Marsulex announces strategic review

TORONTO, March 23 /CNW/ - Marsulex Inc. (TSX: MLX) today announced that it has initiated a review of strategic options for the Company.

The Company has commenced a broad based process which includes review of opportunities for strategic alliances, joint ventures, mergers or a corporate sale of all or part of the business. There can be no assurances that this process will result in any transaction.

"We think that Marsulex's strong balance sheet, consistent financial performance, attractive growth prospects, technological capabilities, and customer base are attractive attributes as we proceed with the strategic review," said Laurie Tugman, President and Chief Executive Officer, Marsulex Inc.

Marsulex has engaged TD Securities Inc., CIBC World Markets Inc. and Houlihan Lokey as advisors. No timetable has been set for the completion of the strategic review.

In the meantime, the Company continues to conduct its business as usual and remains fully focused on providing environmental compliance solutions for customers.

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.

This news release contains forward-looking statements. These statements are based on current views and expectations that are subject to risks, uncertainties and assumptions that are difficult to predict, including risks, uncertainties relating to the Company's growth and profitability or the outcome of a strategic review.

Actual results may differ materially from results suggested in any forward-looking statements whether as a result of new information, future developments or otherwise. 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.

Additional information identifying risks, uncertainties and assumptions is contained in the Company's filings with the securities regulatory authorities, which are available at www.sedar.com. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.

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For further information: Laurie Tugman, President and CEO, Tel: [phone]; or William Martin, Chief Financial Officer, Tel: [phone]