EKO/TSX Venture Exchange
MONTREAL, Jan. 10 /CNW Telbec/ - Noveko International Inc. ("Noveko" or
the "Company") announces that it has signed a letter of intent to acquire
Purer Life, a Taiwan-based company specializing in the manufacture of
filtration fabric. The transaction could close by the end of April 2008
subject to due diligence and the necessary approvals, specifically the
approval of the TSX Venture Exchange. Noveko would then become the owner of
all the business, assets and intellectual property rights held by Purer Life.
Purer Life already does business with the subsidiary of Noveko, Noveko
Inc., as supplier of the filtration fabric used to manufacture Noveko(TM)
antimicrobial air filters. Purer Life also has other major clients
specializing in the air filtration industry.
Purer Life is majority owned by its two founders and officers - Mr.
Hung-Jen Chen and Ms. Kai-Li Huang - who have developed an original patented
weaving technology for the manufacture of a three-dimensional fibre featuring
a filtration effectiveness, solidity and durability that make it a unique base
material. Should the transaction close, the two current officers are expected
to continue holding key positions within Purer Life.
"We are particularly pleased to sign this agreement with Purer Life aimed
at integrating this designer and manufacturer into the Noveko Group. Combining
its weaving technology with our antimicrobial filtration technology gives us
with a winning protective formula that is unique worldwide. Upon the closing
of the transaction, we plan to relocate the facility to its vicinity in order
to expand its production capacity. Our goal is first to fully meet our own
demand for raw materials, but also to tap the great potential offered by Purer
Life, which is currently involved in negotiations with third parties for
various applications of its technology. With its new technology, Purer Life
achieved sales of approximately $2 million in 2007, which are likely to
undergo strong growth in the Noveko Group given the unmatched efficiency of
our filtration system and the new potential applications currently being
developed by Purer Life," indicated André Leroux, Chairman of the Board and
Chief Executive Officer of Noveko International Inc.
"This strategic acquisition will enable us to further assure and control
the production of our antimicrobial air filters and to penetrate key markets.
As announced in December 2007, Noveko(TM) antimicrobial air filters fully
proved their effectiveness in a complete series of tests conducted by the
Faculty of Veterinary Medicine of the Université de Montréal and the Centre de
développement du Porc du Québec. The results of these tests conducted under
extreme conditions paved the way for our development of the air filter market,
not only for breeding farms but also for humans, especially for hospitals,
other healthcare institutions, public buildings and all types of residences,"
added Alain Bolduc, President and Chief Operating Officer of Noveko.
The global demand for air filters, for humans alone, is estimated at
US$44.5 billion for 2009 and should rise to US$58 billion by 2014, whereas it
stood at over US$34 billion in 2004, according to the "Freedonia's World
Filters to 2009" study published in March 2006 by Freedonia Group, Inc.
Noveko International Inc. currently has four subsidiaries: S.A.S. ECM,
Noveko Inc., Laboratoire SyMa Inc. ("SyMa") and Bolduc Leroux Inc. ("BLI").
ECM specializes in the design and marketing of portable real-time ultrasound
scanners for use in veterinary and human medicine. Noveko Inc. develops the
Company's biomedical and environmental business, specifically its patented
antimicrobial filtration technology and derivative products (Noveko(TM)
antimicrobial face masks and air filters). SyMa specializes in the manufacture
of sanitizers, more specifically the antimicrobial products (for hands, feet
and surfaces) sold under the Azuro(TM) trademark. For its part, BLI
specializes in the custom processing and distribution of steel products based
on client specifications and designs. It has also developed and markets a line
of downdraft particle extraction tables for various markets. Operating since
September 2002, the Company was listed on the TSX Venture Exchange on
February 3, 2004.
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 TSX Venture 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; Marie-Claude
Leroux, Morin Public Relations, (514) 289-8688, ext. 224, Cell: (514)