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January 19, 2004
Trojan to purchase 51% interest in US Peroxide
LONDON, ONT-Trojan Technologies plans to acquire a 51% interest in US Peroxide, LLC of Laguna Niguel, California. The $5.2 million (U.S.) purchase will expand Trojan's range of integrated solutions for water and wastewater treatment, enabling the company to offer new products in an existing market. US Peroxide is the largest North American supplier of hydrogen peroxide (H2O2) for environmental service applications, particularly odor reduction and corrosion control in municipal wastewater treatment applications. The firm also offers equipment and services related to the use and monitoring of hydrogen peroxide. Trojan uses hydrogen peroxide in its environmental contaminant treatment (ECT) systems, which are designed to destroy chemicals found in contaminated water supplies. "US Peroxide's customer-focused strategy and product offering fits well with our company," stated Marvin DeVries, President and CEO of Trojan Technologies. Trojan intends to purchase 34% and the remaining 15% interest in US Peroxide in 2007 and 2009, respectively, provided certain performance targets are reached.