(image: GCP Applied Technologies Inc.)
CAMBRIDGE, Mass., March 10 (Korea Bizwire) — GCP Applied Technologies Inc. (NYSE: GCP), a leading global provider of construction products technologies, today announced that it has reached an agreement with Pan-United Concrete Pte. Ltd., a wholly-owned subsidiary of Singapore-listed Pan-United Corporation Ltd., the country’s largest concrete and cement provider. The agreement implements GCP’s VERIFI® in-transit concrete management system for use in more than 300 of Pan-United’s fleet of concrete mixer trucks in the Singapore market.
“Our agreement with Pan-United is an important step in expanding the global reach of our VERIFI® in-transit concrete management system and strengthening our position in the Asia Pacific market,” said Dr. Boudewijn Van Lent, GCP’s EVP of Specialty Construction Chemicals. “Pan-United is a global leader and proven concrete technology innovator, and we are pleased to build our partnership and continue to improve the quality, consistency and efficiency of how concrete is delivered.”
The VERIFI® in-transit concrete management system provides sophisticated, automated process monitoring and control during transit from the ready-mix concrete plant to the jobsite by using sensors installed on concrete mixer trucks to monitor, measure and manage concrete properties in-transit. The VERIFI® system offers a new level of concrete quality control and helps increase product consistency from one truck to the next to reduce rejected loads, increase jobsite efficiency and minimize costly project delays. In addition, the technology offers several environmental benefits including the potential for less cement usage and reduced waste as well as increased fuel efficiency.
“The VERIFI® system is a breakthrough innovation in the construction industry. It sets higher standards for concrete quality, workability management and consistency. It also improves the productivity of our operations and demonstrates our commitment to sustainability,” said Mr. Ken Loh, Chief Operating Officer of Pan-United Corporation Ltd. “Pan-United is excited to expand the use of the VERIFI® system in our fleet. This is an important step in leading the way to driving innovation deeper into the concrete industry, while enhancing efficiency and providing sustainable solutions to our customers,” added Mr. Loh.
About GCP Applied Technologies
GCP is a leading global provider of construction products technologies that include admixtures and additives for concrete and cement, the VERIFI® in-transit concrete management system, high-performance waterproofing products, and specialty construction products. GCP products have been used to build some of the world’s most renowned structures. More information is available at www.gcpat.com.
Investor Relations
Joseph DeCristofaro
T +1 617.498.2616
investors@gcpat.com
This announcement contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the context of the statement and generally arise when GCP or its management is discussing its beliefs, estimates or expectations. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “estimates,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. These statements are not historical facts or guarantees of future performance but instead represent only the beliefs of GCP and its management at the time the statements were made regarding future events which are subject to certain risks, uncertainties and other factors, many of which are outside GCP’s control. Actual results and outcomes may differ materially from what is expressed or forecast in such forward-looking statements. Forward-looking statements include, without limitation, statements about expected financial positions; results of operations; cash flows; financing plans; business strategy; operating plans; strategic alternatives; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; and markets for securities. Like other businesses, we are subject to risks and uncertainties that could cause our actual results to differ materially from our projections or that could cause other forward-looking statements to prove incorrect. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, risks related to: the cyclical and seasonal nature of the industries that GCP serves; foreign operations, especially in emerging regions; changes in currency exchange rates; the cost and availability of raw materials and energy; the effectiveness of GCP’s research and development, new product introductions and growth investments; acquisitions and divestitures of assets and gains and losses from dispositions; developments affecting GCP’s outstanding liquidity and indebtedness, including debt covenants and interest rate exposure; developments affecting GCP’s funded and unfunded pension obligations; warranty and product liability claims; legal proceedings; the inability to establish or maintain certain business relationships and relationships with customers and suppliers or the inability to retain key personnel; the handling of hazardous materials and the costs of compliance with environmental regulations; extreme weather events and natural disasters. These and other factors are identified and described in more detail in GCP’s Annual Report on Form 10-K, which has been filed with the U.S. Securities and Exchange Commission and is available online at www.sec.gov, and subsequent quarterly reports. Readers are cautioned not to place undue reliance on GCP’s projections and other forward-looking statements, which speak only as of the date thereof. GCP undertakes no obligation to publicly release any revision to its projections and other forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.
Source: GCP Applied Technologies Inc. via GLOBE NEWSWIRE
