CALGARY, Oct. 10, 2013 /CNW/ - Pure Technologies Ltd. ("Pure" or the
"Company") (TSX: PUR) is pleased to announce that its wholly-owned
subsidiary, Pure Technologies U.S. Inc. ("Pure U.S."), has been awarded
a significant engineering contract by the Howard County (Maryland)
Bureau of Public Works. For more than 10 years, Pure has been working
with this customer on projects related to the inspection and management
of large-diameter concrete water pipes. The new work involves condition
assessment, renewal, and management strategies for small-diameter,
metallic water pipelines (principally ductile iron between 6 and 16
inches in diameter) within the project area. The new work, utilizing an
array of assessment technologies and engineering services, is expected
to commence in late 2013 and include revenues of up to USD$1.7 million
over a period of approximately 18 to 24 months.
"This announcement is significant for Pure in a number of ways," said
Mark Holley, president of Pure U.S. "It confirms the strong growth
potential for the Company using asset management strategies for
small-diameter metallic pipelines through our Assess and Address™
strategy. This approach involves identifying localized deterioration
and selectively repairing pipe sections only when necessary through our
technology and engineering solutions. Additionally, this new work
strongly supports the market trend by proactive utilities such as
Howard County that opt for a cost effective approach to pipeline
management and rehabilitation. Finally, this award strengthens our
reputation as a trusted partner to help manage other pipe types that
make up the majority of a water distribution system."
About Pure Technologies Ltd.
Pure Technologies Ltd. is an international asset management technology
and services company which has developed patented technologies for
inspection, monitoring and management of critical infrastructure around
the world. Pure's business model incorporates four distinct but
complementary business streams:
Sales of proprietary monitoring technologies for pipelines, bridges and
structures (SoundPrint®, SoundPrint® AFO);
Recurring revenue from data analysis and site maintenance for these technologies, and from
Premium technical services including pipeline inspection, leak detection and condition assessment (PureEM™, SmartBall®, Sahara®, PipeDiver®, PureRobotics™; PureMFL™;
Specialized engineering services in areas related to asset management, primarily in the area of pipeline
condition assessment for water and wastewater infrastructure (Openaka
Corp., Price Brothers UK Ltd, and Jason Consultants).
This release contains forward-looking statements. Forward-looking
statements, without limitation, may contain the words "believes",
"expects", "anticipates", "estimates", "intends", "plans", or similar
expressions. Forward-looking statements are not guarantees of future
performance. They involve risks, uncertainties and assumptions and the
Company's actual results could differ materially from those
anticipated. Forward-looking statements are based on the opinions and
estimates of Management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements. In the context of any
forward-looking information please refer to risk factors detailed in,
as well as other information contained in, the Company's filings with
Securities Regulators (www.sedar.com).
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"The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release"
SOURCE: Pure Technologies Ltd.
For further information:
To find out more about Pure Technologies Ltd. (TSX: PUR), visit our website at www.puretechltd.com. Or contact James E. Paulson, Chairman, Karen Keebler, Chief Financial Officer or Paul Moon, Investor Relations at (403) 266-6794 or e-mail to email@example.com.