Mark Tool and Elite Elastomers Form MTE Joint Venture

FRANKLIN, La. – Mark Tool and Elite Elastomers have entered into a joint venture focused on the research, development and end-use application for complete elastomeric subsea high temperature thermal insulation systems. The systems can be installed via three methods: S-Lay, J-Lay and Reel-Lay. The newly formed company has been named MTE, representing the combined strengths of Mark Tool and Elite Elastomers.

MTE will build on Elite Elastomers’ elastomeric material research and development innovations and Mark Tool’s application and manufacturing technology. MTE, which will initially focus on the Gulf of Mexico, will enable the two companies to grow within the field of high temperature subsea thermal insulation systems, while offering complete turn-key solutions.

Jerome Hebert, Mark Tool and MTE owner, commented, “We are excited to partner with Elite Elastomers to develop a new, complete, elastomeric solution system for the subsea thermal insulation market. We look forward to combining our capabilities and technologies to deliver innovation in the end-use application. We are excited about the state-of-the-art production capabilities this new chapter will bring, as it will allow us to provide our customers with an insulation system from the splash zone to the sea floor.”

Steve Glidewell, president, Elite Elastomers and owner of MTE, said, “We are thrilled to have established this joint venture and look forward to combining our efforts with the Mark Tool team. MTE’s product is unique in the market. It is the only insulating material capable of operating at 350 degrees Fahrenheit while capable of being deployed using the J-Lay, S-Lay and Reel-Lay methods.”

The joint venture team will be formed from current Mark Tool and Elite Elastomers employees and will be located in Louisiana and Mississippi in the U.S. For more information, visit www.mtesubsea.com.

About Mark Tool

Mark Tool was founded in 1954 with a current product line consisting of products including SPLASHTRON^®, Bio-Shield^® and ThermoTron 350^®. Many of these products have been utilized by major oil and gas companies for more than 60 years. Mark Tool’s focus is on the development and application of insulation for splash zone protection of platform structural members, risers, J-tubes and conductors. Applications include popular oil and gas needs such as industrial anti-corrosive coated products, molded rubber and cast urethane. Mark Tool operates an in-house machine shop, which specializes in elastomeric roller machining and grounding, mold and die fabricating and the manufacturing of parts for the oil and gas industry worldwide. The Mark Tool facility is equipped with state-of-the-art equipment to supply elastomeric application needs. Mark Tool is located in Franklin, Louisiana. For more information, visit www.marktool.com.

About Elite Elastomers

Elite Elastomers, headquartered in Ripley, Mississippi, was founded in 2001 as an Applicative Compounder who is expertly skilled in material engineering and the unique chemistry of elastomers. Elite Elastomers is an applications-driven supplier who specializes in high-performance, non-metallic materials solutions. Elite Elastomers offers the most robust elastomeric solutions for the oil and gas market. By using new technologies, new materials and new methods, Elite is prepared for future application demands, which also prepares customers for the future. As a Technical Product Partner, Elite uses its extensive culture of understanding applications, material design, prototype and research and development to produce a winning material. Elite Elastomers services the elastomeric market via practices in seamless integration and collaborative alliances. For more information, visit www.eliteelastomers.com.