ORONTO, ONTARIO–(Marketwired – Sept. 4, 2013) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES.
Eurocontrol Technics Group Inc. (TSX VENTURE:EUO) (“Eurocontrol” or the “Company”), a Canadian public company specializing in the acquisition, development and commercialization of innovative energy security, authentication, verification and certification technologies, announces that its wholly owned subsidiary Global Fluids International S.A. (“GFI”) has commenced the national fuel marking and tracing contract in Albania.
By implementing this national fuel marking and tracing contract, Albania is taking the lead against corruption in the fuel market in the Balkan area and based on results in other countries, Albania anticipates an increase in fuel taxes of between EUR150 to EUR200 million per year and an improvement in fuel quality and the environment.
Bruce Rowlands, Eurocontrol’s Chairman and CEO stated: “The implementation of GFI’s Petromark™ system in Albania forms part of a comprehensive campaign against fuel tax evasion. We are very pleased that the Government of Albania has taken this positive initiative towards improving tax collection and fuel quality.”
About Eurocontrol Technics Group Inc.
Eurocontrol through its three wholly owned subsidiaries, Global Fluids International S.A. (“GFI”), Xenemetrix Inc. (“Xenemetrix”) and XwinSys Ltd. (“XwinSys”), is a leading provider and innovator of detection and marking systems worldwide. GFI and Xenemetrix are global pioneers in developing and implementing innovative molecular marking systems for the oil industry and XwinSys is currently a development stage company. GFI’s unique and proprietary liquid authentication system, Petromark™, is the world’s leading solution for fully integrated oil marking, mixing and detection. Xenemetrix is a leading designer, manufacturer and marketer of energy-dispersive x-ray fluorescence (“EDXRF”) systems, a technology that is the most accurate and economic method for determining the chemical composition of many types of materials, including the analysis of petroleum oils and fuel. XwinSys is currently developing intellectual property that will combine 2D and 3D image processing technology from Brossh Inspection Systems Ltd. of Israel with Xenemetrix’s EDXRF technology to detect manufacturing flaws in the semi-conductor manufacturing process.