Oct. 15, 2010 (Canada NewsWire Group) --
OTTAWA, Oct. 15 /CNW/ - Clearford Industries Inc. ("Clearford" or the "Company", TSX-V: CLI) today announced that it had been awarded silver at the Canada China Business Council (CCBC) Business Excellence Awards in the category of Outstanding SME Innovation and Best Practice. The award was presented during the CCBC Gala Banquet in Beijing, China, which was in celebration of the 40th anniversary of signing diplomatic relations between Canada and China.
CCBC Chair Peter Kruyt noted during the banquet that bilateral trade between Canada and China has grown to about $50 billion annually. "Over the years our countries have set many targets for trade and we have always surpassed those targets." Given a new commitment, announced by Chinese President HU Jintao and Prime Minister Stephen Harder at the CCBC reception in Ottawa in June, to double Sino-Canadian trade by 2015, Kruyt said, "We will rise to that challenge."
Clearford was one of three SME award winners. Noteworthy is that all three SME's share the common business purpose of delivering Canadian proven cleantech infrastructure. Clearford is poised to take advantage of the new commitments for sustainability in China and trade growth. Further, Clearford entered the China market with significant support from all levels of Canadian government, having participated in trade activities at the municipal, provincial and federal levels.
At the CCBC Business Excellence Awards, Clearford was honored alongside companies such as BMO Financial, SNC Lavalin, Bombardier China, Manulife Financial, Menergy and Bioteq. Clearford President and CEO, Bruce Linton, was in Beijing to accept the award. Mr. Linton commented on being honoured amongst the aforementioned companies "Being presented an award amongst such established companies and in front of many business and political leaders after less than one year of activities in China is truly an honor." Mr. Linton further commented "The Clearford waste-water collection and treatment solution results in clean water and green energy as output. The Chinese market is eager to adopt infrastructure solutions that are superior to historic western methods and as a result Clearford has been embraced."
On July 5th, 2010, Clearford announced its first contract in China to design its patented Small Bore Sewer(TM) system for a development in the Hubei Province; furthermore, Clearford has also attracted private equity investment from the number one boutique investment bank in China as ranked by ChinaVenture.
While Clearford believes that significant and near term opportunities exist for the Company's solution, there can be no assurance that customer agreements will be reached or that such agreements will be profitable should they be implemented.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Canada China Business Council is the country's Canada-China bilateral trade and investment facilitator, catalyst and advocate, bringing more than three decades of experience and business relationship building to its members. A private, not-for-profit business association, CCBC is dedicated to building its members' business success in China and Canada by offering unmatched business service and support. From direct operational support in China to trade and investment advocacy on its members' behalf, CCBC is a vital resource in enhancing Canada-China bilateral trade and investment and in building prosperity for Canadians through enhanced Sino-Canadian business.
About Clearford Industries Inc.
Clearford Industries Inc. (TSX-V: CLI) is the developer of the patented Small Bore Sewer(TM) (SBS(TM)), a watertight small diameter wastewater collection system that provides servicing with superior operational and environmental performance at a significantly lower cost when compared to historic gravity sewers. Clearford's SBS(TM) technology and industry expertise provide the enabling platform to deliver, on a global basis, turnkey, fixed-price wastewater collection, treatment and energy generation solutions that are ideally suited for water-scarce regions, those with unreliable water distribution networks, and new developments seeking a greener approach to water and wastewater management. For more information on Clearford, please visit www.clearford.com.
Forward Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this news release, Clearford will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities law, the Company assumes no obligation to update or revise any forward looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: industry cyclicality; the ability to secure third party agreements; successful integration of Clearford's system with third party technology; competition; reduction in demand for products; collection from customers; relationships with suppliers; product liability; intellectual property; reliance on key personnel; environmental; interest rates; uninsured and underinsured losses; operating hazards; risks of future legal proceedings; income tax matters; credit facilities; availability and terms of financing; distribution of securities; restrictions on potential growth; effect of market interest rates on price of securities; and potential dilution.
Bruce Linton, President and CEO, Clearford Industries Inc., Phone: (613) 599-6474 ext. 301, www.clearford.com; Martin Tremblay, Investor Relations, (514) 476-7773; Canada China Business Council: Victor Hayes, Director, Public Affairs, Canada China Business Council, firstname.lastname@example.org, 416-994-0535; John Zhao, Deputy General Manager Beijing, Canada China Business Council, email@example.com, (86 10) 8526-1820/21/22