MONTREAL, April 24, 2015 /CNW Telbec/ - Ovivo Inc. ("Ovivo") has been awarded a large contract to design and supply containerised modular fresh water makers for an offshore oil and gas production platform located in the North Pacific Ocean. The contract value is over $9 million Canadian and includes a custom designed production plant, using reverse osmosis membrane process. The equipment is scheduled for delivery in 2016.
The contract includes Ovivo's fresh water maker, through its heritage brand Caird & Rayner Clark. The units will produce potable water and turbine wash water directly from raw seawater at a temperature often below zero degrees Celsius. Life support systems, such as the fresh water maker, are necessary on offshore platform since it is difficult for supply boats to bring water to the platform in winter.
"This high specification engineering contract demonstrates that Ovivo possesses the technologies and equipment to meet the highest and most rigorous international requirements," said Marc Barbeau, President and Chief Executive Officer. "We booked large orders recently in the energy market thanks to our global platform which allows us to support our clients wherever their projects are located across the globe," added Mr. Barbeau.
About Ovivo Inc.
Ovivo Inc. is a global company dedicated to water and wastewater treatment. It offers comprehensive technological solutions, as well as services and equipment tailored to specific client needs. Ovivo operates in over 15 countries with more than 800 employees. Ovivo is a public company whose shares trade on the Toronto Stock Exchange under the ticker symbols OVI.A and OVI.B. www.ovivowater.com
Notice regarding forward-looking statements
Certain statements in this press release and other public communications regarding management's objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements are recognized by the use of terms such as "forecast," "project," "could," "plan," "aim," "estimate" and other similar terms, possibly used in the future or conditional, particularly with regard to certain assumptions. The management of Ovivo would like to point out that forward looking statements involve a number of uncertainties and known and unknown risks such that the actual and future results of Ovivo could differ considerably from those stated. There can be no assurance as to the materialization of the results, performance or achievements as expressed in or underlying the forward-looking statements. The forward-looking statements included in this press release were made as of the date hereof, and unless required to do so pursuant to applicable securities legislation, management of Ovivo assumes no obligation to update them.
Information about the risk factors to which Ovivo Inc. is exposed is provided under sections entitled "Risks and Uncertainties" in the management's discussion and analysis for the fiscal year ended March 31, 2014 and for the third quarter ended December 31, 2014, available on SEDAR (www.sedar.com) and Ovivo's website (www.ovivowater.com).
SOURCE Ovivo Inc.
For further information: Marc Barbeau, President and Chief Executive Officer, Tel: + 1 514 284-2224; Pierre-Marc Sarrazin, Director, Corporate Finance and Treasury, Tel.: 514 284-7208, [email protected]