HydraLogic completes acquisition of Sager's Ecolo Odor Control and NuTech Environmental.BARRIE, Ontario For the electoral district, see . Barrie is a city of 128,430 residents,<ref name="2006CensCommun" /> the 35th largest municipality in Canada.<ref name="2006CensMuniPops" /> It is located on Kempenfelt Bay, an arm of Lake Simcoe in Central -- Management expects significant growth through positive synergies 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 completed the acquisition of privately owned Sager Industries Limited and its divisions Ecolo Odor Control and NuTech Environmental from the Sager family. Sager Industries Limited operates as Ecolo Odor Control Systems Worldwide ("Ecolo") www.ecolo.com and NuTech Environmental www.nutechenvironmental.com. Founded in 1975, Ecolo 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 more than 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. During the last fiscal year, Ecolo generated revenues in excess of $3,000,000 in line with HydraLogic's management gross margin and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become expectations. Management of HydraLogic anticipates that future sales will increase substantially as HydraLogic's odor control business is combined with Ecolo's business. Products of the combined business division will be marketed under the name HLS Ecolo. The acquisition of Sager strengthens HydraLogic's position in the odor control markets and adds significant new distribution to the Company's current network of distributors. Sager's depth of experience and global network of distribution, creates significant synergies for the combined business to cross-sell, expand and increase sales significantly on an ongoing basis. About HydraLogic Systems Inc. www.hydralogic.ca. HydraLogic Systems Inc. is an environmental technology company that is focused on the replacement of harmful polluting chemicals with non-toxic organic 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. 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 unlesss 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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