| BIOREM RECEIVES INTERNATIONAL ORDERS TOTALING C$1.2 MILLION |
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Guelph, Ontario (December 7, 2009) – BIOREM Inc. (“Biorem” or “the Company”) (TSX-V: BRM) announced today that it received four international orders for its air emissions control systems (“the Systems”), totaling C$1.2 million in value. The orders were booked in the month of November and were led by a $700 thousand municipal odor control project. The Systems cover the diverse nature of applications ranging from a petrochemical volatile organic compound removal project in Brazil, to an advanced two-stage biofiltration project at a wastewater treatment facility in South Africa. The other orders came from Ecuador and Israel. Biorem has an established presence in all of these markets. The units are expected to be shipped to site and fully operational in the second quarter of 2010. “We are pleased to report substantial progress in advancing our organic growth bookings internationally,” said Peter Bruijns, President and CEO. “These new orders reinforce management’s strategy to expand Biorem’s reach via product development and applications, as well as through geographic diversification. As a result of our strengthening competitive position in global markets and cost effective technologies, our Middle Eastern order marks our second contract win from the same customer. We will continue to develop our existing relationships to facilitate repeat business. Our international sales force will be a key driver in growing our sales in existing markets and penetrating new geographic markets.”
About BIOREM Inc.
For further information, please contact:
Adriana Braczek, Investor Relations
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Non-GAAP Measures Order Bookings and Order Backlog are non-GAAP measures that the Company uses to evaluate its sales performance. Order Bookings are those binding contracts that the Company enters into with a third party for the delivery of our products or services. As Order Bookings are received, the contract value (before any associated sales taxes) is included in the Order Backlog. The Order Backlog is reduced by the revenue that is recognized on each project.
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