Steelmaking activity profitable to Clemex Tuesday May 23, 4:55 pm ET
Symbol: CXG.A-CDNX Shares Outstanding: 18,728,060 LONGUEUIL, May 23 /CNW Telbec/ - Clemex Technologies Inc. (TSX Venture: CXG.A - News) announces today that it has received orders for $135,000 from POSCO, South Korea for three more image analysis systems for Inclusions Rating in Steels. With these new purchases, POSCO now owns five Clemex CIR systems since it had already purchased one for its Research facility in Pohang and another one at a Steel plant. ADVERTISEMENT [Blocked Ads]
Non-metallic Inclusions Rating in Steels is a major quality control test for steel mills since it allows them to quantify the cleanliness of their steel, an important criteria for specialty steels which increase its value significantly. The new activity in the steelmaking business in Asia and elsewhere is good news for Clemex since the Company is the world leader in this type of instrumentation with more than 60 installations worldwide, of which 100% of the Steel Mills in Canada.
Clement Forget, president and CEO of Clemex Technologies commented, "We are quite pleased with the turnaround in the Steel industry and the increased interest for our CIR system. Our R&D group is presently partly redesigning the software in order to add two new analysis standards to the software, ISO and Euronorm, and this should thus reflect into more sales in Asia and Europe within the next few months."
About Clemex Technologies, Inc.
Clemex Technologies Inc. develops, manufactures and markets image analysis systems and software used by quality control and research microscopy laboratories. Clemex's customer base spans over many countries in America, Europe, Asia and encompasses major Research and Development Centers, prestigious Universities and large manufacturing industries in various fields including automotive, aerospace, raw materials manufacturing, pharmaceuticals, mining and other sectors.
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