Seprotech Lands Military Standing Offer Contract: Agreement Worth Up to $6,000,000
16 January 2009 - 12:12AM
Marketwired Canada
Seprotech Systems Inc. (TSX VENTURE:SET), a Canadian Environmental Technology
Company and manufacturer of water and wastewater treatment systems, 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.
The Standing Offer is for an initial two year period estimated at $ 2.5 Million
with an option to extend for an additional three one year periods. The estimated
total value of the five year standing offer is $6,000,000. The final amount
spent in any given year, is at DND's discretion. The amount spent by DND in any
given year will vary 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.
"We are very pleased to have been awarded this Standing Offer Agreement. We have
done this work in the past for DND and this new award demonstrates the high
degree of confidence that DND has in Seprotech," said Martin J. Hauschild,
President & CEO of Seprotech.
"We announced last year, that in response to an expected downturn in capital
spending we would place increased emphasis on plant operations, spare parts and
service," added M. Hauschild. "This work is a key element in that strategy and
we remain committed to our goal to generate 50% of revenues from Operations and
Maintenance (O&M) within two years. Over time, the utility side of our business
will provide revenue consistency while water & wastewater treatment equipment
sales will provide growth. The ability of Seprotech to meet all aspects of its
clients' water and wastewater treatment needs represents a clear competitive
advantage," concluded M. Hauschild.
Seprotech is a provider of pre-engineered water and wastewater treatment plants
to the land development, resource sector and military market place, including
CrystalBlue(TM) membrane-based water recycling systems and the ROTORDISK(R)
wastewater treatment systems.
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.
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