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Eurocontrol Technics Brings Fuel Marking and Tracing System to Southern Africa
TORONTO, ONTARIO--(Marketwire - April 11, 2011) -Eurocontrol Technics Inc. (TSX VENTURE:EUO), a company specializing in the development of marking and detection systems for the oil industry, through its wholly owned subsidiary, Global Fluids International S.A.
("GFI"), today announced it will be introducing its Petromark™ fuel marking and tracing system to southern Africa through an exclusive marketing and distribution agreement with Calulo Petrochemicals Group via its subsidiary Viacor Trading. Calulo Group is an energy and chemical investment vehicle that provides the energy industry with a number of services including shipping, logistics, ships agency and petroleum product trading.
"Eurocontrol's partnership with Calulo Petrochemical Group strengthens the Company's African network, where Eurocontrol, through its wholly owned subsidiary GFI, already has two operating projects in Tanzania and Uganda," commented Bruce Rowlands, President and CEO of Eurocontrol Technics. "Oil theft is a major issue for African oil producers and governments and an opportunity exists for Eurocontrol to prevent it using the Petromark™ fuel marking and tracing system," added Mr. Rowlands.
The Calulo Group will implement the Petromark™ technology on an exclusive basis in southern Africa using its logistical and financial capabilities.
"Calulo Group is proud to be associated with Eurocontrol and believes that stakeholders within the southern African fuel industry will benefit greatly from the implementation of the Petromark™ technology," commented Mr. William Kieser, Group Executive Director for Calulo Group.
Eurocontrol will continue to source marketing and distribution partnerships with well established distributors in other parts of the world.
About Eurocontrol Technics Inc.
Eurocontrol Technics Inc. through its two wholly owned subsidiaries GFI and Xenemetrix Inc. is one of the world's pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through its proprietary Petromark™ integral system, GFI has developed a four-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's five-year R&D efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol Technics Inc. allows management to pursue numerous anticipated oil marking opportunities in 2011 and in years to come. www.eurocontrol.ca.
About Global Fluids International
GFI-Petromark™ is a leading global provider of fully integrated marking, mixing and detection systems for the oil distribution industry. GFI's unique and proprietary liquid authentication system, Petromark™, is the direct result of a joint venture with a world renowned research laboratory. GFI is the sole manufacturer and supplier of the Petromark™ integral system, and is considered to be one of the best oil marking and detection solutions available in the market today. www.gfi-petromark.com.
About Calulo Petrochemical Group
Calulo Group's petroleum, energy and chemical investment vehicle - provides the energy industry with a 'cradle to grave' service offering. Calulo Group has assembled a formidable portfolio, with most of the entities having been built organically and the remainder added through acquisition. Current investments include significant stakes in TOTAL South Africa, FFS Refiners, NCP Chlorchem, Automated Fuel Services, Grindrod SA (incorporating Fuelogic) and Oiltanking Calulo, and majority ownership in a Services Group, comprising companies which offer the following products and services: shipping, ships agency, bunker supply, marine products, cargo brokerage, clearing and forwarding, chemical shipping and petroleum product trading. www.calulo.co.za.
Cautionary Note Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future operating performance of each of Eurocontrol, its projects and partnerships, expected synergies resulting from the partnership, the effect such arrangements can be expected to have on Eurocontrol's performance and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Eurocontrol to be materially different from those expressed or implied by such forward- looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the industrial industry; and, delays in obtaining governmental approvals or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Eurocontrol does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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