| October 2, 2000
TURBOSONIC TECHNOLOGIES, INC. (OTC
Bulletin Board – TSTA) has received an order for the design, supply and
installation of a CDN$9,600,000 (US$6,500,000)
SonicKleenTM Wet Electrostatic
Precipitator (WESP) from Fletcher Challenge Canada Ltd., for
its Elk Falls mill in Campbell River, British Columbia. The order, TurboSonic’s
largest to date, exceeds the total revenues for all of last year. The
SonicKleenTM WESP is scheduled to be
installed and operational by the end of this fiscal year, June 30, 2001.
Fletcher Challenge Paper (FCP) was recently acquired by Norske Skog, a
Norwegian-based company and the world’s second largest newsprint producer.
"This order is very important in that it clearly demonstrates the
confidence of another world leading company in TurboSonic’s superior WESP
technology. The customer selected TurboSonic after extensive review of several
different systems. We believe that SonicKleenTM
WESPs are the most advanced precipitators in the world today. This order
confirms that belief." stated Edward Spink, TurboSonic’s Chairman and
CEO. "This project justifies our investment in fiscal 2000 to upgrade the
technology to meet more stringent air pollution regulations and we believe
that the demand for this technology will show significant growth in sales and
profitability and become one of our major products."
"After visiting operations representing several vendors we selected
this technology because we considered it the best combination of operating,
maintenance, and environmental performance," said Chuck Easton, Elk Falls
Environmental Coordinator. "The Campbell River community and the
employees of Elk Falls are anxiously awaiting the successful start up of this
project."
Norske Skog, a Norwegian-based company, is the world’s second largest
newsprint manufacturer, with 13 percent of global production capacity. Norske
Skog has 11,000 employees, its turnover is more than NOK 30 billion, and it
has 21 whole and partly owned mills in 13 countries on five continents. The
manufacturing plants are located in Norway, France, Austria, the Czech
Republic, Korea, China, Thailand, Malaysia, Australia, New Zealand, Canada,
Brazil and Chile.
On July 28th, 2000, Norske Skog closed the acquisition of the
New Zealand-based paper and pulp company Fletcher Challenge Paper (FCP) for
NOK 21 billion. This is the largest acquisition any Norwegian company has ever
made outside Norway.
"Through the acquisition of FCP, we have doubled our customer base and
laid the foundation for a significant increase in the company’s value. This
move gives Norske Skog a unique market position in the most important growth
markets for newsprint and magazine paper", stated CEO Jan Reinas. Norske
Skog is now the largest manufacturer of newsprint in South America,
Australasia and Asia, number two in Europe and number 5 in North America.
TurboSonic Technologies designs and markets proprietary air pollution
control technologies to industrial customers world-wide. Its products are
designed to meet and exceed the strictest emissions regulations, improve
performance, reduce operating costs and recover valuable by-products.
Industries served include Pulp & Paper, Metals & Mining, Cement, Waste
Processing & Incineration, Power Generation and Petrochemicals.
Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and involve known and unknown risks, uncertainties and
other factors that may cause the Company’s actual results, performance or
achievements to be materially different from the results, performance or
achievements expressed or implied by the forward looking statement. Factors
that impact such forward looking statements include, among others, changes in
world-wide general economic conditions, changes in interest rates, government
regulations, and world-wide competition.
For further information, contact:
Patrick Forde, President
TurboSonic Technologies, Inc.
550 Parkside Drive, Suite A-14, Waterloo, Ontario, Canada N2L 5V4
Phone: (519) 885-5513, Fax: (519) 885-6992
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