MONTREAL, June 26, 2002 (PRIMEZONE) -- Environmental Applied Research Technology House -- EARTH (Canada) Corporation (TSX:EAR) (Other OTC:EARHF) is pleased to report that its strategic partner in Korea, Simulation Technologies (STI), has signed a contract for the supply of four de-greasing water separation systems to Daewoo Shipyards worth $180,000. Daewoo ranks as one of the largest ship builders in the world.
The de-greasers are to be installed in ships currently under construction at Daewoo. Under terms of the agreement, STI will manage the entire process, providing the manufacturing, sales and servicing infrastructure. For its oil/water separation expertise, EARTH will receive a significant share of the revenue streams.
Dr. Kim, President of STI, comments: "STI and EARTH's relationship has been a work in progress since late last year. To see the fruits of our labor materialize after considerable groundwork is rewarding. EARTH was instrumental in involving us and introducing this line of business to us and we look forward to cooperating further in the near future."
Mr. Edward Akkawi, President & CEO, replies: "We are delighted to have our strategic partner in Korea achieve such a notable success and look forward to further developing this relationship to our mutual benefit."
About Simulation Technologies (www.simulationtech.co.kr)
Simulation Tech Inc (STI) was established in 2001 to act as engineering solution provider knowledge based company. From the beginning, STI has been developing various technology-intensive products in the field of process simulators, control system engineering, and factory automation for marine and offshore industries.
About Earth (Canada) Corporation (www.earthcanada.com)
EARTH (Canada) Corporation, listed on the TSX Venture Exchange (TSX-V: EAR), is a world leader in the development of leading edge technologies for hydrocarbon remediation. Through the use of EARTH's proprietary RPA(r) and TORR(tm) technologies, EARTH's mission is to promote worldwide sustainable environmental technologies for treating and preventing oil pollution problems.