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OTTAWA, June 24, 2011 /CNW/ --
OTTAWA, June 24, 2011 /CNW/ - Seprotech Systems Incorporated (TSX-V: SET; "Seprotech" or the "Company") is pleased to announce that
the Canadian Department of National Defence ("DND") has selected
Seprotech to support two classes of water purification systems with
Repair and Overhaul Services, Engineering support and Field Service
support.
"We are very pleased to have been awarded this renewal of the Standing
Offer Agreement and to be able to offer the high standard of work
expected by the Canadian military," said Jordan Grant, Chairman and CEO
of Seprotech.
The Standing Offer is for a 2 year period with three 1-year extensions
estimated at $ 2.8 Million per year. The estimated total value of the
five year standing offer is $14,000,000. The final amount spent in any
given year, is at DND's discretion, such amount varying according to
military needs. The standing offer process provides the Canadian Forces
with immediate response and support to their equipment requirements.
Seprotech has been awarded similar Standing Offers from DND in the past
including the equipment in this new Standing Offer.
"This multi-year contract provides the Company with a stable steady
state business on which to build our growth strategy and return the
business to its pre-recession growth trajectory," continued Mr. Grant.
"One component of this strategy is to expand our product offering to
include water treatment systems to our existing customers in the
wastewater treatment sector. The technical knowledge and experience we
gain from this contract in water purification will directly support our
efforts to build our presence in this high growth market."
About Seprotech:
Seprotech is a provider of pre-engineered water and wastewater treatment
solutions to the municipal/land development, resource sector and
military market place, including Reverse Osmosis water purification
systems, ROTORDISK® biological sewage treatment package plants and
CrystalBlue™ membrane-based water recycling systems.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein. Some of the statements in this press
release, including those relating to the Company's strategies and other
statements that are predictive in nature, that depend upon or refer to
future events or conditions, or that include words such as "expects",
"anticipates", "intends", "plans", "believes", "estimates" or similar
expressions, are forward-looking statements within the meaning of
securities laws. Forward-looking statements include, without
limitation, the information concerning possible or assumed future
results of operations of the Company. These statements are not
historical facts but instead represent only the Company's expectations,
estimates and projections regarding future events. The Company does not
undertake any obligation to update or release any revisions to these
forward-looking statements to reflect events or circumstances after the
date of this presentation or to reflect the occurrence of unanticipated
events, except as required by law.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/June2011/24/c9056.html
p Mr. Ian W. Malone, CFO br/ Tel: (613) 523-1641 br/ Fax: (613) 731-0851 /p