PURCHASE OF $60,000 PILOT UNIT
GUELPH, ON, May 31 /CNW/ - Dr. Gene Shelp, President and CEO of ENPAR Technologies Inc. ("ENPAR"), is very pleased to announce that ENPAR has entered into a Memorandum of Understanding with JA Construction Co., Ltd. (JACON) of the Republic of Korea to develop a domestic market for ENPAR's state-of-the-art water treatment technologies. ENPAR expects to deliver the pilot unit within the next 3 months and anticipates future sales with successful testing.
JACON is a private general construction firm specializing in residential, commercial, industrial and municipal engineering projects with annual revenue of US $85,000,000. Since 1995, it has developed and successfully introduced to the market several proven water treatment technologies related to the treatment of sewage, landfill leachate and non-point source pollution. Their products will be combined with ENPAR's water treatment technologies to produce novel integrated systems that provide more comprehensive solutions.
Dr. Shelp commented, "ENPAR's entry into the Republic of Korea is central to efforts to penetrate the emerging water treatment markets in Asia. Market entrance and acceptance should be achievable through business relationships with long-established, highly respected firms, each with ready access to an existing broad client base and distribution channels. JACON believes that the ENPAR array of products is well suited to the Korean water treatment market which is estimated at US $2-3 billion annually. We are extremely excited about the opportunity to provide technologies which can both complement and replace aging and, in some cases, inadequate existing water treatment infrastructure."
About ENPAR Technologies Inc.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The common shares trade on Tier ll of the TSX Venture Exchange under the symbol "ENP".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause ENPAR Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. ENPAR believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. ENPAR undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE ENPAR TECHNOLOGIES INC.
For further information: For further information: Gene S. Shelp, Ph.D., P.Geo., President and CEO, Tel: (519) 836-6155, Fax: (519) 836-5683, E-mail: email@example.com, Web Site: www.enpar-tech.com