Tirex and Xerus Joint Venture to Market and Sell Recycled Rubber
Products
MONTREAL, April 12 /PRNewswire/ - The Tirex Corporation (OTCBB-TXMC)
announced today the signing of a joint venture with newly established Xerus,
Inc. of Montreal. Xerus will begin manufacturing new products in May using
Tirex' crumb rubber, Rutex, produced by its patented cryogenic tire recycling
technology, the TCS-1. Tirex President, John L. Threshie Jr., claims, "We have
developed this relationship through research and development collaboration
over several years and now we are very pleased that the TCS-1 is becoming a
commercial reality with another revenue based entity".
Xerus was formed to exploit the fast growing industry of plastic and
rubber recycling with the formulation of plastic and rubber composites that
will impact both the plastic and rubber industries with higher value-added
products. Tirex' collaboration included the co-founders of Xerus, Michel
DeBlois of MD Technologies (www.mdtechnologie.com), who has a long history of
successful business ventures in this field and has been recognized for his
scientific achievements specializing in industry applied R&D with awards such
as the J. Armand Bombardier ACFAS award in 1996, and Andre Valois, a plastics
consultant whose expertise has been designing, developing and marketing
innovative plastics and rubber products. Xerus has contractual obligations to
manufacture and sell rubber tiles and rubber mud flaps beginning in May 2001.
Tirex plans to develop joint ventures with companies worldwide that will
use the Rutex output of TCS Systems, to formulate and develop crumb rubber
products created by the Tirex / Xerus alliance. Tirex claims its TCS Systems
represent economically viable and environmentally friendly technologies
capable of producing exceptionally clean rubber with very high rubber recovery
yields from scrap tires. Tirex is marketing and selling TCS Systems to tire
recyclers and entrepreneurs interested in the economic and environmental
advantages of its technology. The Tirex TCS-1 prototype and commercial system
is located in Montreal. The Company's first production order came in December
2000 from Well Express International, Inc. of Hong Kong. Tirex, directly or in
combination with its strategic market development partners, has three-year
sales projections of up to US$75 million.
Production planning for European
customers is ongoing with Tirex' production partner, SIMPRO S.p.A.
(www.simpro.it), a manufacturing company based in Turin, Italy, which is
European Community ECO Management certified and an ISO 9001 and ISO 14001 high-
tech content supplier of industrial production systems, primarily for the
automotive industry. SIMPRO has established turnkey facilities for Volvo,
Audi, Volkswagen and Fiat with facilities in Europe and South America.
Mr. Threshie added, "The joint venture relationship with Xerus is another
step in the vertical integration of the company's plan for long-term growth
and security. When added to our ability to produce and sell TCS Systems and to
produce high quality crumb rubber, the extension into downstream businesses is
the natural evolution of our corporate strategy. TCS sales and the generation
of revenue with Xerus will put Tirex in a more favourable position in the
market to once again show promise to our shareholders and future investors."
The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including but not limited to risks associated with the
uncertainty of future financial results, additional financing requirements,
development of new products, government approval processes, the impact of
competitive products or pricing, technological changes, the effect of economic
conditions and other uncertainties detailed in the Company's filings with the
Securities and Exchange Commission.
SOURCE Tirex Corporation
-0- 04/12/2001
/CONTACT: Jackie Reid, The Tirex Corporation, (514) 933-2518,
Fax:(514) 933-6368, www.tirex.com/
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