Biocube manufactures a unique line of modular biofilters for odour control in the small to intermediate airflow range and has more than 300 systems installed worldwide. Biocube's sales in fiscal 2004 were CDN$3.0 million (US$2.4 million) and the purchase price was approximately one times annual sales, settled in cash. All seven full time Biocube employees have been offered positions at BIOREM Environmental Inc. The transaction is expected to be accretive to BIOREM fiscal 2005 earnings.
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