MONTREAL, May 29, 2015 /CNW Telbec/ - Ovivo Inc. ("Ovivo") has been awarded a contract to supply a polishing demineralization water system for a power plant in Southeast Asia. Through its heritage brand Christ Water Technology, Ovivo will supply equipment meeting the requirements for ultra-clean demineralized water and complying with the feed water guidelines for high pressure boilers. The contract is worth over $4 million Canadian and the delivery is scheduled for 2016.
"This additional large energy contract awarded to us continues to demonstrate that we are capitalizing on our strengths of being a global technology and solution provider to the energy market", said Marc Barbeau, President and Chief Executive Officer. "We like to partner with world-renowned clients who select us for the quality of our solutions and our capacity to support them wherever their projects are located across the world, thanks to our global platform", added Mr. Barbeau.
Ovivo's system is part of a co-generation plant that will not only supply steam and power to the petrochemical plants and the other facilities in the complex, but it will also supply power to the national grid for public consumption. The scope of supply includes the engineering, manufacturing and commissioning of four lines of carbon activated filters and mixed bed filters to further demineralize the water coming from the centralized demineralized water supply.
About Ovivo
Ovivo Inc. is a global company dedicated to water and wastewater treatment. It offers comprehensive technological solutions, as well as services and equipment tailored to specific client needs. Ovivo operates in over 15 countries with more than 800 employees. Ovivo is a public company whose shares trade on the Toronto Stock Exchange under the ticker symbols OVI.A and OVI.B. www.ovivowater.com
Notice regarding forward-looking statements
Certain statements in this press release and other public communications regarding management's objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements are recognized by the use of terms such as "forecast," "project," "could," "plan," "aim," "estimate" and other similar terms, possibly used in the future or conditional, particularly with regard to certain assumptions. The management of Ovivo would like to point out that forward looking statements involve a number of uncertainties and known and unknown risks such that the actual and future results of Ovivo could differ considerably from those stated. There can be no assurance as to the materialization of the results, performance or achievements as expressed in or underlying the forward-looking statements. The forward-looking statements included in this press release were made as of the date hereof, and unless required to do so pursuant to applicable securities legislation, management of Ovivo assumes no obligation to update them.
Information about the risk factors to which Ovivo Inc. is exposed is provided under sections entitled "Risks and Uncertainties" in the management's discussion and analysis for the fiscal year ended March 31, 2014 and for the third quarter ended December 31, 2014, available on SEDAR (www.sedar.com) and Ovivo's website (www.ovivowater.com).
SOURCE Ovivo Inc.
Marc Barbeau, President and Chief Executive Officer, Tel: + 1 514 284-2224; Pierre-Marc Sarrazin, Director, Corporate Finance and Treasury, Tel.: 514 284-7208, [email protected]
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