EKO / TSX
MONTREAL, April 13 /CNW Telbec/ - Noveko International Inc. (TSX: EKO) (the "Company") is pleased to announce the signature of an agreement with Kinkisharyo International, L.L.C. ("Kinkisharyo"), a subsidiary of the Japan-based manufacturer and the largest supplier of low-floor light rail vehicles ("LRVs") in North America. Pursuant to a three-year agreement, Kinkisharyo will lease Noveko(TM) filters to equip the entire fleet of the Hudson-Bergen Light Rail Line in New Jersey.
The Hudson-Bergen Line electrically-powered and air-conditioned vehicles were designed and manufactured by Kinkisharyo, which also performs all LRV maintenance operations under a long term contract. The Hudson-Bergen Line opened to the public in April 2000 and was the first Design-Build-Operate-Maintain (DBMO) transit operation in the United States. It provides transit services linking many communities in New Jersey and, via the Port Authority Trans-Hudson (PATH), connects them to Manhattan in New York City.
"We are thrilled of this agreement, which is the outcome of the conclusive tests conducted on the Hudson-Bergen system for more than four months. The collaboration between the various teams involved in the project allowed for the rapid implementation of our filtration solutions into the full fleet of the light rail line. We are proud to be teaming up with Kinkisharyo, known for its expertise as a provider of environmentally-friendly cost-efficient light rail vehicles. Once again, it showcases the value associated with the distinctive features of our green filtration solutions and paves the way for our further penetration of a vast market," indicated Mr. Simon Labrecque, Vice-President, Filtration, Noveko.
"We were very impressed with the Noveko(TM) filters' performance and useful life, as their filtration capacity was not affected despite more than four months of use without cleaning. This represents a major advantage for us as, until now, we had to replace every two months the traditional filters we previously used. We are always looking for ways to provide cleaner and greener railcars and Noveko(TM) cleanable and recyclable filters met the challenge. Noveko(TM) test filters are still being used on our systems to further demonstrate their longer durability, but we already know that they will allow us to significantly reduce the filtration waste we need to dispose of, as well as the associated costs. From a sustainable development view point, our partnership with Noveko will further reinforce the role of the Hudson-Bergen Light Rail line as a model for transit operations encouraging economic growth in an eco-friendly way," added Mr. William Covino, General Manager, Hudson-Bergen Division.
Kinkisharyo International, L.L.C. is the North American subsidiary of Japan-based Kinki Sharyo Co., Ltd., a publicly listed company on the Osaka and Tokyo Stock Exchanges. Since its foundation in 1920, Kinki Sharyo Co., Ltd. has designed and manufactured more than fifteen thousand electric railcars now used by a large number of transportation agencies worldwide. Kinkisharyo International, L.L.C. is the largest supplier of low-floor light rail vehicles in North America. Its custom-designed LRVs can be found in other major cities of the United States including Boston, Seattle, Dallas, Santa Clara and Phoenix. The group's international activities include various railcar operations in Dubai, Egypt, Hong Kong, Singapore, Philippines and Japan.
Noveko International Inc. offers innovative solutions in the environmental and medical fields worldwide. Through its subsidiaries, the Company specializes primarily in the following business segments: the development, manufacturing and marketing of derivative products from its patented antimicrobial filtration technologies, mainly air filters, surgical masks and respirators, as well as other products with antibacterial properties such as hand sanitizers - and the development, manufacturing and marketing of medical equipment, primarily portable real-time ultrasound scanners for use in human and veterinary medicine.
Certain statements set forth in this press release constitute forward-looking statements. In some cases, these statements are identified by the use of terms such as "may", "could", "might", "intend", "should", "expect", "project", "plan", "believe", "estimate" or other comparable variants. These statements are based on the information available at the time they are written, on assumptions made by management and on the expectations of management, acting in good faith, regarding future events, including those relating to economic conditions, fluctuations in exchange rates and operating expenses, and the absence of unusual events entailing supplementary expenditures. Although management considers these assumptions and expectations reasonable based on the information available at the time they are written, they could prove inaccurate. Forward-looking statements are also subject, by their very nature, to known and unknown risks and uncertainties such as those related to the industry, acquisitions, labor relations, credit, key officers, supply and product liability. The actual results of Noveko International Inc. could differ materially from those indicated or underlying these forward-looking statements. The reader is therefore recommended not to unduly rely on these forward-looking statements. Forward-looking statements do not reflect the potential impact of special items, any business combination or any other transaction that may be announced or occur subsequent to the date hereof. Unless otherwise required under securities laws, the Company does not intend and undertakes no obligation to update or revise the forward-looking statements.
SOURCE NOVEKO INTERNATIONAL INC.
For further information: Chantal Vennat, Director, Investor Relations and Corporate Communications, Noveko International Inc., (514) 875-0606; http://www.noveko.com