Argex works towards realizing key advantages with early planning and adoption Technology helps alleviate environmental and safety concerns
MONTREAL, Sep. 8, 2015 /CNW Telbec/ - Argex Titanium Inc. (TSX: RGX) announced today it is engaging in pro-active measures towards setting its Health, Safety and Environmental Policy (HSE) as well as its code of conduct and ethics.
"Argex believes it is necessary to start the process of integrating all actions and conduct in coordination with the best practices of the industry," says Roy Bonnell, CEO of Argex.
Some of the main attributes of Argex technology relate to the capacity of reducing waste, environmental hazards and the carbon footprint. Within the $17 billion titanium dioxide manufacturing industry, Argex technology takes landfill-bound waste and converts it into highly sellable FeCl3 by-product as part of its TiO2 production process. In addition, when applied in chlorine-based TiO2 production, there is no chlorine gas stage.
"As these represent strong advantages of using our technology, we need to start planning immediately for a comprehensive approach for HSE that is integrated in our code of conduct and complies with the highest environmental and industry standards," says Bonnell.
Argex, as a member of the Chemistry Industry Association of Canada (CIAC), has committed to adhere to the stringent codes of conduct established by the Association's Responsible Care® initiative, now practiced in more than 60 countries.
Responsible Care® includes codes of production, stewardship and accountability. It includes an extensive plant certification program, through a public verification process, that invites industry experts, public advocates and representatives from local communities to assess first-hand whether companies are living up to their commitments.
"We are happy to work with Argex to help them reach their business and sustainability goals and to assist them through the approvals process. Responsible Care® was founded on the principles of member commitment. A better outcome can be reached when organizations pledge early in the process," says Bob Masterson, Vice President, Responsible Care® at CIAC.
About Argex Titanium
Argex Titanium Inc. has developed an advanced chemical process for the volume production of high grade titanium dioxide (TiO2) for use in high quality paint, plastics, cosmetics and other applications. The Corporation's unique proprietary process takes relatively inexpensive and plentiful source material from a variety of potential vendors, and produces TiO2 along with other valuable by-products. Argex's process provides a significant cost and environmental advantage over current legacy TiO2 production methods. The Corporation's primary near term goal is to advance toward a 50,000 tons per annum production module as a first step in its goal to transform the 5.7 million tons per annum TiO2 industry.
About the Chemistry Industry Association of Canada
The Chemistry Industry Association of Canada is the voice of Canada's chemistry industry representing the interests of Canada's leading chemistry companies – from petrochemical, inorganic and specialty chemical producers, to bio-based manufacturers and chemistry-related technology and R&D companies. For more information go to www.canadianchemistry.ca
This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of Argex, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" "target" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Argex will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Argex's control. These risks, uncertainties and assumptions include, but are not limited to, the Corporation's anticipated use of proceeds as well as those described under "Risk Factors" in Argex's Annual Information Form for the fiscal year ended December 31, 2014, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. Argex does not intend, nor does Argex undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
SOURCE Argex Titanium Inc.
For further information: Corporation: Serge Depatie, VP Communications and Investor Relations and Interim CFO, Argex Titanium Inc., 514-843-5959 x 233, [email protected]; Investor Relations: The Howard Group, Dave Burwell, Tel 888-221-0915, [email protected]