JER Envirotech International Corp.
JER SIGNS JOINT VENTURE AGREEMENT FOR WPC PANEL BOARD PRODUCTION LINE IN DELTA, BRITISH COLUMBIA
Corporate News transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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JER SIGNS JOINT VENTURE AGREEMENT FOR WPC PANEL BOARD PRODUCTION LINE IN
DELTA, BRITISH COLUMBIA
Vancouver, B.C. – December 5, 2006 – JER Envirotech International Corp.
(TSX Venture: JER; Frankfurt: KFTB) (‘JER’ or the ‘Company’) is pleased to
announce the completion of a Joint Venture Relationship Agreement between
the Company’s wholly-owned operating subsidiary, JERtech Manufacturing B.C.
Ltd. of Delta, British Columbia ,and BRZ Holdings Inc. (‘BRZ’) of
Vancouver, British Columbia.
Under the terms of the Joint Venture Agreement, BRZ purchased a 15%
ownership stake in JERTech Manufacturing B.C. Ltd. in return for a cash
investment of US$1,000,000. JERtech Manufacturing B.C. Ltd. is currently
the only known wood plastic composite (‘WPC’) manufacturing facility in the
world capable of producing high quality, uniform 4ft x 8ft panel boards
with thicknesses between 3mm (.12′) up to 15mm (.59′). The Company is
currently operating one WPC sheet extrusion line.
‘We are very pleased to have this strategic joint venture agreement in
place with BRZ,’ states Rely Diego, Chairman and CEO of JER Envirotech
International Corp. ‘In addition to its equity investment, BRZ brings a
great deal of knowledge and experience to our partnership with JERtech
Manufacturing B.C. Ltd. BRZ has a long history in the manufacturing of
construction building materials, such as plywood and OSB, in Pakistan and
other parts of Asia.’
‘We see significant global potential for JER’s unique, patented WPC
technology, particularly in Asia,’ states Noshir Divecha, Director of BRZ.
‘We view this initial investment in JERtech Manufacturing B.C. Ltd. as a
pilot project while the Company begins to commercialize its WPC panel
boards. We look forward to a prosperous joint venture relationship.’
ABOUT JER Envirotech International Corporation
JER is a global manufacturer of wood-plastic (or alternative fibre)
composite (WPC) compounds and panel boards. The Company’s patented WPC
technology utilizes waste or by-product materials such as saw dust and rice
husk, to produce environmentally-friendly alternative products for
applications in the automotive manufacturing, construction and transport
industries. The Company currently has 42 unique WPC formulations which it
developed in collaboration with the National Research Council – Industrial
Materials Institute of Canada.
JER has WPC manufacturing operations in Canada and Malaysia, and is
currently in the process of establishing new plants in the Philippines and
India. The Company is publicly-traded on the TSX Venture Exchange (TSX)
under the symbol ‘JER’.
On behalf of the Board of Directors,
JER ENVIROTECH INTERNATIONAL CORPORATION
‘Sokhie Puar’
Sokhie Puar, Director
For More Information
Mr. Mark Komonoski
VP Corporate Communications
Toll-Free: 1-877-255-8483
International: +1-403-255-8483
mark@jerenvirotech.com
Mr. David Gordon
The Howard Group Inc.
Toll free: 1-888-221-0915
info@howardgroupinc.com
‘The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.’
(c)DGAP 05.12.2006
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