Conporec Inc.
TSX VENTURE : CNP

Conporec Inc.

November 23, 2007 16:00 ET

Conporec Announces its Results for the Third Quarter of 2007

SOREL-TRACY, QUEBEC--(Marketwire - Nov. 23, 2007) - Conporec Inc. ("Conporec" or the "Company") (TSX VENTURE:CNP) announces today its results for the third quarter ended September 30, 2007. This quarter was characterized by the development's activities, the planning work of our SSO Processing Facility in Becancour (Ca), as well as the discussions related to its financing and its waste processing contracts.

After having restructured its debt and therefore consolidated its financial base during the first quarter, and following the acquisition of the Parc industriel La Prade in Becancour in the second quarter, Conporec has put significant emphasis on securing waste supply contracts for the new plant. The project development team has also focused its efforts on submitting five proposals or qualification documents in France, Ontario and Quebec. As well, the negotiations related to the contract with Mindarie Regional Council in Australia have led last October 25 to the announcement of the imminent construction of the new plant. Finally, the Company was proud to announce during this quarter that it obtained a certification from the Bureau de normalisation du Quebec (BNQ) for the compost produced at its Sorel-Tracy Facility, a first in Quebec and in Canada.

The third quarter results are consistent with the efforts and resources dedicated to the intensive development of the Company. For the period, revenues increased by 13% compared to the same period last year. These higher revenues together with the continued efforts to control costs, allow the Company to present a 30% improvement of its net results with losses of $1,125k or ($0.01) per common share, fully diluted, compared to net losses of $1,623k or ($0.03) per common share for the same quarter in 2006. Overall, after three quarters, net profits for Conporec total $3,766k, or $0.03 per common share, fully diluted, including the exceptional profit generated by the debts and debentures write-off, compared to a loss of $3,726k for the same period of last year.

"The efforts carried out during the previous quarters allow us to obtain increasingly positive results. The imminent start of construction of the Australian Facility as well as the operations at the Becancour and Sorel-Tracy facilities, should allow Conporec to reach its objectives and continue with the implementation of its business plan", stated CEO Jean Beaudoin.

About Conporec

Conporec inc. develops and operates various patented composting and sorting technologies for the treatment and recycling of municipal solid waste. Conporec successfully delivered or under construction of several sorting-composting plants in Canada, France, United States and Australia and also about thirty composting installations in 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.

Contact Information

  • Source:
    Conporec inc.
    www.conporec.com
    or
    Additional information:
    Conporec inc.
    Jean Beaudoin
    President and CEO
    450-746-9996
    418-527-9996
    or
    HKDP Communications and Public Affairs
    Frederic Berard
    514-395-0375, ext. 230