Dec 29 2009
Pure Technologies Ltd., TSX-V:PUR, announced today that it has received a Letter of Intent from the Great Man-Made River Authority (GMRA) for a contract valued at over $30-million to expand the Authority's current pipeline monitoring program. The contract is subject to completion of the normal review process and final documentation.
Under the proposal, Pure will supply its patented SoundPrint(R) AFO fibre-optic monitoring system, capable of monitoring up to 960 km of the Authority's prestressed concrete pipeline transmission network. The Authority is currently monitoring approximately 350 km of the network following a contract awarded to Pure in September, 2007. Equipment deliveries will commence prior to current year-end and are expected to continue through 2011.
Commenting on the news, Jack Elliott, Pure's President, said: "This contract will ensure a strong revenue base in 2010 and 2011 while we are building up other markets and business sectors. We are aggressively expanding our presence in Mexico, South America, and the Middle East, and we expect this strategy to contribute to continuing growth in revenue and earnings. This development is a significant vote of confidence by GMRA in our AFO technology; and follows a similar trend in North America, where water agencies are increasingly looking to our technologies and services to provide them with important asset management information."
Source: http://puretechnologiesltd.com/html/