NEWSCENTER
PRESS RELEASE:
POWER TECH CORPORATION
INC.
PRESS RELEASE
THE AECON GROUP, ONE OF THE LARGEST CONSTRUCTION
COMPANIES IN CANADA, PURCHASES FOUR "PICBUCKET" UNITS
FROM POWERTECH
This firm order from a major player
is strong recognition of the value of PowerTech's technology
Blainville (Quebec),
Monday, October 24, 2005 – Mr. Carol Murray,
President and Chief Executive Officer of Power Tech Corporation
Inc., "PowerTech" or "Company" (TSX-V:
PWB), is pleased to announce that the Aecon Group, one of
the largest construction companies in Canada, has just placed
a firm order to purchase four "PicBucket" units
from the Company's 2000 Series.
"We are very proud and honoured
that a company of Aecon's size and reputation, a leader in
Canada's construction industry, has chosen to buy our products.
We are even happier that before purchasing our "PicBucket" units,
Aecon had the opportunity to try out our technology for several
weeks as part of our V.I.PIC program. This testing period allowed
Aecon to verify and validate for itself the significant benefits
of our innovative technology," said Mr. Murray. In recent
weeks, Aecon used a "PicBucket" at various construction
sites in the Toronto region.
"We are very satisfied with
the results we have realized while using the 'PicBucket' and
its accessories. It has helped us perform our contracts
more efficiently and effectively by allowing us to complete
several functions and tasks without changing equipment. We
look forward to working with PowerTech in the future and enjoying
a competitive advantage thanks to the benefits of the PicBucket",
said Paul Pastirik, Aecon Vice-President of Corporate Development.
"This firm order from a
major player is strong recognition of the value of PowerTech's
technology. This marks an important milestone for our Company.
In addition, this agreement with Aecon demonstrates the success
of the V.I.PIC program. In the coming weeks, we intend to carry
out the next steps of our business development strategy. These
include, notably, the closing of a distribution agreement with
a major industry player," stated Mr. Richard Hélie,
PowerTech's Vice-President of Sales and Marketing.
Several other V.I.PIC program participants
"This program is a mutually
advantageous partnership proposal between PowerTech and select
players in the construction industry. Through this initiative,
PowerTech allows participating entrepreneurs to use the "PicBucket" at
a reduced fee for a set period. If they are satisfied, they
can then purchase it at a preferential price. In addition,
they can benefit from an excellent guarantee and financing
conditions. In return, participants would accept that the results
of their experience using the "PicBucket" and their
name be used in PowerTech's marketing efforts. Several other
entrepreneurs are currently participating in the V.I.PIC program.
We are confident that this dynamic marketing program will soon
generate other sales for PowerTech," added Mr. Hélie.
The "PicBucket", developed by PowerTech
using patented technology, is a flexible, multifunctional percussion
bucket that combines the power of a hydraulic hammer with the
stripping strength and maneuverability of a conventional bucket.
It can be used to carry out excavation, demolition, backfilling
and compacting work far more efficiently than traditional equipment.
The "PicBucket" can excavate all soil types at several
different angles of impact.
The buckets are shovels
located at the end of the mechanical arms of backhoes, "backhoe loaders",
on excavators and mini-excavators. "PicBucket" units
include, in addition to the bucket, interchangeable tools that
can be installed at the end of the bucket. These are "PicPins" a
three-point demolition device; the "PicBlade", a knife
for cutting and demolition; the "PicGrate", a flat
blade; and the "PicPlate", a plate for compaction
work.
About Aecon Group
Aecon Group Inc. (TSX: ARE) is Canada's largest
publicly traded construction and infrastructure development
company. With almost a century of experience, Aecon provides
design, build, operate, finance, procurement and development
services to the public and private sectors. Aecon's global
capabilities bring bold and innovative solutions to some of
the world's most complex projects through a unique approach
to partnering. By encouraging innovation and through leadership,
the Aecon team continues to build things that matter.
About PowerTech (www.powertechci.com)
PowerTech specializes in developing, integrating
and commercializing leading edge technologies allowing substantial
performance, productivity and functionality improvements in
excavation equipment and systems for the general construction
industry and several other applications in the aluminum, mining,
tunnel digging, forestry, archeology and military sectors.
* The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuray
of this press release
-30-
Source:
Power Tech Corporation Inc.
www.powertechci.com
For further information:
Mr. Carol Murray
President and Chief Executive Officer
Power Tech Corporation Inc.
Tel.: (450) 419-5400
Fax: (450) 419-5411
carol.murray@powertechci.com
Frédéric Tremblay
HKDP
Tel.: (514) 395-0375, ext. 234
ftremblay@hkdp.qc.ca
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