TSX - V: CNP
SOREL-TRACY, QC, Oct. 25 /CNW Telbec/ - Conporec inc. ("Conporec" or the
"Company") announces today that, after more than a year of negotiations with
its partners and client, it has concluded the main contractual agreements for
the construction of a sorting-composting plant in Mindarie, Australia.
Conporec will design and equip this 100,000-tonne annual capacity plant with
the latest technologies developed by its team.
On November 8, 2006, Conporec announced that it had been awarded the
contract to build and operate a plant for the Mindarie Regional Council, with
financial close planned for December 2006. The project was delayed as a result
of the replacement of one of the original project partners, but the
negotiations that took place over the past months have led to the announcement
of the Project this October 23, 2007 by the Mindarie Regional Council
(http://www.mrc.wa.gov.au/news/resource_recovery/rrf_facility). The work is
expected to begin early in 2008 and last 18 months.
Conporec's technology was selected for its efficiency and high quality,
as part of an international tender process involving the world leaders in this
field. To carry out this project, Conporec will provide design and engineering
services as well as the rights and licenses to use its technology to BioVision
2020 Pty Ltd, a project company set up to design, build, own and operate the
new plant for the next 20 years. The BioVision 2020 partners are SITA
Environmental Solutions (Australian subsidiary of SITA, itself a subsidiary of
SUEZ Environnement) as well as an Australian superannuation fund. For its
services and the use of its rights, Conporec will receive a total compensation
of $4.5M over the next few months.http://ecmisapp:9090/editor/blockedit.HTMNo.
"Now that the discussions with our partners are completed, we can start
this major project. For Conporec and its shareholders, this is a milestone
project, confirming the Company's ability to carry out its ambitious business
plan", stated Mr. Jean Beaudoin, President and CEO, Conporec. "More than ever,
Conporec's technology portfolio represents a proven value in the field of
environmental stewardship", he said.
Conporec inc. develops and operates various patented composting and
sorting technologies for the treatment and recycling of municipal solid waste.
Conporec successfully delivered several sorting-composting plants in Canada,
France and United States and also about thirty composting installations in
Canada. Conporec is a socially responsible organization listed on the TSX
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties or other factors that may cause actual
results, performance or achievements of the company to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements.
The TSX Venture Exchange has not approved the information contained
herein and accepts no responsibility for it, nor the validity of the
For further information:
For further information: Jean Beaudoin, President and CEO, Conporec
inc., (450) 746-9996, (418) 527-9996; Frédéric Bérard, HKDP Communications and
Public Affairs, (514) 395-0375, ext. 230; Source: Conporec inc.,