FORM 6-K
Securities and Exchange Commission
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the month of February 2003
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Marsulex Inc.
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(Translation of registrant's name into English)
111 Gordon Baker Road, Suite 300
North York, ON
M2H 3R1
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.
Yes No X
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DOCUMENT INDEX
Document Page No.
1. News Release dated February 12, 2003: "MARSULEX
AND BOC GROUP SIGN JOINT MARKETING AGREEMENT" 4
2 News Release dated February 24, 2003: "MARSULEX 7
AND SANTEE COOPER TO DEFER SCRUBBER PROJECT"
Document 1
NEWS RELEASE MARSULEX LOGO
MARSULEX AND BOC GROUP SIGN JOINT MARKETING AGREEMENT
Combined technologies provide cost-effective multi-pollutant solution
for electric utilities
TORONTO, February 12, 2003 - Marsulex Inc. (TSX: MLX) and the BOC Group (NYSE:
BOX) announced today that they have signed a joint marketing agreement that
will enable each company to offer electric utilities an integrated
multi-pollutant control solution that provides maximum compliance for
emissions of sulphur dioxide, sulphur trioxide, nitrous oxides, mercury and
other heavy metals in conjunction with ammonia based wet scrubbing. The
solution will combine a flue gas desulphurization system that utilizes
Marsulex's patented advanced sulphate scrubbing technology and BOC's award
winning LoTOx(TM) technology, a patented low temperature oxidization system
that removes NOx from waste gas streams.
In addition to effectively controlling multi-pollutant emissions of SO2, SO3,
NOx and mercury, the combined system can deliver very attractive economic
benefits through lower capital and operating costs.
President and Chief Executive Officer of Marsulex, David Gee, said the
agreement with BOC is an important development for the Company. "By partnering
with BOC which has excellent technology and a world class reputation, we have
added significant breadth to our multi-pollutant control technology offering.
Many utilities are faced with an urgent need to find cost effective controls
that meet environmental regulations for a range of pollutants, and this
combination of patented technologies is a compelling, integrated solution,"
Mr. Gee said.
Mr. Steve Eckhardt, General Manager of the LoTOx Group, said, " LoTOx(TM)
Solutions offer our customers significant capital cost savings by avoiding the
need to retrofit costly Selective Catalytic Reduction technology for NOx
removal, and maximizes compliance by removing as much as 95% of NOx, from flue
gases while at the same time reducing the generation of SO3. It works in
conjunction with a wet scrubber and the Marsulex advanced sulphate system is
proven technology that exceeds the most stringent compliance regulations.
Together, we can offer our customers a very effective and economically
attractive solution."
The value of installations of integrated emission control systems on
coal-fired power plants in the US alone is estimated at billions of dollars
over the next several years. Under the terms of the joint marketing agreement
between Marsulex and BOC, Marsulex's patented ammonium sulphate technology
will be the only ammonia scrubbing system promoted by BOC, and the BOC
LoTOx(TM) System will be the only NOx and low temperature oxidation
multi-pollutant control technology promoted by Marsulex.
-more-
-2-
About BOC
The BOC Group is one of the largest and most global of the world's leading
gases companies, serving two million customers in more than 50 countries. It
employs nearly 43,000 people and had annual sales of over US $6 billion in
2001. The LoTOx(TM) technology was the recipient of the 2001 Chemical
Engineering Magazine's Kirkpatrick award, granted every two years to honor
outstanding chemical engineering technology that has been successfully
commercialized through group effort.
About Marsulex
Marsulex, which is based in Toronto, Ontario, is a global provider of
outsourced environmental compliance solutions. The Company encompasses the
complete outsourcing of environmental compliance activities including the
ownership and operation of compliance assets.
####
For further information:
David M. Gee Laurie Tugman
President and CEO Executive Vice President & CFO
Tel: (416) 496-4178 Tel: (416) 496-4157
Document 2
NEWS RELEASE MARSULEX LOGO
MARSULEX AND SANTEE COOPER TO DEFER SCRUBBER PROJECT
TORONTO, February 24, 2003 - Marsulex Inc. (TSE: MLX) today said that due to
significant changes in financial markets, Santee Cooper, South Carolina's
state-owned electric and water utility, and Marsulex have mutually agreed not
to proceed at this time with the previously-announced project for Marsulex to
build and own a flue gas desulphurization system utilizing Marsulex's patented
advanced sulphate scrubber technology at Santee Cooper's Winyah Power
Generating Station located near Georgetown, South Carolina.
Under the agreement signed in April 2001, preliminary engineering had been
completed, equipment suppliers had been selected, firm fixed bids were in hand
for construction and permitting for the new facility was substantially in
place. As a result of change in the credit, construction and insurance markets
post September 11, 2001, the Company was unable to finance the project on a
non-recourse basis within the financial parameters originally contemplated.
The project cancellation will result in a write-off of capitalized project
related expenses of Cdn$9.5 million.
David Gee, President and Chief Executive Officer of Marsulex, said the Winyah
project was unique in that it was purely discretionary for Santee Cooper and
was not required for the generating plant to maintain regulatory compliance.
As a result, the project viability was very dependent on funding
considerations. "Unfortunately, the contracting and capital markets have
changed dramatically in the past 18 months, and we were unable to make
arrangements that were acceptable to both Santee Cooper and Marsulex. The
combination of EPC contractors no longer being prepared to provide adequate
guarantees and the difficulty in obtaining insurance to cover these risks
fundamentally changed the economics for financing large projects."
####
For further information:
David M. Gee Laurie Tugman
President and CEO Executive Vice President & CFO
Tel: (416) 496-4178 Tel: (416) 496-4157
SIGNATURES
Pursuant to the requirement of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
MARSULEX INC.
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(Registrant)
Date: February 25, 2003 By: /s/ Lucio Milanovich
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(Signature)
Lucio Milanovich
Director, Finance