We are also optimistic about our environmental services segment. In 2013, we intend to build on our Aqua-Pipe® technology and grow our services both in Quebec, where we install our structural lining, and outside of the Province, where we work through a select group of licensees. Although municipalities are somewhat financially constrained, there remains a huge need to repair underground drinking water pipes in North America. It has been shown that 40% of North America's drinking water is lost through existing infrastructure and this statistic is getting worse every year. Traditional methods of excavation and rebuilding are far costlier repair methods and our technology thus bodes well for the future. Our site remediation services are also promising given the continued desire to clean up the environment. We have built a strong team of experts who can find solutions for virtually all types of environmental contaminants and are expanding our services geographically, with the Arctic and France showing new revenue in the last few years. Finally, our woven-hose manufacturing business, which was purchased to secure the growing needs of our aqueduct rehabilitation services, continues to diversify its customer base. In 2013, it successfully launched a new product for the shale gas industry, a market which is expected to undergo strong growth in the coming years," indicated Madeleine Paquin, President and Chief Executive Officer of Logistec Corporation.
"All in all, we are confident we will continue to develop both our marine and environmental services segments, on the strength of our highly dynamic team of experts who are customer-oriented and consistently bring value to a growing customer base," concluded Ms. Paquin.
Logistec Corporation is based in Montreal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 24 ports in Eastern Canada, the Great Lakes and the U.S. East Coast. Logistec also offers marine transportation services geared primarily to the Arctic coastal trade, short-line rail transportation services, as well as marine agency services to foreign shipowners and operators serving the Canadian market. Furthermore, the Company operates in the environmental sector where it provides services to industrial, municipal and other governmental customers for the trenchless structural rehabilitation of underground water mains, PCB management, site remediation, risk assessment, and woven-hose manufacturing.
The Company has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years. A public company since 1969, Logistec's shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B. More information can be obtained at the Company's website at www.logistec.com.
For the purpose of informing shareholders and potential investors about the Company's prospects, sections of this document may contain forward-looking statements, within the meaning of securities legislation, about the Company's activities, performance and financial situation and, in particular, hopes for the success of the Company's efforts in the development and growth of its business. These forward-looking statements express, as of the date of this document, the estimates, predictions, projections, expectations or opinions of the Company about future events or results. Although the Company believes that the expectations produced by these forward-looking statements are founded on valid and reasonable bases and assumptions, these forward-looking statements are inherently subject to important uncertainties and contingencies, many of which are beyond the Company's control, such that the Company's performance may differ significantly from the predicted performance expressed or presented in such forward-looking statements. The important risks and uncertainties that may cause the actual results and future events to differ significantly from the expectations currently expressed are examined under "Business Risks" in the Company's annual report and include (but are not limited to) the performances of domestic and international economies and their effect on shipping volumes, weather conditions, labour relations, pricing and competitors' marketing activities. The reader of this document is thus cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to update or revise these forward-looking statements, except as required by law.
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