MONTREAL, April 29 /CNW Telbec/ - (All amounts are in Canadian dollars)
GLV Inc. (TSX: GLV.A, GLV.B) announced today that it has been awarded new major contracts worth close to $39M. Among these contracts, the Water Treatment Group has obtained a $13.5M order from an Australian food processing company for a system that allows reusing up to 3 million litres of process water a day. It has also won two contracts totalling $9.7M for the delivery of water screening systems to Middle East companies operating in the energy and oil and gas sectors.
In addition, the Pulp and Paper Group has received orders totalling $15.5M from North American and European producers. Pursuant to these contracts, the Group will deliver solutions based on GLV's technologies to increase productivity, machine reliability, product quality and new product manufacturing capability.
These contracts add to the numerous smaller-scale orders awarded to both groups over the last few months.
"The orders won since the beginning of the year attest to both groups' ability to meet the diversified needs of a customer base present on five continents," indicated GLV's President and Chief Operating Officer Richard Verreault. "The water treatment industry remains dynamic and our teams are continuing their efforts to develop close business relations with customers in order to provide them with custom-made solutions meeting their expectations in terms of efficiency and operating costs. In the pulp and paper industry, the award of some of the latest contracts confirms the first signs we have been observing since last fall of renewed investment by pulp and paper manufacturers worldwide. Thus, the Pulp and Paper Group will continue to bank on the solidity of its proprietary product line, expertise and global network to take advantage of the business opportunities that should arise as companies resume their investments to upgrade their facilities."
About GLV Inc.
GLV is a leading global provider of technological solutions used in water treatment as well as in pulp and paper production. GLV is present in some 30 countries and has approximately 2,350 employees. GLV is a publicly traded company whose shares are listed on the Toronto Stock Exchange under the symbols GLV.A and GLV.B. It is one of the constituents for the new S&P/TSX Clean Technology Index.
Notice Regarding Forward-Looking Statements
Certain statements set forth in this press release and other communications to the public that describe management's objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of securities legislation. Forward-looking statements concern analysis and other information based on forecast future results and the estimate of amounts that cannot yet be determined. These may be observations concerning, among others, strategies, expectations, planned activities or actions to come. Forward-looking statements are recognized by the use of terms such as "forecast", "project" "could", "plan", "aim", "estimate" and other similar terms, possibly used in the future or conditional, notably in regard to certain assumptions.
GLV's management would like to point out that forward-looking statements involve a number of risks and uncertainties such that GLV Inc.'s actual and future results could differ materially from those indicated. Factors of uncertainty and risk that might result in such differences include trends in the demand for GLV Inc.'s products and services and cost of its raw materials, fluctuations in the value of various currencies, pressures exerted on prices by the competition and general changes in economic conditions. There can be no assurance as to the materialization of the results, performance or achievements as expressed in or underlying the forward-looking statements. Unless required to do so pursuant to applicable securities legislation, management assumes no obligation as to the updating or revision of the forward-looking statements as a result of new information, future events or other changes.
Additional information about the risk factors to which GLV is exposed is provided in the "Risk Management" section of the Management's Report for the interim period ended December 31, 2009, available on SEDAR (www.sedar.com) and the Company's website (www.glv.com).
SOURCE GLV Inc.
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