MONTREAL, March 19, 2015 /CNW Telbec/ - Ovivo Inc. ("Ovivo") has been awarded a major contract to supply a complete demineralization system for a petrochemical plant in Europe. The system is part of a combined cycle power plant that will have the flexibility to feed electricity into the national power grid, as well as to supply the facility with process steam and electricity. The contract is worth over 11 million Canadian dollars and the equipment is scheduled for delivery in 2016.
"This new contract demonstrates that our global energy platform allows us to support our clients wherever their projects are located across the globe", said Marc Barbeau, President and Chief Executive Officer. "We currently experience an increased level of activities in the Energy market, while we are intensifying our business development efforts in the industries that are generally benefiting from the falling crude oil prices, such as petrochemical projects", 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]