CALGARY, March 15 /CNW/ - Pure Technologies Ltd., TSX-V: PUR: announced
today that the Management & Implementation Authority of the Great Man-Made
River Project, Libya ("GMRA") has agreed to enter into a contract with Pure,
subject to completion of the normal contract review process and final
documentation, for the supply of its SoundPrint(R) AFO technology to assist
the Authority in the management of its prestressed concrete pipe conveyance
system. The system will be installed and operated by GMRA personnel with
training and technical support provided by Pure. The value of the contract,
including associated on-site after-sales service and support over a three-year
period, is expected to be approximately $14 million. Supply and installation
of the system is expected to commence in 2007.
The decision to award the contract follows a successful demonstration of
the technology on a pilot project completed in August of last year. Pure has
been working with GMRA continuously since 2000, providing SoundPrint(R)
acoustic monitoring equipment and services, P-Wave(R) electromagnetic
inspection services and high-speed digital communication networks.
SoundPrint(R) AFO is a fibre-optic based distributed acoustic sensing
system which provides continuous structural monitoring of prestressed concrete
pipelines. The system was introduced by Pure in 2005 to complement its
conventional SoundPrint(R) piezoelectric sensing technology. The system is
currently being used by a number of water agencies in North America.
About Pure Technologies Ltd.
Pure Technologies is an international technology company which has
developed patented and proprietary technologies for management and
surveillance of critical infrastructure around the world. Applications for
these technologies include water and wastewater pipelines, bridges, oil and
gas pipelines, transportation infrastructure, nuclear power plants, high-rise
buildings, parking and other critical structures. Pure provides its
technologies from its headquarters in Calgary, Canada and subsidiaries in
Maryland, Arizona, and New Jersey.
This release contains forward-looking statements. Forward-looking
statements, without limitation, may contain the words "believes", "expects",
"anticipates", "estimates", "intends", "plans", or similar expressions.
Forward-looking statements are not guarantees of future performance. They
involve risks, uncertainties and assumptions and the Company's actual results
could differ materially from those anticipated. Forward-looking statements are
based on the opinions and estimates of Management at the date the statements
are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. In the context of any
forward-looking information please refer to risk factors detailed in, as well
as other information contained in, the Company's filings with Securities
(R) Registered Trademarks, property of Pure Technologies Ltd.
(TM) Trademark, property of Pure Technologies Ltd.
"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: To find out more about Pure Technologies Ltd.
(TSX-V: PUR), visit our website at www.puretechnologiesltd.com. Or contact
James E. Paulson, Chairman or Karen Keebler, Chief Financial Officer at (403)
266-6794 or e-mail to email@example.com