New corporation GLV Inc starts its operations on August 13, 2007

Aug 10, 2007. /Lesprom Network/. The new corporation GLV Inc., consisting of the Water Treatment Group, the Pulp and Paper Group and the Manufacturing unit, officially starts its operations and its shares will be traded on the TSX at the opening of the markets on August 13, 2007. Shareholders are entitled to receive one new GLV share for each share held in the former GL&V, along with a per-share consideration of $33 in cash. Management confirms that the value of a new GLV share for distribution purposes is estimated at $8.82 and the value of the dividend and the reduction of capital for tax purposes are respectively estimated at $6.36 and $2.46 per class A subordinate voting share and at $8.44 and $0.38 per class B multiple voting share of GL&V. GLV Inc. was founded on May 15, 2007 to carry on part of the commercial activities of GL&V. GLV consists of two principal business segments. Its Water Treatment Group specializes in the design and marketing of solutions for the treatment of municipal and industrial wastewater and water used in various industrial processes, and also offers water intake screening solutions for power stations and desalination plants. Its Pulp and Paper Group specializes in the design and marketing of equipment used in various stages of pulp and paper production, notably chemical pulping, pulp preparation and sheet formation, and is a recognized leader in rebuilding, upgrading and optimization services for existing equipment, as well as the sale of replacement parts. Finally, a Manufacturing unit specializes in the production of large custom-made parts for external customers involved mainly in the pulp and paper and energy sectors, as well as for the Pulp and Paper Group. GLV is present in some 30 countries and has close to 1 500 employees.