Pure Technologies Awarded U.S. Metallic Pipe Engineering Contract
Oct 10, 2013
Pure Technologies Ltd. (Pure) (TSX: PUR) has announced that its wholly-owned subsidiary, Pure Technologies U.S. Inc. (Pure U.S.), has been awarded a significant engineering contract by the Howard County (Maryland) Bureau of Public Works.
For more than 10 years, Pure has been working with this customer on projects related to the inspection and management of large-diameter concrete water pipes. The new work involves condition assessment, renewal and management strategies for small-diameter, metallic water pipelines (principally ductile iron between 6 and 16 in. in diameter) within the project area. The new work, using an array of assessment technologies and engineering services, is expected to commence in late 2013 and include revenues of up to USD$1.7 million over a period of approximately 18 to 24 months.
“This announcement is significant for Pure in a number of ways,” said Pure U.S. president Mark Holley. “It confirms the strong growth potential for the Company using asset management strategies for small-diameter metallic pipelines through our Assess and Address strategy. This approach involves identifying localized deterioration and selectively repairing pipe sections only when necessary through our technology and engineering solutions. Additionally, this new work strongly supports the market trend by proactive utilities such as Howard County that opt for a cost-effective approach to pipeline management and rehabilitation. Finally, this award strengthens our reputation as a trusted partner to help manage other pipe types that make up the majority of a water distribution system.”