Printer Friendly
The Free Library
19,595,263 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Aqua Xtremes Announces Joint Venture.


RENO, Nev. -- Aqua Xtremes Inc., a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 of Nova Communications Ltd. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
: NVAC NVAC National Vaccine Advisory Committee
NVAC National Visual Analytics Center (DHS)
NVAC National Vendor Access Center (Sprint)
NVAC National Veterans' Advisory Committee
), announced that it has successfully completed an agreement with Rotary Engines rotary engine, internal-combustion engine whose cycle is similar to that of a piston engine, but which produces rotary motion directly without any conversion from reciprocating motion.  Inc.

This agreement has created a joint venture which provides for the sharing of engine-manufacturing technology proprietary information, vendors and licensing, and includes the exploration of related areas of mutual interest. In addition, Aqua Xtremes purchased, from Rotary Engines, several pieces of high-speed production equipment to be utilized by Aqua in the production of its line of rotary motors.

Rotary Engine Inc. has built their proprietary technologies over the years utilizing developments and research from Rotary Power Rotary Power is an engineering company based in Newcastle upon Tyne, UK, and designs and manufacturers hydraulic motors and pumps. It is a division of British Engines Ltd, also based in Newcastle, formed in 1922. Rotary Power was previously named RHL hydraulics.  International, John Deere and Curtis-Wright, which they had acquired. REI's main objective is the development of co-generation, and large marine diesel engines.

Art Robins and Larry Cooper, CEOs of their respective companies, issued a joint statement. "Our joining in this venture allows each company to focus on its specific expertise, while expanding into other areas jointly.

"Individually we each have approached the rotary technology from different points of view, and, now, by combining our respective knowledge and resources, we will save both time and money in developing our respective engines, while entering into other markets sooner."

Presently, both companies are developing a working outline to enter into another series of ventures, which fall into their respective areas of manufacturing, marketing, and development of new products.

Cautionary Statement for the Purpose of the Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Provisions 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: Forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 in this news release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changed economic or business conditions, the impact of competition, the success of existing and new product releases, the management of our growth, other risk factors inherent in the telecommunications industry, and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.

Nova Communications has and continues to institute changes to its strategies, operations and processes to address these risk factors and to mitigate their impact on Nova Communication's results of operations and financial condition. However, no assurances can be given that Nova Communications will be successful in these efforts.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:May 18, 2005
Words:387
Previous Article:Bacardi Ltd. Announces CEO Transition, Chairman Plans.
Next Article:Praxair, Inc. Selects TomorrowNow for Maintenance and Support of J.D. Edwards Applications Worldwide; Praxair Joins Growing List of TomorrowNow...
Topics:



Related Articles
Nova Communications: Aqua Xtremes Signs Up Two XBoard Distributors.
Aqua Xtremes Signs Up XBoard Dealership In Texas, Receives Orders For 80 XBoards.
XBoard Launched to the World at Ft. Lauderdale International Boat Show.
Aqua Xtremes Signs Up Calif. Distributor, Receives Order For 125 XBoards.
Aqua Xtremes Outlines Plans For XBoard Production.
Nova Communications CEO to Retire and CEO of Aqua Xtremes Appointed to Lead Company, New Board Members Announced.
Nova Communications LTD Acquires Minority Interest in Aqua Xtremes Inc.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles