Pure Technologies Announces Significant Asia Business Developments
July 27, 2011Pure Technologies Ltd. (TSX: PUR) has announced that it has been awarded a $2.7 million contract to supply its industry-leading pipeline leak detection and condition assessment technology to a major Asian water agency.
The technology delivered under the contract will allow the agency to implement a proactive management and water loss strategy for its critical trunk main system. The contract includes a training component to enable the agency to deploy the technology with its own resources. The contract, which will be completed in the current financial year, will be supported from Pure’s Mississauga Technology Centre and Hong Kong regional office.
Pure also announced that it has signed a Memorandum of Understanding with Maynilad Water Services Inc., Republic of the Philippines, to form a Joint Venture to deliver pipeline inspection services to the water sector in the Philippines and to other selected markets. The signing took place at the Singapore International Water Week, a major regional water conference and exhibition, where Pure has a significant presence as part of the Canadian Pavilion organized by the Canadian Government’s Department of Foreign Affairs and International Trade.
Under the proposed agreement, Pure will be the exclusive provider of trunk main pipeline inspection technologies to the Joint Venture. Pure is already providing Maynilad with leak detection technology and technical support as part of Maynilad’s program to reduce water loss. Since the implementation of the program, Maynilad has achieved a significant reduction in its non-revenue water. Maynilad is an investor-owned utility responsible for supplying water and wastewater services to approximately 7.2 million people the Manila metropolitan area.
“These exciting developments are a direct result of Pure’s investment in developing its international business.” said Pure director of international business David Roy. “We see tremendous long-term growth potential in the Asia region as factors such as growing economic strength, urban population growth and increasing water scarcity all coincide. We are committed to becoming the leading provider of pipeline management solutions in the region through our direct presence, through our Pure Technologies China Ltd. joint venture, and through partnerships with leading industry players, such as Maynilad.”