UPDATE 1-GLV’s European water treatment units post qtrly losses

* Says two divisions posted $8.5 mln oper loss

* Cites higher costs, incomplete contracts

* Shares fall 3 percent

Oct 26 (BestGrowthStock) – Canada’s GLV Inc’s (GLVa.TO: ) two
European units of its Water Treatment Group posted quarterly
operating loss of $8.5 million, partly hurt by higher costs in
completing certain contracts, sending its shares down 3
percent.

GLV, which makes plant equipment for water treatment and
pulp and paper production, said its United Kingdom division
incurred a $7.1 million operating loss before amortization for
the quarter ended Sept. 30, hurt by reassessment of costs.

The company said approval processes, order booking controls
and cost estimations were being reassessed for the entire
corporation.

Another European division posted a loss of $1.4 million, as
it could not complete existing municipal contracts before GLV
bought and privatized Austria’s Christ Water Technology in June
this year.

Shares of the Montreal, Quebec-based GLV, which have lost
nearly a fourth of their value in the last six months, fell 26
Canadian cents to trade at C$7.22 Tuesday morning on the
Toronto Stock Exchange.
(Reporting by Abhiram Nandakumar in Bangalore; Editing by Vyas
Mohan)

UPDATE 1-GLV’s European water treatment units post qtrly losses