Sorel-Tracy, November 29, 2007 - Conporec Inc. (“Conporec” or the “Company”) announces today that the RIGIDBNY (Bécancour-Nicolet-Yamaska Intermunicipal Integrated Waste Management Board) (the “Board”) chose Conporec’s technology for the recovery of its municipal solid waste (MSW). After the April 4 announcement of its intent to use this technology and subsequent negotiations, the Board and Conporec have executed a four-year agreement. Pursuant to this agreement, the Board becomes the second region in the Province of Quebec (after the Bas Richelieu region, located in the Sorel-Tracy area) to opt for sorting-composting, thus not only meeting, but exceeding the Quebec Government 2008 waste recovery objectives.
The sorting-composting approach developed by Conporec over the last 10 years facilitates citizens’ participation in responsible waste management actions. They will be called upon to continue and to improve the source reduction efforts, their participation in the collection of recyclables (glass, paper/cardboard, metal) and hazardous domestic waste collection, while Conporec’s sorting-composting facility will mechanically sort the contents of their garbage bags. This mechanical sorting allows for the recovery of recyclable materials, while the putrescible matter will produce a quality compost certified by the Bureau de normalisation du Québec; a simple approach for the citizens and an immediate environmental benefit!
“The sorting-composting approach can reach a 70% recovery rate compared to only 37% for a dedicated organic curbside collection. The approach is much simpler for citizens, who will continue using the blue bin for recycling and the other bin for garbage,” stated Mr. Louis Charest, RIGIDBNY General Manager. Mr. Charest further expressed his pride in the decision taken by elected officials, which will allow the region to rank as leaders in Quebec and Canada in terms of waste recovery.
This contract has a value of more than $4.6M over the next four years. Although this represents a significant increase in waste management costs for the region, it is nevertheless an investment in one of the most performing systems currently available. For Conporec, these revenues will be added to those from the Bas-Richelieu region and further improve the financial performance of the Sorel-Tracy operations.
This agreement represents the second recognition of Conporec’s technology in Quebec and the fifth in the world. “The Board has opted for a state-of-the-art technology which has proven its environmental efficiency and remains more economical than any other method,” specified Mr. Jean Beaudoin, Conporec’s President and CEO.
About the RIGIDBNY
The Board represents the interests of about 20 municipalities and 28,000 citizens from the City of Bécancour and part of the Nicolet-Yamaska region’s municipalities for waste management issues. The municipalities vested in the Board the powers to act on their behalf for these issues.
Conporec Inc. develops, owns and operates various patented composting and sorting technologies for the treatment and recycling of municipal solid waste. Conporec successfully delivered three sorting-composting plants (Canada, France, United States) and also about thirty composting locations (Canada). Conporec is a socially responsible organization listed on the TSX Venture Exchange.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties or other factors that may cause actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The TSX Venture Exchange has not approved the information contained herein and accepts no responsibility for it, nor the validity of the operation planned.
|Additional information:||Jean Beaudoin
President and CEO
HKDP Communications and Public Affairs
514.395.0375, ext. 230
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