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Pure Technologies concludes purchase of The Pressure Pipe Inspection Company

06 September 2010

The purchase was concluded for up to CAN$34.9 million in cash and common stock of Pure Technologies.

Dr. Brian Mergelas, formerly the chief executive officer of the Pressure Pipe Inspection Company (PPIC), is now Pure's senior vice-president, Corporate Strategy & Development. Dr. Mergelas will be a key contributor to shaping Pure's strategic direction and in identifying future opportunities to grow Pure's business. He will also continue to play a leading role in the promotion of proactive asset management as a cost-effective strategy for bridging the infrastructure funding gap.

Peter Paulson, Pure's chief executive officer, said: “This is a significant milestone for Pure and for the international water technology sector. The combined Pure/PPIC entity will be a world leader in the field of condition assessment and asset management for water and wastewater pipelines. We are excited about the opportunity to work with Dr. Mergelas and his team as we continue to build awareness of the need for cost-effective strategies and solutions for the enormous challenges facing pipeline operators around the world. Working together, we will be able to deliver a cohesive and powerful message to the industry about the value of technology-driven proactive asset management. We are also looking forward to working with PPIC's research and development team to accelerate the introduction of new condition assessment tools for pipelines.”

 

 

This article is featured in:
Public Sector & Policy  •  Wastewater & Sewage Treatment

 

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