Pure Technologies Acquires Abu Dhabi-based Company

Pure Technologies Ltd., (TSX-V: PUR) announced Jan. 13 that it has entered into an agreement to purchase the business of the Inspection Division of Specialized Technical Services Est., an Abu Dhabi-based company involved in inspection and monitoring of water, wastewater and oil and gas pipelines for up to AED 8.83 million (CAD $2.38 million). The transaction is expected to close within the next month.

Under the terms of the transaction, Pure will acquire ownership of all of the equipment and work in progress of the business, which will be incorporated into the recently-established Abu Dhabi branch office of Pure Technologies. Frank Mueller, formerly Technical Director of STS, will join Pure as director of business development, Middle East, with specific responsibility for the development of the oil and gas pipeline sector. STS has been active in the pipeline inspection business in the Gulf Cooperation Council (GCC) countries for over twenty years. Assets include a range of inspection and monitoring equipment, including a fleet of premium CCTV units. The business generated approximately AED 6 million in revenue in 2010.

Commenting on the transaction, Pure president Jack Elliott said:  “This is an important step in the development of our business in the GCC region. We have been working with STS over the past two years introducing our products and services to the GCC region. Mr. Mueller has extensive experience in robotics and in-line inspection and is highly respected by the client base in the region. The availability of experienced and skilled STS technical staff will allow us to exploit opportunities for our combined technologies and services in the market without placing excessive demands on our existing operational resources.”

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.