ABCC receives $1.8 million order for paint dispensing systems; record $4.6 million in paint orders received to date in fiscal 1996; renegotiated contracts allow direct marketing to paint & chemical coatings markets.AKRON, Ohio--(BUSINESS WIRE)--Dec. 11, 1995--American Business Computers Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABCC ABCC Advanced Biomedical Computing Center ABCC Atomic Bomb Casualty Commission ABCC Alcoholic Beverages Control Commission (Massachusetts, USA) ABCC American Board of Clinical Chemistry ABCC Association of British Chambers of Commerce ) announced today that it has received a $1.8 million order for its high volume paint dispensing dispensing provision of drugs or medicines as set out properly on a lawful prescription. A prescription can only be filled, the drugs supplied, by a registered pharmacist, veterinarian, dentist or member of the medical profession. systems, bringing paint dispenser orders to a record $4.6 million in the current fiscal year and the company's total backlog to $9 million. Shipments for the order are scheduled to begin in the final quarter of the current fiscal year and subsequent orders for paint dispensing systems are expected. ABCC's automated paint dispensing systems feature a patented technology which makes its dispensers unique as the only systems that totally purge To eliminate or delete. after each color formulation has been dispensed. The company also announced that it has renegotiated its exclusivity contracts for the domestic paint and chemical coatings industries. The paint contract has been extended to April 1997 and amended to allow American Business Computers to market both its high volume and small scale automated paint dispensers directly to paint retailers nationwide. Previously, ABCC had to rely on one major paint producer to market its dispensing systems. In the chemical coatings market, ABCC's technology offers the state-of-the-art efficiency and accuracy for dispensing precise measurements of chemical coatings and is designed to be intrinsically safe Intrinsically safe is an attribute applied to electrical equipment that is designated for use in explosion-prone areas. In normal uses, electrical equipment often creates internal tiny sparks in switches, motor brushes, connectors, and in other places. for dispensing solvent-based chemicals. The company's renegotiated chemical coatings agreement allows it to market its unique dispensing system directly to potential automotive, printing, paint and other potential customers in the U.S., Canada and Mexico. Commenting on the renegotiated agreements, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert A. Cutting said: "American Business Computers now has direct access to major markets for our products and no longer has to rely on an exclusive partner to sell our growing line of custom designed automated dispensing systems in the multi billion dollar paint and chemical coatings markets. These new agreements substantially broaden our market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" prospects. With our backlog at three times last year's sales, 1995 is proving to be a breakthrough year in ABCC's commercialization strategy." American Business Computers Corp. is engaged in research, development and commercialization of automated dispensing technologies with broad industrial applications. CONTACT: American Business Computers Corp. Sylvia Dresner, 212/575-6567 |
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