OTTAWA, March 12, 2012 /PRNewswire/ - Clearford Industries Inc. ("Clearford" or the "Company", TSXV: CLI) today announced that it signed a contract to implement their patented waste water collection system on behalf of Inversiones Positano S.A.C ("Positano"), a private developer who is building an exclusive beach-front development in San Antonio, just south of Lima, Peru. The Cdn$875,000 contract for Clearford's SBS™ system is being implemented through Clearford's subcontractor in Peru.
Delivery and installation will begin immediately and is expected to be completed by October 2012. Milestone payments to Clearford are pre-conditions to Clearford payments to the subcontractor.
Last year Clearford had signed an agreement of representation with Altis S.A.C., parent of Positano, to market the Clearford SBS system in Peru. Bruce Linton, President and CEO of Clearford stated "The first Clearford contract in South America is a significant milestone for us in this fast growing region. We are very pleased to work with Altis and Positano to provide our SBS system to this high quality residential development which we believe will be a showcase for Clearford within the South American market."
"We are very pleased with the lower capital and operating costs of the Clearford SBS system, and are excited about bringing this new environmentally friendly technology to Peru" commented Mr. Jean Pierre Fontanot, Positano General Manager. "We will be working closely with Clearford on the development of our beach community at Positano and are looking forward to working together on additional projects in the future."Clearford is in discussion with several developers and communities in South America for installation of SBS. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.