MONTREAL, April 17, 2013 /CNW Telbec/ - Argex Titanium Inc. (TSXV: RGX) is pleased to announce the establishment of a fully comprehensive Research and Development Centre ("R&D Centre) at its recently announced facility in Salaberry-de-Valleyfield (Valleyfield), the planned site of its first industrial-sized titanium dioxide (TiO2) plant.
"The Argex R&D Centre will drive ongoing innovation as we continue on the pathway to production," stated Enrico Di Cesare, Argex's Vice-President of Technology and Chief Operating Officer, "The close integration of our R&D activities with the development of our industrial scale plant has many operational advantages which we expect will ensure optimal performance at the plant."
With all of its production and R&D operations merged at a single site, Argex expects to achieve significant cost savings and additionally, benefit from the Quebec government's tax credit regime for its research and development initiatives. Furthermore, the centralization of these activities is expected to enhance the protection of the Argex intellectual property as well as that of CTL.
As part of the establishment of the R&D centre, Argex will relocate the operation of its current test facility in Mississauga, Ontario to the Valleyfield location where it will serve as a highly effective training tool for the future operators of the industrial-sized plant. As part of the relocation process, Argex intends to increase significantly the stated TiO2 production capacity of the pilot plant, which should translate into both significant cost savings for sample production and expedited production times to better serve Argex's potential customers and collaboration partners.
"Our R&D Centre will be relied on for continuous improvement as well as to support operations and commissioning of the industrial-sized plant," said Roy Bonnell, President and CEO of Argex, "Our R&D activities will enable us to focus on the optimization of our production methods in order to meet the highest industry standards as we seek to add value to our TiO2 product through continued innovation in collaboration with partners in the food, cosmetics & pharmaceutical, plastics, and architectural and industrial finishes industries. The establishment of Argex's own R&D Center at our Valleyfield facility represents an important step forward in the maturity of the Company. We are excited to be at this point in our evolution."
"We are delighted to welcome the new Argex R&D Centre to Valleyfield, which will foster the creation of quality, high-skilled jobs in our region," affirmed Denis Lapointe, Mayor of Salaberry-de-Valleyfield.
About Argex Titanium Inc.
ARGEX Titanium Inc. is a near-term producer of Titanium Dioxide (TiO2). With a primary goal of advancing rapidly towards production, Argex has adopted a simple and low-risk strategy for the scale-up of its proprietary process that allows it to produce high-purity pigment-grade TiO2 directly from run-of-mine material. The closed-loop process is environmentally friendly and produces minimal inert tailings.
Argex is pleased to have selected Valleyfield, Quebec as the location for its first industrial-sized production facility. The location of the site can be viewed at Argex Valleyfield.
Forward-Looking Statements and Disclaimer
This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology. Forward-looking statements are based on the best estimates available to Argex Mining Inc. ("Argex") at this time and involve known and unknown risks, uncertainties and other factors that may cause Argex's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Argex will derive therefrom. In particular, no assurance can be given as to the future financial performance of Argex. The forward-looking information contained in this press release is made as of the date hereof and Argex undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements.
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SOURCE: Argex Titanium Inc.
Roy Bonnell, President and Chief Executive Officer
Argex Titanium Inc.
514 788-8923
[email protected]
Argex Titanium Inc.
TSX-V: RGX
FSE: ASV
OTCBB: ARGEF
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