Energy Recovery: CEO statements not meant to imply talks with potential buyers

theflyonthewall.com

Energy Recovery issued the following statement: "On November 19, 2012, Chief Executive Officer Tom Rooney provided an interview to a representative of Bloomberg News. A wire story published subsequent to the interview incorrectly reported that Energy Recovery, Inc. is the subject of takeover interest. While the Company, as a matter of policy, does not comment on rumors, it feels compelled to correct the facts as reflected in the Bloomberg story. During the course of a telephone interview about the desalination industry in Chile and the global demand for water, Mr. Rooney acknowledged the increasing attractiveness of the business in response to a specific question regarding the Company as a potential acquisition candidate. Mr. Rooney did not imply, or intend to imply, that the Company was in discussions with potential buyers. In fact, Mr. Rooney stated that the Company has no interest in entertaining the notion of a potential acquisition at this time. Importantly, the Company remains intensely focused on the tenacious execution of its long-term strategy, the successful implementation of which should provide the greater benefit to its shareholders."

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