GUELPH, ON–(Marketwired – March 29, 2016) – Dr. Gene Shelp, President and CEO of ENPAR Technologies Inc. (TSX VENTURE: ENP) (“ENPAR” or “the Company”), is very pleased to announce that the Company has granted CHEMSBRO of the Kingdom of Saudi Arabia (KSA) an exclusive agency agreement for the Gulf Cooperation Council (GCC) countries and other … Continued
GUELPH, ON–(Marketwired – March 29, 2016) – Dr. Gene Shelp, President and CEO of ENPAR Technologies Inc. (TSX VENTURE: ENP) (“ENPAR” or “the Company”), is very pleased to announce that the Company has granted CHEMSBRO of the Kingdom of Saudi Arabia (KSA) an exclusive agency agreement for the Gulf Cooperation Council (GCC) countries and other strategic territories in the Middle East. With the recent validation of ENPAR’s water treatment technologies in Saudi Arabia, the partners have developed a strategic business plan specifically tailored for the Middle East.
CHEMSBRO, a member of a large Saudi business group, provides integrated chemical solutions and specialty chemicals for water and wastewater treatment plants, and is a leader in specialty niche industrial sectors. CHEMSBRO has been awarded a three year contract in Riyadh to supply services and specialty chemicals for seven water treatment plants, which in total supply about 30% of the water in the city.
Massive investment in the water and wastewater sector in the KSA is essential in the coming years. Mr. Nizar Kammourie, Managing Director of CHEMSBRO, revealed that industrial and economic development, population growth and the need to treat waste streams are the key factors for increased interest in novel treatment technologies in Saudi Arabia. Mr. Kammourie projected that USD $60 billion is the anticipated investment over the next six years and highlighted the importance of water re-use for many industries. The National Water Company plans to increase the re-use of water to 30% by the year 2020. Water re-use currently accounts for 1% of the water supply in the KSA.
Mr. Kammourie commented, “As a significant shareholder of ENPAR, CHEMSBRO’s Group is committed to the success of this venture in the Middle East and to the overall success of ENPAR globally. CHEMSBRO has established a dedicated marketing and sales team that is currently focusing on specialty water treatment opportunities in order to establish a market presence in a timely manner. We have been working closely with ENPAR for the past few years in order to gain an intimate knowledge of the strengths and advantages of ENPAR’s novel systems. The partnership is excited about the breadth of market opportunities afforded by the recent commitment of governments and industry to the responsible management of the region’s water resources.
Mr. Kammourie further stated, “The Agency Agreement will unlock lucrative markets for ENPAR products. CHEMSBRO is strategically positioned to provide innovated integrated solutions for industrial and select water treatment applications.”
Dr. Shelp commented, “ENPAR has committed considerable resources over the past few years to identify the right strategic partner in the Middle East. CHESMBRO and its Group bring to the partnership the three key ingredients needed to facilitate success: a stellar reputation as an industry leader in the water sector; the resources needed to execute the strategic marketing and sales plan; and, intimate knowledge of the region and its water treatment needs.”
About ENPAR Technologies Inc.
ENPAR is a “Technology Company” applying its patented and proprietary “Electrochemical Technologies” to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The common shares of the Company trade on Tier ll of the TSX Venture Exchange under the symbol “ENP”.
A Company Specializing in Environmental Protection and Remediation Technologies
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.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause ENPAR Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and “confident” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. ENPAR believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. ENPAR undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.