HydraLogic To Acquire Sager Industries Limited.TORONTO -- Company expects CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $4 million of incremental revenue & profitability in fiscal 2006 HydraLogic Systems Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:HLS (Hue Lightness Saturation) A color space that is closely related to HSB, except that Brightness is called Lightness and is measured from 0 to 1 rather than from 0 to 100%. See HSB. ) today announced that it has signed a letter of intent to acquire all issued and outstanding shares of privately owned Sager Industries Limited from the Sager family. Sager Industries Limited operates as Ecolo Odor Control Systems Worldwide ("Ecolo") www.ecolo.com and NuTech Environmental Corporation ("Nutech") www.nutechenvironmental.com. Founded in 1975, Ecolo currently operates from its manufacturing and distribution center in Toronto where it ships product to distributors in over 40 countries including China, Taiwan, Australia, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and throughout Europe. Ecolo has developed over 30 distinct proprietary chemical formulations that are used for odor control in a wide variety of applications ranging from hotels and sports facilities See:
Unit processes used to separate, modify, remove, and destroy objectionable, hazardous, and pathogenic substances carried by wastewater in solution or suspension in order to render the water fit and safe for intended uses. plants, industrial and agricultural sites. These products are blended from essential oils derived from plant extracts and are non-toxic, CFC-free and ozone friendly ozone friendly ozone adj → qui n'attaque pas or qui préserve la couche d'ozone . The transaction is subject to the completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , regulatory approvals and satisfactory financing. HydraLogic expects Ecolo to contribute revenues of approximately $4 million, and within the next twelve months the Company expects the combined companies to be profitable and generate positive earnings per share. Upon the completion of the transaction, Mr. Calvin Sager, Founder and President of Sager Industries, will join HydraLogic's management team to assist with the transition and integration of the acquisition and will be appointed to the HydraLogic Board of Directors. "Ecolo has a global reputation for providing an unparalleled product and service. The acquisition of Ecolo accelerates HydraLogic's aggressive path for growth and profitability without sacrificing our respect for the environment and nature's own processes. Now HydraLogic will have access to Ecolo's world wide distribution network and Ecolo's 65 international representatives will be in a position to increase their revenue with the addition of our equally innovative products and solutions." said Michael Beckley Michael Beckley (born 1 November1963) is an Australian actor. He is famous for his role as Rhys Sutherland on the television series Home and Away. He has also appeared in Water Rats, and A Country Practice. , President & 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. of HydraLogic Systems Inc. "For 30 years Ecolo has provided safe and extremely effective remedies to organic odour problems. Ecolo is ideally positioned to be the world leader in odor control solutions and I am confident that HydraLogic is the company to take our family business to the next level. I look forward to working with the management of HydraLogic to ensure a smooth and successful integration of Ecolo into the HydraLogic fold." remarked Mr. Sager. About HydraLogic HydraLogic Systems Inc. is an environmental technology company that is focused on the replacement of harmful polluting chemicals with non-toxic environmentally responsible solutions. Its technologies are being commercialized through distribution partnerships with leading regional, national and international companies with clientele in the waste management, pest control pest control n → control m de plagas pest control n → lutte f contre les nuisibles pest control pest n and agricultural products industries. About Ecolo Odor Control Systems Established in 1975, Ecolo designs, installs and maintains automatic odor control solutions for various environments such as sport stadiums, sewage treatment plants, landfill sites and commercial and residential buildings. Ecolo's airSolutions(R) are natural, and therefore 100 percent environmentally safe as they are blended from essential oils derived from plant extracts. Ecolo airSolutions(R) have been certified safe and non-toxic by government health departments around the World as well as by leading independent laboratories. This press release may contain forward-looking statements and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in general economic conditions, interest rates, government regulations, and competition. The Company disclaims any intention or obligation to update or revise any forward-looking statements unless required by applicable law. The TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved the contents of this press release. HydraLogic Systems Inc. (TSX VENTURE:HLS) |
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