TurboSonic Announces CAD$4.25 Million Credit Facility
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WATERLOO, ONTARIO, Jul 22 (MARKET WIRE) --
TurboSonic Technologies, Inc. (OTCBB: TSTA), a global leader in the
design and supply of industrial air pollution control technologies, today
announced the establishment of a CAD$4.25 million credit facility with a
major Canadian chartered bank, which will support new business in foreign
markets.
Edward Spink, TurboSonic's CEO commented, "Although we have operated for
years without debt, we have arranged this credit facility in anticipation
of growth in foreign markets. It will strengthen our ability to negotiate
international letters of credit and develop business opportunities abroad.
Our presence in international markets provides us with exciting growth
opportunities created by the increasing demand for reduction of
industrial air pollutants by the worldwide environmental movement. Our
activities in Europe are contributing to our growth and this credit
facility will enable us to build on this success."
TurboSonic Technologies (www.turbosonic.com) designs and markets air
pollution control technologies to industrial customers worldwide. Its
products help companies in the Cement and Mineral Processing, Ethanol,
Metals & Mining, Petrochemicals, Power Generation, Pulp & Paper, Waste
Incineration, and Wood Products industries comfortably meet the strictest
emissions regulations, improve performance and reduce operating costs.
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
general economic conditions, interest rates, government regulations, and
competition. For a discussion of such risks and uncertainties, which
could cause actual results to differ from those contained in the
forward-looking statement, see the annual report on Form 10-KSB and other
documents the Company files from time to time with the Securities and
Exchange Commission.
TurboSonic Technologies, Inc. (OTCBB: TSTA)
Contacts:
TurboSonic Technologies, Inc.
Ed Spink
CEO
(519) 885-5513 or Toll Free: 1-800-269-0298
(519) 885-6992 (FAX)
Email: info@turbosonic.com
Website: www.turbosonic.com
Copyright 2008, Market Wire, All rights reserved.
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