CALGARY, June 25, 2012 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) today announced plans for a major expansion of its Engineering Services business through the establishment of up to five new regional offices in the United States, including San Diego, CA and St. Louis, MO, to complement an existing presence in Columbia, MD, Branchburg, NJ, Miami, FL, Dallas, TX and Toronto, ON in Canada.
Commenting on this development, Mike Higgins, Vice President responsible for Pure Engineering Services said:
"The decision to expand our regional presence in the US is a consequence of growing interest by water and wastewater agencies in Pure's unique value proposition, which combines specialized pipeline engineering expertise with leading-edge inspection, condition assessment and monitoring technologies. Agencies throughout North America are faced with the challenge of maintaining and renewing critical pipeline infrastructure at a time when capital budgets are severely constrained. They are looking for innovative solutions, and Pure's "Assess & Address™" approach to asset management is attracting increasing interest within the industry as a cost-effective strategy for prolonging the life of these assets."
Jack Elliott, Pure's President, said:
"Our business in North America has been growing at an average of 40% over the past few years as agencies become more aware of our unique capabilities. We are currently engaged in multi-year pipeline management programs with Washington Suburban Sanitary Commission and Miami Dade Water & Sewer Department, and we anticipate that there will be a continuing and growing demand for our services and technologies throughout North America. We are putting the resources in place to capture this demand and to service our growing client base."
Pure delivers its engineering services through its Openaka Inc. and Jason Consultants divisions. Openaka is a world leader in forensic investigation, assessment and structural analysis of prestressed concrete and metallic pipelines and Jason Consultants specializes in condition assessment of wastewater pipelines.
Assess and Address refers to the Company's water and wastewater pipeline management solution involving the evaluation of condition assessment data, generated by its proprietary and patented diagnostics and monitoring technologies, which is provided to clients for use within a cost effective asset management program.
About Pure Technologies Ltd.
Pure Technologies Ltd. is an international asset management technology and services company which has developed patented technologies for inspection, monitoring and management of critical infrastructure around the world. Pure's business model incorporates four distinct but complementary business streams:
- Sales of proprietary monitoring technologies for pipelines, bridges and structures (SoundPrint®, SoundPrint® AFO);
- Recurring revenue from data analysis and site maintenance for these technologies, and from technology licensing;
- Premium technical services including pipeline inspection, leak detection and condition assessment (P-Wave®, SmartBall®, Sahara®, PipeDiver®, PureRobotics™);
- Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure (Openaka Corp., Price Brothers UK Ltd, and Jason Consultants).
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words "believes", "expects", "anticipates", "estimates", "intends", "plans", or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and the Company's actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of Management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in, the Company's filings with Securities Regulators (www.sedar.com).
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For further information:
To find out more about Pure Technologies Ltd. (TSX: PUR), visit our website at www.puretechltd.com. Or contact James E. Paulson, Chairman, Karen Keebler, Chief Financial Officer or Paul Moon, Investor Relations at (403) 266-6794 or e-mail to [email protected].