Elsag Bailey to Sell Ultraviolet Disinfection Business.AMSTERDAM, The Netherlands--(BUSINESS WIRE)--Dec. 23, 1997-- Elsag Bailey Process Automation N.V. (NYSE NYSE See: New York Stock Exchange :EBY EBY Ente Binacional Yaciretá (Argentina-Paraguay) ) announced today it has sold the assets and ongoing operations of the company's non-core ultraviolet disinfection Ultraviolet disinfection is a form of wastewater treatment. It is commonly used in garden pond filtration systems to kill algae. Large scale urban UV wastewater treatment is performed in cities such as Edmonton, Alberta. business, to Trojan Technologies, Inc. of London, Ontario. Based in Burlington, Ontario Burlington (2006 population 164,415) is a city located in the Golden Horseshoe, across Lake Ontario and Burlington Bay harbour from Hamilton, in Halton Region, Ontario, Canada. , the unit provides equipment for ultraviolet disinfection of municipal and industrial water and wastewater streams. Acquired as part of the Fischer & Porter group in 1994, the disinfection disinfection, n the process of destroying pathogenic organisms or rendering them inert. disinfection, full oral cavity, n a procedure used to reduce active periodontal disease, usually completed within a certain short time frame. business has operated most recently as part of Elsag Bailey (Canada) Inc., and has estimated 1997 revenues of $5.0 million. Under the terms of the agreement, Elsag Bailey will complete certain contracts now in progress, and will continue to provide customer support and service for disinfection systems sold before the divestiture. Mr. Vincenzo Cannatelli, Elsag Bailey Managing Director and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented on today's announcement, stating, "This action continues our stated plan to closely examine our business portfolio and divest unrelated assets. We remain committed to strengthening the core technologies which contribute to our `one-stop-shop' automation solutions." One of the world's leading process automation companies, Elsag Bailey Process Automation N.V., incorporated in the Netherlands, has nearly tripled its revenues in three years by aggressively expanding its global markets through approximately 12,000 employees in over 30 countries. Elsag Bailey's computer and electrical products--control systems, instrumentation products, and analytical devices--keep its customers on the cutting edge of productivity. Elsag Bailey's global customers are among the leading names in the process industries including electric utilities, oil and gas, chemicals and pharmaceuticals, pulp and paper, water and wastewater, metals and ceramics, and other high tech companies. For copies of additional press releases or quarterly reports, call Elsag Bailey's Fax-on-Demand service at 1-888-329-2311, or visit the Company's web site at www.ebpa.com. Requests for information can also be made via e-mail at investorinfo@bailey.com. NOTE TO EDITORS: There is an "at" symbol between "investorinfo" and "bailey.com" in the e-mail address See Internet address. e-mail address - electronic mail address above. That symbol may not appear properly in some systems. CONTACT: Elsag Bailey Process Automation N.V. Christopher M. Farage, Ph.D., 440/585-8675 |
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