MARSULEX ANNOUNCES STRONG THIRD QUARTER 2010 RESULTS

TORONTO, Nov. 3 /CNW/ - Marsulex Inc. (TSX: MLX) today announced strong results for the three and nine months ended September 30, 2010.   All business units reported improvements in quarterly EBITDA, gross profit, and local currency revenue from a year earlier.  These summarized financial results exclude the results for the Stablex business ("Stablex"), which have been recorded as discontinued operations.  The third quarter financial statements and MD&A will be available on SEDAR at www.sedar.com and on the Company's website at www.marsulex.com. 

	Three months ending September 30,			Nine months ending September 30,
(In millions of dollars, except per share amounts)	2010	2009	% chg	2010	2009	% chg
Revenue	$   76.1	$   67.8	12.2%	$  203.2	$  210.1	-3.3%
Gross profit	27.4	21.7	26.3%	76.0	81.8	-7.1%
SG&A^1	5.6	3.4	64.7%	21.0	19.2	9.4%
EBITDA^2	21.8	18.3	19.1%	55.0	62.6	-12.1%
Earnings from continuing operations before income taxes	14.6	11.0	32.7%	32.4	40.4	-19.8%
Net earnings from continuing operations	9.4	7.7	22.1%	21.5	27.5	-21.8%
Earnings per share  from continuing operations- basic	0.28	0.23	21.7%	0.65	0.84	-22.6%

1. Selling, general, administrative, and other costs, including foreign exchange.
2. Earnings before interest, income taxes, depreciation, and amortization.

Commenting on the results, Marsulex President and Chief Executive Officer, Mr. Laurie Tugman said, "All of our businesses performed well.  Inclusive of the Stablex business, EBITDA was the second highest on record surpassed only by the second quarter of 2009.  As the results indicate, we continue to focus on the business with our employees and management teams driving performance."

Quarterly Highlights

• Industrial Services EBITDA was $11.5 million for the quarter, approximately 19% above the third quarter of 2009 on improved margins. 
• Western Markets reported higher EBITDA on increases in volume of sulphur-based products.  Product demand remains robust buoyed by higher demand from pulp customers.
• MET results continued to be strong in the quarter and backlog remains healthy with work progressing on projects announced earlier in 2010. 
• Corporate costs include $0.6 million ($2.2 million for the year to date) related to the strategic review.
• Subsequent to quarter end, the Company announced the closing of the sale of Stablex to US Ecology Inc. for Cdn $80 million. The Company estimates an after tax gain of approximately $17 million subject to normal closing and other adjustments.  Proceeds of the sale have been used to repay outstanding indebtedness under the Company's Senior Secured Term Loan.

Commenting on the Stablex sale, Mr. Tugman said "The sale was a result of the previously announced broad based strategic review.  The overall strategic review is ongoing and no timetable has been set for its completion and there can be no assurances that the process will result in any further transactions."

Marsulex, which is based in Toronto, Ontario, is a leading provider of industrial services, including environmental compliance solutions for air quality control, processing or handling of industrial by-products or waste streams, and is a producer and marketer of sulphur-based industrial chemicals. The Company's services and products are provided to a broad base of industrial customers in a wide range of industries. Website: www.marsulex.com

A conference call with analysts and portfolio managers to review the third quarter 2010 results will be webcast live on www.marsulex.com and www.newswire.ca on Thursday, November 4, 2010 at 10:00 a.m. Eastern Time.

Information in this news release that is not current or historical factual information may constitute forward-looking information, including future-oriented financial information and financial outlooks, within the meaning of securities laws. This information is based on certain assumptions regarding expected growth, results of operations, performance, and business prospects and opportunities (collectively, the "Assumptions"). While the Company considers these Assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Forward-looking information is subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Company currently expects. These risks, uncertainties and other factors include, but are not limited to: the Company's ability to renegotiate contracts; the impact of acquisitions and growth opportunities; the timing and market acceptance of future products; competition in the Company's markets; the Company's reliance on customers; fluctuations in currency and exchange rates; commodity prices or interest rates; the Company's ability to maintain good relations with its employees; changes in the law or regulations regarding the environment or other environmental liabilities; the Company's ability to integrate acquisitions; the Company's ability to protect its intellectual property; and the outcome of a strategic review (collectively, the "Risks"). For more exhaustive information on these Risks you should refer to our Company's filings with the securities regulatory authorities, including the Company's most recently filed annual information form, which is available on SEDAR at www.sedar.com.  Additional information relating to the Company can be found on the SEDAR website.

Actual results may differ materially from what the Company currently expects. Other than as required under securities laws, we do not undertake to update any forward-looking information at any particular time. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.

For further information:

Laurie Tugman	or	William Martin
President and CEO		Chief Financial Officer
Tel: [phone]		Tel: [phone]