MONTRÉAL, Dec. 22, 2014 /CNW Telbec/ - Ovivo Inc. announces the sale of the Van der Molen division, located in Germany, to Radial Capital Partners.
"After the sale of the Pulp & Paper Division completed last month, this transaction is another step undertaken to reshape and focus our portfolio on technological solutions, services and equipment in the fast growing water treatment industry", said Marc Barbeau, President and Chief Executive Officer of Ovivo Inc. "Also, we wanted to ensure a long-term future for all employees of Van der Molen. I am confident that the new owner will manage to seize new market opportunities that will enable Van der Molen to grow" added Mr. Barbeau.
About Ovivo Inc.
Ovivo Inc. is a global company dedicated to water and wastewater treatment. It is offering comprehensive technological solutions, as well as services and equipment, tailored to specific client needs. Ovivo Inc.'s business units operate in 18 countries and have approximately 900 employees. Ovivo Inc. is a public company whose shares trade on the Toronto Stock Exchange under the ticker symbols OVI.A and OVI.B.
About Radial Capital Partners
Radial Capital Partners (RCP) is a Munich based investor focussing on mid-sized companies in special situations, such as corporate spin-offs, corporate carve-outs and unresolved successions with potential for development and growth. RCP is a long-term investor aiming for the sustainable development of its investments applying the Principles of Responsible Investment (PRI). It was founded and is managed by Ulrich Radlmayr and Andreas Mayr who have an extensive investment and management track-record.
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 Section 11, "Risks and Uncertainties" in the management's discussion and analysis for the fiscal year ended March 31, 2014 available on SEDAR (www.sedar.com) and the Corporation's website (www.ovivowater.com).
For further information: Marc Barbeau, President and Chief Executive Officer, Tel: + 1 514 284?2224; François Dufresne, Chief Financial Officer, Tel.: + 1 514 842?7236, [email protected]