MONTREAL, May 12, 2016 /CNW Telbec/ - Ovivo Inc. ("Ovivo") was awarded two major contracts for a combined value of over $21 million Canadian in its Energy and Electronics segments.
A contract to supply two complete intake screening plants for a pumping station on the East Coast of the United States was awarded to Ovivo's Energy group. Through its heritage brand Brackett Green, Ovivo will supply equipment which complies with the requirements of the Environmental Protection Agency Clean Water Act 316 (b) standard of 0.5 foot per second velocity through the water intake traveling screens. Ovivo will also provide a fish return system to allow fish to be collected and safely returned back to the water source. The delivery of the project is scheduled for the second quarter of fiscal 2018.
The contract awarded in the Electronics group is to design and supply an ultrapure water system for a leading TFT/LCD manufacturer in China. The system will use Ovivo's innovative technical processes and products to reach ultrapure water requirements, as well as to reduce chemical and water consumption. The system will be modular and will allow for future expansion. The delivery of the system is scheduled for the fourth quarter of fiscal 2017.
"We are delighted to be selected to execute these large orders in two key geographical markets for Ovivo," said Marc Barbeau, President and Chief Executive Officer. "Our advanced technological water treatment solutions and our international platform provide us with clear competitive advantages to support our global clients with their projects across the world," added Mr. Barbeau.
Ovivo is a global provider of equipment, technology and systems producing among the purest water and treating some of the most challenging wastewater in the industry. Ovivo is a powerful global brand with renowned trademarks, possessing more than 150 years of expertise and references in water treatment, supported by its proprietary products, advanced technologies and extensive system integration knowhow. Ovivo delivers conventional to highly technological water treatment solutions for the industrial and municipal markets, and leverages its large installed base of equipment around the world to offer parts and services to its customers. Ovivo is dedicated to innovation in an industry that is in constant evolution and offers water treatment solutions that are cost-effective, energy-efficient and environmentally sustainable.
Ovivo operates an integrated global platform in over 15 countries, with 800 employees that are worldwide experts in water treatment. Ovivo is a public company whose shares trade on the Toronto Stock Exchange under the ticker symbols OVI.A and OVI.B. For more information, visit our website at 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, 2015, 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: + 1 514 284‐4238 ; Pierre-Marc Sarrazin, Director, Corporate Finance and Treasury, Tel.: 514 284-7208, [email protected]