Alanco to export air pollution control products to China.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nov. 28, 1995--Alanco Environmental Resource 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 :ALAN) Tuesday announced the signing of two Letters of Intent during a recent trip to China by Alanco's senior management. A Letter of Intent was signed between Alanco and Hangzhou Steel of Hangzhou City, People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, for the purchase of a total of two C.D.S D.S Drainage Structure (flood protection) .I. units. A second Letter of Intent signed with the Deputy Mayor of Benxi City and with Benxi Boiler Works represents the first step in a long-term relationship in which the city will utilize Alanco's technology in the enforcement of environmental standards for both particulate par·tic·u·late adj. Of or occurring in the form of fine particles. n. A particulate substance. particulate composed of separate particles. and SO2 emissions. The agreements represent the commercial acceptance by China of Alanco's Charged Dry Sorbent sorbent /sor·bent/ (sor´bent) an agent that sorbs; see absorbent and adsorbent. sorbent an agent that sorbs. Injection (C.D.S.I.) advanced air pollution control technology. After attending ribbon cutting and demonstration ceremonies at the Dezhou Heat and Power Plant, site of Alanco's C.D.S.I. in China, officials of Hangzhou Steel were convinced of the capabilities and cost effectiveness of Alanco's C.D.S.I. technology. The project in Hangzhou calls for the installation of two C.D.S.I. systems priced at $100,000 each. The project will be completed in two phases, one phase for each boiler arrangement at their facility. The first phase is targeted for completion in late April or early May 1996. Hangzhou is a well regarded tourist area in China, featuring the famous West Lake. This has resulted in extreme pressure both publicly and officially to make Hangzhou a model environmental area in China. Benxi City at times has been nicknamed "the city the satellites can't see." The city is surrounded by mountains and during the cold winter months when temperature inversion temperature inversion, condition in which the temperature of the atmosphere increases with altitude in contrast to the normal decrease with altitude. When temperature inversion occurs, cold air underlies warmer air at higher altitudes. becomes a problem, the pollution that is trapped in the city becomes so thick that the satellite photographs pick up only a white haze. Currently the annual emission of 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. in Benxi is greater than 105,000 tons, while particulate emission exceeds 1.5 million tons per year. Benxi has recently acquired funding in the amount of $100 million (U.S.) for implementation of pollution control equipment. This funding is granted as long-term loans to aid the city of Benxi to meet its commitment to Agenda 21, the Chinese Premier's environmental clean-up plan for the 21st century. The city of Benxi has filed an "Application of Preferred Project in 21st Century Agenda." The application cites the use of Alanco's advanced technologies to remediate re·me·di·a·tion n. The act or process of correcting a fault or deficiency: remediation of a learning disability. re·me the environmental problems facing their city. Under the terms of the Letter of Intent signed with the city of Benxi and the Benxi Boiler Works, Alanco will cooperate with both entities in the introduction of a full line of air pollution control products to the City of Benxi and agrees to use Benxi as an operations base for the northeast region of China. Alanco will provide its technologies and contract with Benxi Boiler Works for all manufacturing and installation of equipment in Northeast China Northeast China (Simplified Chinese: 中国东北; Traditional Chinese: 中國東北; Pinyin: on a joint venture basis. The city of Benxi alone represents a potential market of 60 to 180 C.D.S.I. units which could represent $6 million to $27 million in gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. to Alanco for C.D.S.I. equipment alone. In addition, the city of Benxi has requested that Alanco provide its other technologies such as Cyclones, Bag Houses and Alanco's patented Environmental Dry Scrubber System to the city of Benxi. CONTACT: Alanco Environmental Resource Corp., Scottsdale Shareholder Relations, 602/874-0448 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion