March 27, 2002
—
filed under:
Financial News,
FY 2002
Hamon Research-Cottrell Increases Equity Position in TurboSonic Technologies with Purchase of Additional 450,000 Shares
TURBOSONIC TECHNOLOGIES, INC. (OTC Bulletin Board – TSTA), a leading provider of air pollution control technology, today announced it has learned that Hamon Research-Cottrell, Inc. has recently completed the purchase of 450,000 shares of TurboSonic's common shares from CVF Technologies Corporation. Hamon Research-Cottrell now owns approximately 9% of TurboSonic's outstanding common shares.
"We are very pleased that Hamon Research-Cottrell has expressed its confidence in TurboSonic and its proprietary technology by increasing its equity position in our Company. This is further validation that Hamon Research-Cottrell is firmly committed to the success of our strategic alliance and our efforts to expand our sales to the international marketplace," stated Edward Spink, TurboSonic's Chairman and CEO. "We look forward to the success that this strategic alliance will bring to our respective companies."
TurboSonic Technologies, Inc.
TurboSonic Technologies designs and markets proprietary air pollution control technologies to industrial customers worldwide. 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 and Mining, Cement, Waste Processing & Incineration, Power Generation and Petrochemicals.
Hamon Research-Cottrell, Inc.
Hamon Research-Cottrell provides expertise, technologies, and services to solve many pollution control needs. Solutions include wet and dry electrostatic precipitators; dry and semi-dry acid gas scrubbing systems; ash handling; selective catalytic reduction (SCR), selective non-catalytic reduction (SNCR), and hybrid NOx control systems; and fabric filters which include compact hybrid particulate collectors (COHPAC), reverse gas, and high, intermediate, and low-pressure pulse-jet. Expert repair, upgrades, maintenance, consulting services, and parts for all of its products are also provided by Hamon Research-Cottrell.
A member of the worldwide Hamon Group, which is headquartered in Brussels, Belgium, Hamon Research-Cottrell has almost 100 years of experience in providing capital equipment to a wide range of industries, including power generation, petrochemical, glass, pulp & paper, metals and cement.
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 worldwide general economic conditions, changes in interest rates, government regulations, and worldwide 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
"We are very pleased that Hamon Research-Cottrell has expressed its confidence in TurboSonic and its proprietary technology by increasing its equity position in our Company. This is further validation that Hamon Research-Cottrell is firmly committed to the success of our strategic alliance and our efforts to expand our sales to the international marketplace," stated Edward Spink, TurboSonic's Chairman and CEO. "We look forward to the success that this strategic alliance will bring to our respective companies."
TurboSonic Technologies, Inc.
TurboSonic Technologies designs and markets proprietary air pollution control technologies to industrial customers worldwide. 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 and Mining, Cement, Waste Processing & Incineration, Power Generation and Petrochemicals.
Hamon Research-Cottrell, Inc.
Hamon Research-Cottrell provides expertise, technologies, and services to solve many pollution control needs. Solutions include wet and dry electrostatic precipitators; dry and semi-dry acid gas scrubbing systems; ash handling; selective catalytic reduction (SCR), selective non-catalytic reduction (SNCR), and hybrid NOx control systems; and fabric filters which include compact hybrid particulate collectors (COHPAC), reverse gas, and high, intermediate, and low-pressure pulse-jet. Expert repair, upgrades, maintenance, consulting services, and parts for all of its products are also provided by Hamon Research-Cottrell.
A member of the worldwide Hamon Group, which is headquartered in Brussels, Belgium, Hamon Research-Cottrell has almost 100 years of experience in providing capital equipment to a wide range of industries, including power generation, petrochemical, glass, pulp & paper, metals and cement.
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 worldwide general economic conditions, changes in interest rates, government regulations, and worldwide 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
