PURE TECHNOLOGIES ANNOUNCES 12 MONTH CONTRACT EXTENSION
28 January 2011 - 8:00AM
PR Newswire (Canada)
CALGARY, Jan. 27 /CNW/ -- CALGARY, Jan. 27 /CNW/ - Pure
Technologies Ltd., ("Pure") (TSX-V: PUR) announced today that
Maynilad Water Services Inc. ("Maynilad") of the Philippines has
extended a significant contract with Pure's wholly-owned
subsidiary, the Pressure Pipe Inspection Company (PPIC) for the use
of Sahara(®) leak detection services. Maynilad is the water
and wastewater services provider for 17 cities and municipalities
that comprise the West Zone of the greater Metro Manila area.
Maynilad operates a pipeline network that runs for more than 6,000
kilometers. The initial contract between PPIC and Maynilad was
signed in 2009 as part of a strategic water loss management program
aimed at reducing non-revenue water loss. Under this contract,
Maynilad engineers were trained on Sahara technology so they can
operate the equipment in the West Zone concession. Since the
program began, Sahara has helped Maynilad reduce its non-revenue
water loss by detecting over 160 leak locations. Sahara has also
located unknown and illegal connections and pipeline
features. Advantages of using Sahara include its ability to
inspect long distances of aging water mains while the mains are in
service; Maynilad has therefore been able to increase leak
detection and video inspection efforts without disrupting water
delivery services to its customers. Before DMCI-MPIC Water
Company, Inc. (DMWCI), a joint venture between Metro Pacific
Investments Corporation (MPIC) and DMCI Holdings, Inc. (DMCIHI)
took control of Maynilad in 2007, the non-revenue water level in
the West Zone was at a high 67%. As of year-end 2010,
non-revenue water in Maynilad's concession area is down to
51%. Only three years under new management, Maynilad was able
to drive down the West Zone's system loss level to the lowest in
its history. This contract extension demonstrates Pure's
success in securing new, renewed, and extended contracts with
former clients of PPIC. With this contract extension and as a
result of the acquisition of PPIC less than six months ago, Pure
has announced several contract and award notices totaling
approximately $12.5 million. 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. Pure's business model incorporates four
distinct but complementary business streams: -- Sales of
proprietary monitoring technologies for pipelines, bridges and
structures (SoundPrint®, SoundPrint® AFO); -- Recurring revenue
from data analysis and site maintenance for these technologies, and
from technology licensing; -- Premium technical services including
inspection, leak detection and condition assessment (P-Wave®,
SmartBall®, Sahara®, PipeDiver™, PureRobotics™); -- Specialized
engineering services in areas related to asset management,
primarily in the area of pipeline condition assessment for water
and wastewater infrastructure (Openaka Corp., Price Brothers UK
Ltd, and Jason Consultants). Forward-Looking Statements This
release contains forward-looking statements. Forward-looking
statements, without limitation, may contain the words "believes",
"expects", "anticipates", "estimates", "intends", "plans", or
similar expressions. Forward-looking statements are not
guarantees of future performance. They involve risks,
uncertainties and assumptions and the Company's actual results
could differ materially from those anticipated.
Forward-looking statements are based on the opinions and estimates
of Management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. In the
context of any forward-looking information please refer to risk
factors detailed in, as well as other information contained in, the
Company's filings with Securities Regulators (www.sedar.com). ®
Registered Trademarks, property of Pure Technologies Ltd. "The TSX
Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release" To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/January2011/27/c5594.html
pTo find out more about Pure Technologies Ltd. (TSX-V: PUR), visit
our website at a
href="http://www.puretechnologiesltd.com/"www.puretechnologiesltd.com/a.
Or contact James E. Paulson, Chairman or Karen Keebler, Chief
Financial Officer at (403) 266-6794 or e-mail to a
href="mailto:info@puretechnologiesltd.com"info@puretechnologiesltd.com/a/p
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