Distribution agreement with Perfo Chem (India) Pvt. Ltd - India opens its
markets to Ferrinov, Canadian producer of innovative anticorrosion pigments

MONTREAL, June 15 /CNW Telbec/ - The major technological breakthrough achieved by Ferrinov in the production of anticorrosion pigments continues to open new doors for the Canadian company. After China, India has now opened its markets to Ferrinov pigments, with the signing of an exclusive multi-year agreement with Perfo Chem (India) Pvt. Ltd., a member company of chemical solutions provider S. Amit & Co.

The deal calls for the delivery of 600 tonnes of anticorrosion pigments for the industrial painting sector by the end of the first year of the contract, a quantity that will increase significantly each year.

"We are delighted that our new partner has placed its trust in our company. This additional distribution agreement will certainly enable us to boost production at our plant in Sorel-Tracy, Québec," Ferrinov President Louis Archambault stated.

This is the second distribution agreement reached between Ferrinov and an Asia-based company. In June 2009, the company inked an exclusive five-year pact with Wonder Technology Ltd. for the Chinese market.

China and India, two countries with strong economic growth, make up approximately 35% of the world market for industrial paint pigments, estimated at 200,000 tonnes per year.

"We will need to examine the possibility of building a plant in Asia within a few years to keep up with the huge potential of the Chinese and Indian markets," Mr. Archambault added.

For his part, Amit Mehta, Director of Perfo Chem (India) Pvt. Ltd., said: "We are pleased that Ferrinov has selected our company to distribute its pigments. India's industrial paints manufacturers will be extremely impressed by the benefits of Ferrinov's 'green' pigments. The company's innovative process makes it possible to produce much longer-lasting paints."

Ferrinov's technology breakthrough

Following 10 years of research and development, Ferrinov has perfected anticorrosion pigments that lend themselves to the protection of many types of highly valuable structures and equipment. Following a patented process based on recovery of steel dust, Ferrinov manufactures the most high-performance, economical and ecological anticorrosion pigments available, which, moreover, are compatible with all paint formulas. The quantity of anticorrosion pigments used in a given paint type is generally linked to the value of the assets to be protected.

Taking a proactive environmental stance, Ferrinov has devised a hydrometallurgical pigment manufacturing process that consumes only 15% of the energy used by conventional technologies. As a result, the Ferrinov process produces 4.5 tonnes less greenhouse gases per tonne of pigments compared to pyrometallurgical processes developed more than 100 years ago.

In addition, the fact that the Ferrinov process is based on recovery of steel dust means that large volumes of residue are diverted from specialized landfill sites, consumption of mineral resources is reduced, and mining-waste management problems are avoided.

About Ferrinov

Ferrinov Inc., founded in 1998, has its head office in Montréal and its pigment manufacturing plant in Sorel-Tracy. Ferrinov owns a patented technology for the production of a new type of active anticorrosion pigments. Ferrinov pigments are easy to recognize, with a unique signature, and they are also patented. The company currently employs a dozen people. For more details, visit the company's website at www.ferrinov.com.

About S. Amit & Co.

Perfo Chem (India) Pvt. Ltd. is a member company of the S. Amit & Co. group, a leading provider of chemical solutions founded in India with a long history of over 6 decades. The S. Amit Group markets its chemistry products and services for diverse applications including pharmaceuticals, agrochemicals, polymer and plastics additives, and paints and coatings. The group is forward and backward integrated, offering a full range of services including representation, global & local sourcing, warehousing & distribution, and virtual manufacturing services. For more details, visit the company's website at www.s-amit.com.

SOURCE FERRINOV

For further information: For further information: André Bouthillier, Optimum Public Relations, 514 282-4703, andre.bouthillier@cossette.com

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