Conporec Inc.

Conporec Inc.

November 27, 2007 10:30 ET

Conporec's technology Will Be Deployed in Australia

Official start-up of the fourth Conporec's sorting-composting plant : a project of $60 Million

SOREL-TRACY, QUEBEC--(Marketwire - Nov. 27, 2007) - Conporec Inc. ("Conporec" or the "Company")(TSX VENTURE:CNP) announces today the official project start-up for the construction of a sorting-composting plant in Australia. After more than one year of negotiations and the October 25 announcement that the agreement negotiations were completed, all the conditions leading to financial close have been met this past 23 November.

Conporec will design and equip this 100,000-tonne annual capacity plant with the latest technologies developed by its team. This project should last for 19 months and cost more than CAD$60M.

Conporec's technology was selected for its efficiency and high quality, as part of an international tender process involving the world leaders in this field. To carry out this project, Conporec will provide design and engineering services as well as the rights and licenses to use its technology to BioVision 2020 Pty Ltd, a project company set up to design, build, own and operate the new plant for the next 20 years. The BioVision 2020 partners are SembSITA (subsidiary of SUEZ Environnement) as well as Westscheme Superannuation Fund. For its services and royalties, Conporec will receive a total compensation of $3.6M instead of the sum of $4.5M incorrectly announced on October 25, 2007.

"The work is now starting and Conporec is in a position of building a fourth waste recovery facility among the most modern in the world. For Conporec and its shareholders, this is a milestone project, confirming the Company's ability to carry out its ambitious business plan", stated Mr. Jean Beaudoin, President and CEO, Conporec. "In the current circumstances where municipalities are looking for solutions to their waste management, Australia is taking the lead by applying a safe and efficient technology", he concluded.

About Conporec

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.

Contact Information

  • Source:
    Conporec Inc.
    Conporec Inc.
    Jean Beaudoin
    President and CEO
    418-527-9996 (FAX)
    HKDP Communications and Public Affairs
    Jonathan Gendron
    514-395-0375, ext. 230