The Tirex Corporation (TXMC)

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From Tirex website
$20.8M MEMORANDUM OF UNDERSTANDING WITH MALAYSIAN GROUP SIGNED BY TIREX’S “GREEN” TIRE RECYCLING SYSTEM MANUFACTURER, SIMPRO S.p.A. OF ITALY





Westport, CT, July 14, 2009 – The Tirex Corporation (TXMC: OTCBB) today announced that Simpro S.p.A. of Torino, Italy recently signed an approximate $20.8 million Memorandum of Understanding with Enchantex Solutions of Malaysia to manufacture, deliver, commission and warrant a turnkey tire recycling facility utilizing Tirex’s patented, state of the art, tire recycling technology, the TCS System.



“This is a major milestone for Tirex and our TCS technology as it begins the production of the first commercial tire recycling system to freeze tire rubber with cold air as opposed to using expensive liquid nitrogen,” according to Tirex’s CEO John L. Threshie Jr.



“The completion of TCS purchase agreement(s) will allow us to offer reduced price points of its higher value-added crumb rubber ideally suited as infill in the expanding and lucrative synthetic turf industry,” Threshie pointed out.



Tirex anticipates announcing other TCS technology agreements currently in the discussion phase that would expand its technological reach internationally.



Simpro http://www.simpro.it/home.php?argid=49&pagid=18&lang=en), is ISO 9001 (Quality Management), ISO 14001 (Environmental Management) and EMAS (Environmental Management and Audit System) accredited. Simpro is licensed by Tirex to manufacture, install, commission and warrant turnkey TCS facilities and offer a performance bond guarantee.



The Memorandum of Understanding is subject to the approval of the boards of directors of all parties, among other things, and is subject to change. The MOU must be ratified by all parties in its final form by July 20, 2009 at a scheduled meeting to close and sign a TCS purchase agreement.



(The statements which are not historical facts contained in this news 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.)