MONTREAL, Nov. 12 /CNW Telbec/ - (All amounts are in Canadian dollars unless otherwise indicated.) Management of GLV Inc. ("GLV" or the "Company"; ticker symbols GLV.A, GLV.B / TSX) is pleased to announce that in the past few weeks, its Water Treatment Group (also known as Eimco Water Technologies or "EWT") has been awarded several large-scale contracts worth a total of $37.5 M, of which $27.0 M in the municipal segment and $10.5 M in the industrial segment. Some of these contracts - which add to numerous smaller-scale orders obtained during the same period - will be finalized by the end of the current fiscal year, but most will be delivered over the next fiscal year.
The great majority of EWT's new contracts in the municipal segment are in the United States (although the group has also landed significant orders in Ireland and Algeria). The largest contract, worth close to $13 M, is for the supply of a new complete wastewater treatment system for a South Carolina city, to be delivered in July 2010. To meet this municipality's needs, EWT's teams based in Salt Lake City (Utah) and Austin (Texas) have joined forces to design a comprehensive solution incorporating several of the Water Treatment Group's top-performing proprietary technologies, including Brackett Green(R) screens, EWT's Carrousel(R) biological nutrient removal system and the Enviroquip(R) PAD(TM)-K aerobic digestion system. "Being granted this major contract clearly demonstrates the strategic advantage of our Water Treatment Group's extensive technological portfolio," said GLV's President and Chief Operating Officer Richard Verreault. The C.O.O. added that this contract, combined with other orders recently awarded to EWT for submerged membrane bioreactor units (MBR), tends to confirm the beginning of a recovery in the U.S. market for new municipal infrastructures, as several projects had been delayed for several months. Meanwhile, EWT is maintaining solid activity in regard to the upgrading of existing municipal infrastructures in the United States, as the federal government's economic stimulus program continues to fuel demand.
Among the contracts landed in the industrial segment, more than $9 M relate to water intake screening technologies. After a temporary first-quarter decline, the Water Treatment Group's revenues and order backlog in this market niche have resumed growth, driven by an increase in the worldwide demand from power producers, seawater desalination companies and refineries. As a result, EWT has been selected to design and install water intake screening systems in China, the United Kingdom and the Republic of Azerbaijan (Caucasus region). The other industrial contracts recently awarded to EWT are with the Australian food and beverage processing industry, another fast-growing industrial niche for the Water Treatment Group.
About GLV Inc.
GLV is a leading global provider of technological solutions used in water treatment, recycling and purification, as well as in pulp and paper production. The Water Treatment Group (also known worldwide as "Eimco Water Technologies") specializes in the design and international marketing of solutions and high-performance, economical and eco-friendly processes for the treatment and recycling of municipal and industrial wastewater and water used in various industrial processes. It also offers water intake screening solutions for power stations, refineries and desalination plants. With its extensive technological portfolio, the group is positioned to provide comprehensive solutions for the filtration, clarification, treatment and purification of water that will either be returned into the environment, or be re-used in various industrial processes or for domestic purposes. The Pulp and Paper Group specializes in the design and global marketing of equipment and systems used in various stages of pulp and paper production, notably chemical pulping, pulp preparation and sheet formation and finishing. This group ranks among the foremost players in its industry and is a recognized leader in rebuilding, upgrading and optimization services for existing equipment, as well as the sale of spare parts. It also stands apart for the superior performance of several of its key products and technologies, notably in terms of energy savings. GLV is present in some 30 countries and has approximately 1,500 employees.
SOURCE GLV Inc.
For further information: For further information: Marc Barbeau, CA, Executive Vice-President and Chief Financial Officer, (514) 284-2224, firstname.lastname@example.org; www.glv.com