TORONTO, Oct. 22 /CNW/ - Dr. Gene Shelp, President and CEO of ENPAR Technologies Inc. ("ENPAR"), is very pleased to announce that ENPAR has entered into a joint venture with a leading design and build engineering firm ("AsiaCo") specializing in industrial and municipal waste water treatment, and a financial resources company ("HKCo"). The joint venture will be responsible for manufacturing and marketing ENPAR's patented and patent pending water treatment technologies in Asia. ENPAR will participate as a minority shareholder holding 40%, with AsiaCo and HKCo holding 49% and 11%, respectively. ENPAR will receive a royalty on total sales ranging from 2 - 4%.
It has been estimated that China will invest more than US$147 billion in the conservation, treatment and recycling of water during the period 2006-2010. China faces severe water pollution and water scarcity problems. In 2006 for example, it generated 53.7 billion cubic meters of wastewater, with municipal wastewater and industrial wastewater accounting for 55% and 45%, respectively. Total wastewater is expected to increase due to rapid urbanization and industrialization, reaching up to 64 billion tons by 2010. Furthermore, only 60 to 65 percent of the water used by Chinese industries is recycled or reused, as compared to 80 to 85 percent in most developed countries.
China, like Canada, possesses around 7% of the Earth's total fresh water supply. However, China's population is 40 times that of Canada, resulting in one of the lowest per capita water supplies in the world. China's annual water deficit is around 40 billion cubic meters, roughly ten times the water demand of a major city like Beijing and causing annual economic losses of more than US$14.5 billion.
Dr. Shelp stated, "China and other Asian countries represent key emerging markets with excellent prospects. These governments have stepped up efforts to improve the regulatory framework for modern wastewater management and plan to invest in advanced treatment facilities that domestic companies are not able to provide. There is a strong focus on nitrogen removal and water recycling, technologies that ENPAR can provide."
About ENPAR Technologies Inc.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of waste water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The common shares trade on Tier ll of the TSX Venture Exchange under the symbol "ENP".
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause ENPAR Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. ENPAR believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. ENPAR undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE ENPAR TECHNOLOGIES INC.
For further information: For further information: Dr. Gene Shelp, President and CEO, Tel: (519) 836-6155, Fax: (519) 836-5683, E-mail: firstname.lastname@example.org, Web Site: www.enpar-tech.com