Historical Archive
This press release was originally distributed via the eWire press wire service (2002–2016). It is preserved here as a historical record.
ZCL Composites Inc. Sells Interest in Philippines Operations
ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.
ZCL Composites Inc. Sells Interest in Philippines Operations
SUBSCRIBE/UNSUBSCRIBE |
Conservation & Wildlife
Corporate Responsibility
Science & Technology
Syndication Partners
**************************************************************************
E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE
**************************************************************************
FOR IMMEDIATE RELEASE:
ZCL Composites Inc. Sells Interest in Philippines Operations
CANADA, Apr. 17 -/E-Wire/-- ZCL Composites Inc. is pleased to announce the sale of its 40% interest in ZCL Enviro Systems, Inc. in the Philippines to its local partner, Brenton International Ventures Manufacturing Corporation. Brenton now owns 100% of Enviro Systems.
ZCL will continue to receive ongoing royalties under the long term licensing agreement, and sell specialized raw materials to Enviro Systems.
The success of this first international venture will be a model for future globilization. ZCL and Enviro Systems will work together to expand to certain additional geographic regions to capitalize on the demand for our products throughout the world. Enviro Systems will also be able to pursue other opportunities that were not considered core business by ZCL.
"This transaction is very much a win-win for both parties," says Ven Côté, President. "I would like to thank our many friends at Enviro Systems for their efforts and contribution, and wish them continued success in the future." says Côté.
ZCL Composites Inc. trades on the Toronto Stock Exchange under the symbol "ZCL" and is Canada's largest manufacturer of fibreglass underground storage tanks. ZCL tanks and accessories products are marketed under the "Prezerver" trademark as complete fuel storage systems which carry a $2 million warranty against pollution.
Ven Côté, President & CEO, ZCL Composites Inc., (780) 466-6648, [REDACTED-EMAIL]; Tony Barlott, V.P. Finance & CFO, ZCL Composites Inc., (780) 466-6648,
[REDACTED-EMAIL]
**************************************************************************
To Transmit Your News Over E-Wire, visit http://www.ewire.com or
call 1-[REDACTED-PHONE]. E-Wire Is Broadcast To Millions Of Readers Worldwide
**************************************************************************
1993 - 2003. All Rights Reserved.