Quebec Superior Court approves the arrangement between GL&V, its shareholders and FLSmidth & Co.

Jul 31, 2007. /Lesprom Network/. Groupe Laperriere & Verreault Inc. announces that the Quebec Superior Court has issued a final order approving the proposed plan of arrangement between GL&V, its shareholders and the Danish company FLSmidth (FLS), pursuant to which, and subject to certain other conditions, GL&V will transfer its Water Treatment and Pulp and Paper groups along with its manufacturing unit into a new corporation, GLV Inc. (New GLV) that will be spun off to GL&V's shareholders of record upon the closing of the transaction. Immediately thereafter, a Canadian subsidiary of FLS will acquire all Class A subordinate voting shares and Class B multiple voting shares outstanding of GL&V and thereby effectively own 100% of GL&V's Process Group. Pursuant to the Arrangement, each GL&V shareholder will receive a per-share consideration of $33 in cash and one share of New GLV. Holders of Class A subordinate voting shares and Class B multiple voting shares of GL&V will respectively receive one Class A subordinate voting share and one Class B multiple voting share of New GLV for each corresponding share of GL&V held. The Arrangement was approved by GL&V's shareholders at a special general meeting held on July 27, 2007, in a combined majority of 99.97% of the votes cast in the two share classes. The closing of the transaction will take place following certain regulatory approvals and once the other prerequisites to the closing have been met. Following the closing and the receipt by the transfer agent of the letter of transmittal along with the share certificates, GL&V's shareholders will receive their shares of New GLV and the per-share consideration of $33 in cash. GL&V's shares will eventually cease trading on the TSX Exchange and the New GLV Inc. will be listed on the TSX, under the ticker symbols LVG.A and LVG.B. Founded in 1975, GL&V is a world leader in liquid/solid separation technologies used in a large number of industrial, municipal and environmental processes. The Process Group, which is intended to be transferred to FLS pursuant to the terms of the Arrangement, offers an extensive selection of liquid/solid separation solutions intended for metal and minerals processing, as well as various other industrial markets such as pulp and paper, energy, chemicals, petrochemicals and food processing. The Water Treatment Group, which will be transferred to New GLV pursuant to the terms of the Arrangement, specializes in the development and marketing of equipment for the treatment of municipal and industrial wastewater, drinking water and process water used in various industrial processes, as well as water intake screening solutions for power stations and desalination plants. The Pulp and Paper Group, also to be transferred to New GLV pursuant to the terms of the Arrangement, 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 pulp and paper equipment. Finally, a Manufacturing unit, which will also be transferred to New GLV pursuant to the terms of the Arrangement, specializes in the production of large custom-made parts for external customers involved mainly in the pulp and paper and energy.