Press release from Marketwire
Nordex Explosives Ltd. Announces Further Expansion With the Opening of a Newly Licensed Distribution Site in Strategic Location
Tuesday, December 10, 2013
Nordex Explosives Ltd. Announces Further Expansion With the Opening of a Newly Licensed Distribution Site in Strategic Location08:30 EST Tuesday, December 10, 2013
KIRKLAND LAKE, ONTARIO--(Marketwired - Dec. 10, 2013) -
NOT FOR U.S. DISTRIBUTION
NORDEX EXPLOSIVES LTD. ("Nordex" or the "Corporation") (TSX VENTURE:NXX) is pleased to announce the opening of its third planned strategic site in 2013. The facility is located near Matheson, Ontario and is close to large open pit mining operations. This will allow Nordex to continue to maximize the efficiency of its fleet of specialized emulsion pumping vehicles and to further increase sales to non-mining companies. The new site has been licensed as a satellite site which permits both the storage and distribution of explosives on site.
As previously announced, one aspect of the growth strategy for Nordex Explosives Ltd. identified the need for additional distribution sites to increase the ability to serve new clients and better service existing clients by increasing the geographic radius of operations. This site was chosen specifically in order to supply explosives to large quarry type operations in the immediate vicinity. The location also provides Nordex with regulatory approval to solicit and service additional construction, quarry and mining clients.
Nordex has recently launched a new proprietary line of safer perimeter control products (Johnex) under the "buttbuster" label. These products can be transported across Canada with less restriction than other explosives. As new satellite sites are established, Nordex is able to expand existing client business and create opportunities to service new clients. Nordex is actively seeking potential distributors in new and strategic locations from which to market these new products.
Jim Taylor, President, CEO stated; "We continue to execute our expansion plans to drive profitable revenue growth in 2014. This is the third such location announced this year and is an important milestone in the strategic growth plans of Nordex. We expect to continue this growth strategy in 2014 as we have identified several additional locations which would allow us to expand into new regions."
Nordex is recognized as an innovator and leader in the field of bulk and packaged emulsion products. This includes the development of unique bulk emulsion delivery systems for both surface and underground applications. Each of the new satellite sites has opened up new opportunities for growth. Nordex will actively pursue and expects to acquire an increased share of the explosives market in Canada. Negotiations are ongoing with potential clients, new factory and satellite sites are being established and technology to manufacture new products is being developed as we look to the future.
ABOUT NORDEX EXPLOSIVES: NORDEX EXPLOSIVES LTD. is a manufacturer and distributor of explosives for the mining, quarry and road construction industries since 1970. Its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario. Nordex is the exclusive supplier of the "buttbuster" Econotrim and Ezicharge perimeter control explosive products in Canada. Nordex trades on the TSX Venture Exchange under the symbol "NXX".
Neither 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.
Certain information included herein may contain "forward‐looking statements" which reflect the current expectations of management of the Corporation regarding the Corporation's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavor", "seek", "predict", "potential" and similar expressions have been used to identify these forward‐looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Corporation. Forward‐looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Corporation's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forwardlooking statements, including, without limitation, cancellations of or the failure to renew purchase orders; production and delivery issues; quality, pricing and availability of raw materials; compliance with environmental regulations; exchange rate fluctuations as well as the other risks identified in the "Risk Factors" contained in the Corporation's Management Discussion and Analysis and other public filings (copies of which may be obtained at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and the reader should not place undue reliance on the forward‐looking statements. Although any forward‐looking statements contained in this press release are based upon what management currently believes to be reasonable assumptions, the Corporation cannot assure readers that actual results, performance or achievements will be consistent with these forward‐looking statements, and management's assumptions may prove to be incorrect. These forward‐looking statements are made as of the date of this press release, and, other than as required by law, the Corporation does not intend, and does not assume any obligation, to update or revise these forward‐looking statements, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Nordex Explosives Ltd.
President, Chief Executive Officer
(705) 642-3265 #203