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EUO Eurocontrol Technics Group Inc.

0.03
0.00 (0.00%)
13 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Eurocontrol Technics Group Inc. TSXV:EUO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.03 0.02 0.025 0 01:00:00

Eurocontrol Announces New National Fuel Marking Program

13/06/2013 10:00pm

Marketwired Canada


NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES. 

Eurocontrol Technics Group Inc. (TSX VENTURE:EUO) ("Eurocontrol" or the
"Company"), a Canadian public technology company specializing in the
acquisition, development and commercialization of innovative authentication,
verification, certification and energy security technologies, is pleased to
announce, through its wholly owned subsidiary Global Fluids International (GFI)
the addition of a new national fuel marking project awarded to GFI by the
Government of Albania. Eurocontrol signed a definitive agreement with the
Government of Albania for implementing a ten year project for marking and
monitoring all fuels sold and produced in Albania.


The project will cover the marking of all distilled fuels as well as the growing
volume of Albanian exported crude oil. Eurocontrol estimates the annual increase
in fuel tax collections will exceed 150 million Euros per year. Preparations and
implementation of the project will commence promptly. GFI and its consortium
partners will be responsible for the marking, inspecting and reporting to the
Finance Ministry of Albania. 


Speaking on behalf of the Albanian Government, Sali Berisha, the Prime Minister
of Albania stated: "Today we have a list of other draft-laws and decisions. One
of the most important decisions is the one which stipulates the procedure of
fuels marking. This practice, which will be implemented through one of the best
existing technologies, will prevent the abuse with harmful fuels adulteration,
because the marking procedure will trace and find any kind of manipulation that
can be done with fuels. The Prime Minister further commented, "This is a great
achievement."


Bruce Rowlands, Eurocontrol Chairman and CEO stated: "We are very pleased to
have signed this comprehensive agreement with the Government of Albania and look
forward to the positive impact our Petromark(TM) technology will deliver to the
Country and its citizens." He further added, "This contract along with our other
fuel marketing contracts and growing revenue from our Spectrometry division,
Xenemetrix, will add significantly to Eurocontrol's annual revenue."


About Eurocontrol Technics Group Inc.

Eurocontrol through its three wholly owned subsidiaries, Global Fluids
International S.A. ("GFI"), Xenemetrix Inc. ("Xenemetrix") and XwinSys Ltd.
("XwinSys"), is a leading provider and innovator of detection and marking
systems worldwide. GFI and Xenemetrix are global pioneers in developing and
implementing innovative molecular marking systems for the oil industry and
XwinSys is currently a development stage company. GFI's unique and proprietary
liquid authentication system, Petromark(TM), is the world's leading solution for
fully integrated oil marking, mixing and detection. Xenemetrix is a leading
designer, manufacturer and marketer of energy-dispersive x-ray fluorescence
("EDXRF") systems, a technology that is the most accurate and economic method
for determining the chemical composition of many types of materials, including
the analysis of petroleum oils and fuel. XwinSys is currently developing
technology and intellectual property that will combine 2D and 3D image
processing technology from Brossh Inspection Systems Ltd. of Israel with
Xenemetrix's EDXRF technology for application in the semi-conductor
manufacturing process.


For further information on Eurocontrol, please visit the Company's website at
www.eurocontrol.ca.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Eurocontrol Technics Group Inc.
Bruce Rowlands
Chairman and Chief Executive Officer
(416) 361-2808
browlands@eurocontrol.ca.
www.eurocontrol.ca

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