EKO / TSX
MONTREAL, Sept. 30 /CNW Telbec/ - Noveko International Inc. ("Noveko" or
the "Company") is pleased to announce that its Taiwan subsidiary Purer Life
Technology Co., Ltd. ("Purer Life"), the acquisition of which closed on August
1, 2008, has been awarded an initial order to supply the Purer Life
high-performance filters, combined with Noveko's patented antimicrobial
filtration technology, needed to replace the filters used under the cars of
Taiwan High Speed Rail Corporation's high-speed trains for a one-month period.
In connection with this initial order, negotiations are underway for the
supply of all filters for all of the customer's trains for subsequent years -
an order estimated at some CA$3 million yearly.
This promising breakthrough in the railway market for the Purer Life and
Noveko air filtration technologies was achieved following a series of
extensive tests conducted by Taiwan High Speed Rail Corporation under extreme
conditions (speed, rain, dust, humidity, insects, etc.) between January and
May 2008. The tests concluded that besides their outstanding filtration
capacity, Noveko's filters are much more resistant and durable than the
conventional filtration products supplied by a multinational and currently
used by the customer. The Purer Life/Noveko high-performance technology
thereby represents a significant economic advantage as it minimizes
maintenance costs and reduces the downtime needed to replace the filters.
Furthermore, the Company's technologies can block and neutralize 99.99% of
viruses and bacteria without impeding air speed.
Noveko's President and Chief Operating Officer Alain Bolduc, who was
directly involved in the negotiations, underlined the highly-strategic aspect
of this development, which comes less than two months after the acquisition of
Purer Life. "This order once again demonstrates the extensive scope of the
applications covered by our technologies and gives us an entry into a
considerable market, especially in Asia and Europe. In addition, Taiwan High
Speed Rail Corporation has agreed to act as a reference customer for Noveko in
the railway industry."
Noveko International Inc. is a public holding company listed on the
Toronto Stock Exchange. Its subsidiaries specialize in the following fields of
activities: (i) development, manufacturing and selling of portable real-time
ultrasound scanners for veterinary and human medicine, (ii) development,
manufacturing and selling of filtration fabrics, including antimicrobial face
masks and air filters derived from its patented antimicrobial filtration
technology, (iii) development, manufacturing and selling of air quality
systems, (iv) development, manufacturing and selling of sanitizers and
(v) custom processing and distribution of steel products.
The information set forth in this press release includes certain
forward-looking statements. Such statements are based on assumptions exposed
to major risks and uncertainties. Although Noveko deems the expectations
reflected in these forward-looking statements to be reasonable, the Company
cannot provide any guarantee as to the materialization of the expectations
reflected in these forward-looking statements. The Toronto Stock Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy
of this release.
For further information:
For further information: André Leroux, Chairman of the Board and Chief
Executive Officer; Alain Bolduc, President and Chief Operating Officer, Noveko
International Inc., (514) 344-3030; http://www.noveko.com