CALGARY, Alta. — Moveitonline’s shareholders have approved changing the corporation’s name to Producers Oilfield Services Inc, a name the company says better reflects its strategic direction.
The company is in the midst of officially changing the name, and the symbol it will be traded under at the Toronto Stock Exchange is being changed to POS. The changes should be in place by the end of the month.
Murray Mullen, chairman of the newly-named company, says that the corporation is going in a new direction with its recent acquisition of Producers Disposal Services.
“The oil and gas industry in western Canada is currently enjoying an upturn as a result of the high prices for both crude oil and natural gas. Each well drilled, along with each producing well, generates waste, which must be transported and properly disposed. With Producers Disposal, we see a unique opportunity to enter a market where there are few competitors and high capital requirements. Further, we believe that our e-business application, moveitonline(TM), will enhance our business model and bring value to our customers,” says Mullen.
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