CALGARY, ALBERTA - March 13, 2013 /CNW/ - Newalta Corporation ("Newalta") (TSX:NAL) announced it has signed a contract with Shell Canada Limited ("Shell") to process mature fine tailings ("MFT") at Shell's Jackpine Mine near Fort McMurray, Alberta. This represents Newalta's second long-term contract to process MFT using centrifugation technology.
Newalta expects to complete the design and installation over the next six months and commence operations in October 2013. We will employ 20 people and operate two large-bowl centrifuges on the site.
"We are making excellent progress in providing innovative onsite solutions to our major customers across Canada. We look forward to helping Shell achieve its environmental objectives," said Doug Pecharsky, Senior Vice President of New Markets with Newalta.
Newalta is North America's leading provider of innovative, engineered environmental solutions that enable customers to reduce disposal, enhance recycling and recover valuable resources from industrial residues. We serve customers onsite directly at their operations and through a network of 85 facilities in Canada and the U.S. Our proven processes, portfolio of more than 250 operating permits and excellent record of safety make us the first choice provider of sustainability enhancing services to oil, natural gas, petrochemical, refining, lead, manufacturing and mining markets. With a skilled team of more than 2,000 people, two decade track record of profitable expansion and commitment to commercializing new solutions, Newalta is positioned for sustained future growth and improvement. Newalta trades on the TSX as NAL. For more information, visit www.newalta.com.
This press release contains forward-looking information. More particularly, this press release contains forward-looking information relating to, duration and anticipated schedule of services to be provided under the contract, expected continued demand for our services, and our business prospects, strategy and anticipated growth of our onsite business. Although Newalta believes that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on it because Newalta can give no assurance that it will prove to be correct. Forward-looking information is based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Newalta and described in the forward-looking information contained in this press release. Among the various factors that could cause results to vary materially from those indicated in the forward-looking information include: the successful execution of the contract; costs associated with the contract; general market conditions of the industries we service; strength of the oil and gas industry; changes to regulatory requirements affecting the oil and gas industry and oil sands operations in particular, and future capital needs. Readers should also be aware that the forward-looking information is affected by the risk factors described in Newalta's annual information form and those set forth from time to time in Newalta's other continuous disclosure filings with Canadian securities regulatory authorities, which are available under Newalta's SEDAR profile at www.sedar.com.
The forward-looking information contained in this press release is made as of the date hereof and Newalta undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.