MONTREAL, Oct. 17, 2014 /CNW Telbec/ - Argex Titanium Inc. (TSX: RGX), an emerging producer of high-grade titanium dioxide (TiO2) used as white pigment in paint, plastic, paper, cosmetics and other applications, has won the ICIS 2014 Award for Best Innovation by a Small or Medium-Sized Enterprise (SME) in recognition of its novel method of producing titanium dioxide pigment.
With this award, the ICIS judging panel of leading industry experts identifies companies which have made significant steps forward in technological and business innovation, with tangible results emerging during 2013 and the early part of 2014.
Argex has developed an advanced chemical process for the volume production of titanium dioxide for use in paint, plastics, cosmetics and other applications. The company's unique technology turns relatively inexpensive and plentiful source material into high-grade TiO2 along with other valuable by-products. The Argex process provides a substantial cost and environmental advantage over legacy TiO2 production methods.
"This prestigious award honors the hard work and dedication of our research and development teams," said Roy Bonnell, president and CEO of Argex Titanium. "It validates the disruptive nature of our technology and affirms the strong progress we've made over the last year to bring this valuable product to market in collaboration with some of the largest players in the industry."
The ICIS awards address a total of five categories: Innovation with Best Environmental Benefit, Best Product Innovation, Best Innovation for Sustainability, Best Innovation by an SME, and Best Business Innovation. ICIS is a leading global provider of news and information for the chemical and energy sectors, and the awards are sponsored by Roland Berger Strategy Consultants and U.S. Chemicals.
"This year the ICIS Innovation Awards attracted a near-record number of entries, demonstrating the wide range of outstanding innovation across the chemical sector," noted John Baker, ICIS editor and awards organizer. "Our winners reveal that not only is innovation alive and well in the chemical industry, but it can create amazing benefits for both consumers and the environment."
Further information about the 2014 ICIS Innovation Awards be found at www.icis.com/awards.
ICIS, the trusted information provider for the chemical and energy industries, is part of Reed Business Information (RBI), a division of Reed Business and a member of Reed Elsevier plc (525), (UK:REL) (US:RUK) (NL:45443), the world's leading publisher and information provider. ICIS aims is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. ICIS has more than 30 years of experience providing pricing information, news, analysis and consultancy to buyers, sellers and analysts. Its global staff of more than 800 is based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. For more information about ICIS, visit www.icis.com
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 company'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.
Important Cautions Regarding Forward-Looking Statements
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" 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, those described under "Risk Factors" in Argex's Annual Information Form for the fiscal year ended December 31, 2013, 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.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Argex Titanium Inc.
For further information: Company Contact: Sophy Cesar, Manager, Investor Relations, Corporate Communications, Argex Titanium Inc., 514-843-5959 Ext. 128, [email protected]; U.S. Investor Relations Contact: Chris Tyson Liolios, Group Inc., Tel 949-574-3860, [email protected]