CALGARY, Aug. 12 /CNW/ - Pure Technologies Ltd., TSX-V: PUR, announced
today that it entered into an agreement in principle to purchase the operating
subsidiaries of Jason Consultants Group Ltd. ("Jason"). Jason is a specialist
consultancy focused on underground infrastructure engineering and technology.
The transaction is expected to close within the next month, subject to the
execution of a sale and purchase agreement. Founded in 1979, Jason provides
its clients with world-class expertise in the inspection, assessment and
rehabilitation of water and wastewater pipelines; trenchless technology; and
related underground infrastructure fields. Jason has been recognized every
year since 2002 as one of the Top 50 Design Firms in this sector by Trenchless
Technology Magazine. More information on Jason's services and capabilities can
be found at www.jasonconsult.com.
Jason has offices in London, Geneva, and Washington D.C. The Principals
of Jason, Dr. Dec Downey, Mr. Robert Morrison and Mr. Thomas Sangster, are
recognized experts in the field of buried infrastructure assessment and
rehabilitation. Dr. Downey is currently Chairman of the International Society
for Trenchless Technology. All of the Principals are committed to contributing
to the future growth of the business with financial, marketing and management
support from Pure. The business will continue to operate as Jason Consultants
Group, and together with Price Brothers (U.K.) Ltd. and Openaka Inc., will
form part of Pure's specialist engineering services group.
Commenting on this development, Jack Elliott, Pure's President, said:
"The acquisition of Jason Consultants Group is consistent with our
previously-announced strategy of growing our specialist engineering services
business to complement our technology and technical services activities. The
acquisition of Openaka in 2006 helped us to grow our business significantly in
the prestressed pipe sector. However prestressed pipe accounts for only a
small percentage of the total water and wastewater pipeline infrastructure in
North America, and we expect that Jason will help us to access the broader
market for inspection and assessment of pipelines constructed from ferrous and
Jason is particularly strong in the wastewater sector, an area where Pure
has had limited exposure but where we see tremendous opportunities.
Furthermore, we believe that Jason's international reputation and activities
will help to generate opportunities for our inspection and monitoring
technologies in overseas markets."
Tom Sangster, Principal of Jason Consultants, said: "Jason Consultants
has worked successfully alongside Pure in several inspection and assessment
projects and this acquisition will enable us to strengthen our co-operation
and to pursue growth more aggressively. Our strengths complement those of Pure
and Openaka and we look forward to seizing the opportunities that we can
About Pure Technologies Ltd.
Pure Technologies Ltd. is an international technology and services
company which has developed patented technologies for inspection, monitoring
and management of critical infrastructure around the world. Pure operates from
its headquarters in Calgary, Canada and through subsidiaries in Maryland, New
Jersey, and the UK. Pure's proprietary product portfolio includes
SoundPrint(R), a continuous acoustic structural monitoring system for
buildings, bridges and structures; SoundPrint(R) AFO, a fiber-optic
distributed acoustic sensing system for monitoring and surveillance of
pipelines; and SmartBall(R), a revolutionary new leak detection technology for
water, wastewater and hydrocarbon pipelines.
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
(R) Registered Trademarks, property of Pure Technologies Ltd.
"The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release"
For further information:
For further information: To find out more about Pure Technologies Ltd.
(TSX-V: PUR), visit our website at www.puretechnologiesltd.com. Or contact
James E. Paulson, Chairman or Karen Keebler, Chief Financial Officer at (403)
266-6794 or e-mail to: firstname.lastname@example.org