KIRKLAND LAKE, ONTARIO--(Marketwire - Oct. 11, 2012) - LES EXPLOSIFS NORDEX LTEE/NORDEX EXPLOSIVES LTD. ("Nordex" or the "Corporation") (TSX VENTURE:NXX) is pleased to announce the opening of the first of several planned strategic distribution sites. The facility is located approximately 25 kilometers from Huntsville, Ontario.
The growth strategy for Nordex previously identified the need for additional distribution sites to increase our geographic radius of operations. The Muskoka site was chosen as the preferred location for the development of the first of several such key distribution facilities. The estimated market potential within a 200 kilometer radius of this location is $25,000,000. This represents existing annual explosive sales to key quarry, construction and mining companies.
The completion of the site will allow Nordex to expand its business beyond its traditional market area and pursue more opportunities with existing and potential clients in a new region.
Jim Taylor, President & CEO, stated; "We have been working on this initiative for many months and it is a major milestone in the strategic growth plan of Nordex to finally open the first of our new satellite site locations. All of the necessary licenses and permits are in place and we are now positioned to compete for our market share in a new geographic area."
Nordex continues to develop a reputation for providing the best technical support and client service in the explosive industry. In addition, Nordex has developed and operates its own fleet of specialty vehicles to support the sale and timely delivery of its products and services.
Nordex is recognized as an innovator and leader in the field of bulk and packaged emulsion products. This includes the development of unique bulk emulsion delivery systems for both surface and underground applications. As the market continues to move towards a wider acceptance of new technology and product solutions Nordex expects to acquire an increased share of the explosives market. Negotiations are ongoing with potential clients, satellite sites are being established, technology to manufacture new products is being developed and the outlook for the future continues to be promising.
The Muskoka site is the first of three such locations expected to be added by the end of 2013.
ABOUT NORDEX EXPLOSIVES: LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. is a manufacturer and distributor of explosives for the mining, quarry and road construction industries since 1970. Its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario. Nordex is the exclusive supplier of the Econotrim and Ezicharge Johnex explosive products in Canada. Nordex trades on the TSX Venture Exchange under the symbol "NXX".
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