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22.10.2003: Meldung: Ionics Selected by Algerian Energy Company for Seawater Desalination Water Supply Contract
Ionics, Inc., announced today that on October 18, 2003 the Algerian Energy Company (AEC) publicly declared Ionics as the selected bidder for a twenty- five (25) year seawater desalination build-own-operate (BOO) project. Ionics and AEC will form a joint project company to finance, build and operate the plant, with Ionics owning a majority interest. The projected US$225 million capital investment will be financed by a combination of equity and non- recourse debt. The initial water tariff will be US$0.8182 per cubic meter, subject to adjustment pending completion of debt financing. The take-or-pay water supply contract will be guaranteed by Sonatrach, the national energy company.The desalination plant, to be located near Algiers, will have a capacity of 200,000 cubic meters per day (53 million gallons per day) of drinking water. Construction will take approximately two years after completion of debt financing. The plant will be the largest membrane desalination facility in Africa and one of the largest in the world.
Ionics will design and supply the seawater reverse osmosis (RO) desalination system, and operate the facility over the 25-year contract period. In accordance with Company policy, the project will not be booked into backlog until a firm commitment for debt financing is obtained and the final water sales contract is completed. These activities are expected to take approximately 6 to 8 months.
Commenting on the selection, Douglas Brown, Ionics" CEO stated, "This selection reaffirms Ionics as a world leader in membrane-based desalination, and our employees are proud to be associated with this landmark project. Ionics has been supplying water systems to Algeria for almost 40 years. We are pleased to be an important part of helping Algeria solve its long-term water issues."
About Ionics
Ionics is a global separations technology company involved in the manufacture and sale of membranes, equipment, systems and services for the purification, disinfection, concentration and analysis of water, wastewater and ultrapure water. Over a period of more than 50 years, Ionics has built more desalination plants than any other company in the world. Ionics is a leader in the supply of world-class ultrapure water systems for the power and microelectronics industries, zero liquid discharge systems and in the measurement and analysis of both total organic carbon and boron. For additional information, please visit www.ionics.com.
Safe-harbor statement under the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release involve risk and uncertainty. The statements contained in this release which are not historical facts are forward-looking statements, including without limitation those relating to the completion of the water sales contract and the obtaining of debt financing for the Algerian desalination facility. These forward- looking statements are neither promises nor guarantees but are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Risks and uncertainties affecting forward-looking statements include overall economic conditions; demand for Company products; price pressures and competition from companies larger than the Company; risks of nonpayment of accounts receivable; risks associated with foreign operations; technological and product development risks; availability of manufacturing capacity; and other factors described in the Company"s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2002. You should not place undue reliance on the forward-looking statements in this press release, and the Company disavows any obligation to update or supplement those statements in the event of any changes in the facts, circumstances, or expectations that underlie those statements.
For more information, contact:
Theodore G. Papastavros
Ionics, Incorporated
Tel: (617) 673-4221
tpapastavros@ionics.com
Ionics will design and supply the seawater reverse osmosis (RO) desalination system, and operate the facility over the 25-year contract period. In accordance with Company policy, the project will not be booked into backlog until a firm commitment for debt financing is obtained and the final water sales contract is completed. These activities are expected to take approximately 6 to 8 months.
Commenting on the selection, Douglas Brown, Ionics" CEO stated, "This selection reaffirms Ionics as a world leader in membrane-based desalination, and our employees are proud to be associated with this landmark project. Ionics has been supplying water systems to Algeria for almost 40 years. We are pleased to be an important part of helping Algeria solve its long-term water issues."
About Ionics
Ionics is a global separations technology company involved in the manufacture and sale of membranes, equipment, systems and services for the purification, disinfection, concentration and analysis of water, wastewater and ultrapure water. Over a period of more than 50 years, Ionics has built more desalination plants than any other company in the world. Ionics is a leader in the supply of world-class ultrapure water systems for the power and microelectronics industries, zero liquid discharge systems and in the measurement and analysis of both total organic carbon and boron. For additional information, please visit www.ionics.com.
Safe-harbor statement under the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release involve risk and uncertainty. The statements contained in this release which are not historical facts are forward-looking statements, including without limitation those relating to the completion of the water sales contract and the obtaining of debt financing for the Algerian desalination facility. These forward- looking statements are neither promises nor guarantees but are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Risks and uncertainties affecting forward-looking statements include overall economic conditions; demand for Company products; price pressures and competition from companies larger than the Company; risks of nonpayment of accounts receivable; risks associated with foreign operations; technological and product development risks; availability of manufacturing capacity; and other factors described in the Company"s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2002. You should not place undue reliance on the forward-looking statements in this press release, and the Company disavows any obligation to update or supplement those statements in the event of any changes in the facts, circumstances, or expectations that underlie those statements.
For more information, contact:
Theodore G. Papastavros
Ionics, Incorporated
Tel: (617) 673-4221
tpapastavros@ionics.com