Alanco Awarded Beijing Power Company Contract for CDSI Installation.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--March 2, 1999--Alanco Environmental Resources 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 : ALANC) Tuesday announced that its China subsidiary, Alanco Environmental Technology (Beijing) Co., Ltd., has been awarded a contract by Beijing energy Power Company (BEP BEP Black Eyed Peas (band) BEP Brevet d’Études Professionnelles (French: vocational qualification) BEP Business Entry Point BEP Break-Even Point BEP Bit Error Probability BEP Bureau of Engraving & Printing ) to install one CDSI CDSI Comisión de Estudio para el Desarrollo de la Sociedad de la Información CDSI Cross Domain Semantic Integration CDSI Credit Default Swap Index system to reduce sulfur dioxide sulfur dioxide, chemical compound, SO2, a colorless gas with a pungent, suffocating odor. It is readily soluble in cold water, sparingly soluble in hot water, and soluble in alcohol, acetic acid, and sulfuric acid. emissions at their coal-fired power generation facility located near the Beijing International Airport. Total value of the BEP contract is approximately $200,000. Alanco Beijing also disclosed that it expects an additional contract award of approximately $750,000 within 60-90 days, from Quzhou Chemical Company (QC), located in Quzhou, Zhijiang province. The order is for four to five integrated CDSI systems to be installed in conjunction with a coal-fired boiler desulfurization project. QC is the second largest company in Zhijiang province with approximately 30,000 employees. The Chinese government is accelerating various anti-pollution programs, particularly targeting sulfur dioxide emissions. China Minister of Environmental Protection, Xi Zhenhua recently commented, "A policy of 'total control' of sulfur dioxide in cities will be strictly carried out. The goal is to ensure that the country's controlled zones of acid rain and sulfur dioxide will not spread by the end of 2000." Alanco Environmental Resources Corp. is an Arizona corporation headquartered in Scottsdale, primarily engaged in the environmental products and food service businesses. The company's wholly-owned subsidiaries include Fry Guy, Inc., (Scottsdale); Alanco Environmental Manufacturing Inc. (AEMI AEMI Auction & Electronic Market Integration (American Stock Exchange) AEMI Annual Exchange of Military Information , Falls City, Neb.); and Alanco Beijing Environmental Technology Co., Ltd. (Beijing, China). Alanco is traded on the NASDAQ stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol ALANC. Note to Editors: This press release contains statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are inherently uncertain and the actual results may differ from management's expectations. |
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