MONTREAL, Dec. 17 /CNW Telbec/ - (Note All amounts are in Canadian dollars unless otherwise indicated.) Management of GLV Inc. ("GLV" or "the Company"; ticker symbols LVG.A and LVG.B) announces that the Water Treatment Group has been awarded more than $28 M in new large-scale contracts in North America, Europe and Asia over the past few weeks. The group has notably received orders totalling more than $14 M for municipal wastewater treatment equipment in the United States and Canada, including for submerged membrane bioreactors (MBR) and various other systems. In Europe, the group has been awarded large contracts worth a total of $11 M in the municipal market and energy sector in the United Kingdom, as well as in the industrial market in Norway. Among the largest European orders, the Copa division will deliver twelve packaged MBR units, designed for a municipal wastewater treatment system, having a total value of almost $3 M. Finally, the group was awarded two large contracts in Asia, one of them to upgrade the effluent treatment facilities of a paper producer in Vietnam and the other in the energy sector in Singapore.
Substantially all of these new contracts will be finalized during GLV's fiscal year ending March 31, 2009. These orders are in addition to several other large-scale orders garnered since the beginning of the third quarter of the current fiscal year, along with the numerous smaller-sized contracts included in the Water Treatment Group's order backlog in the municipal, industrial and energy markets worldwide.
"Our Water Treatment Group is developing as expected and we remain focused on our long-term objective of positioning this group among the leading players in this growth industry worldwide," said GLV's President and Chief Executive Officer Richard Verreault, who has also taken on the leadership of the Water Treatment Group since the recent departure of its former Vice-President and General Manager, Graham Lawes. "We continue to see solid activity in the municipal market in the United States, where we are currently restructuring part of our organization to improve our positioning and profitability. In Europe, the operational reorganization that followed the acquisitions made in recent quarters is yielding positive results, notably in terms of competitiveness," Richard Verreault concluded.
About GLV Inc.
GLV Inc. was founded on May 15, 2007 to carry on the activities of the Water Treatment Group and the Pulp and Paper Group formerly conducted by Groupe Laperriere & Verreault Inc. The Water Treatment Group specializes in the design and marketing of solutions for the treatment of municipal and industrial wastewater and water used in various industrial processes, and also offers water intake screening solutions for power stations and desalination plants. The Pulp and Paper Group specializes in the design and marketing of equipment used in various stages of pulp and paper production, notably chemical pulping, pulp preparation and sheet formation, and is a recognized leader in rebuilding, upgrading and optimization services for existing equipment, as well as the sale of spare parts. GLV is present in some 30 countries and has approximately 1,500 employees.