as mining, geothermal and other electrification- and automation-driven segments.
Average Trading Volume: 23,778
Technical Sentiment Signal: Buy
Current Market Cap: C$1.29M
Find detailed analytics on RFX stock on TipRanks’ Stock Analysis page.