Aquatic Cellulose Announces Strategic Alliance with Oregon Canadian Forest Products to Expand AQCI's North American Market Presence.Business Editors VERNON, British Columbia--(BUSINESS WIRE)--Feb. 27, 2002 Aquatic Cellulose (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AQCI), a leader in the emerging underwater timber industry, today announced that it has reached an agreement with Oregon Canadian Forest Products (OCFP OCFP Ontario College of Family Physicians (Canada) ) to create a strategic alliance that is expected to strengthen AQCI's presence in the North American market. This alliance allows Aquatic Cellulose and Oregon Canadian to combine each other's unique strengths into a single product for both companies' residential and commercial customers. Under the alliance, Oregon Canadian, a leading US based lumber remanufacturer, will purchase AQCI's underwater-harvested Brazilian redwood lumber for processing into Clear Choice Decking(TM). Oregon Canadian will exclusively market and distribute the new and eco-friendly product throughout North America. "AQCI's premium quality hardwoods are a perfect source material for our new line of Clear Choice Decking(TM) products," said Steve Getsiv, Hardwood Lumber Manager of Oregon Canadian. "The alliance will benefit both our companies and customers by combining our remanufacturing, marketing and distribution strengths in North America with AQCI's submerged forest resources in Brazil." "With the Industry moving away from lumber treated with chromated copper arsenate Chromated copper arsenate (CCA) is a wood preservative used for timber treatment, in use since the mid-1930's. It is a mix of copper, chromium, and arsenic formulated as oxides or salts. (CCA (1) (Common Cryptographic Architecture) Cryptography software from IBM for MVS and DOS applications. (2) (Compatible Communications A ), a wood preservative and known human carcinogen, our eco-friendly decking offers a premium-quality and preservative-free alternative that is poised to capture consumer interest and market share," said Gary Ackles, President and 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. of AQCI. "The alliance will leverage our market opportunity and enhance our sales and distribution of other eco-friendly lumber products. We look forward to this expanded relationship." Aquatic Cellulose reports that Oregon Canadian has processed an initial shipment of the Company's lumber. "AQCI's redwood exceeded our expectations. The finished product is both durable and visually stunning," said Getsiv. "We're excited about our planned product debut in the US and look forward to a mutually successful long-term relationship with Aquatic Cellulose." About Oregon-Canadian Oregon-Canadian Forest Products (OCFP) is a leading lumber remanufacturer headquartered in North Plains, OR. Privately owned with US$60 million in annual sales, OCFP specializes in high-grade West Coast softwoods, Southern Yellow Pine clears, and South American hardwoods. OCFP is the largest clear Douglas Fir manufacturer in the world and has recently introduced Clear Choice Decking(TM) and Clear Choice Flooring(TM). Oregon Canadian is Chain of Custody The movement and location of physical evidence from the time it is obtained until the time it is presented in court. Judges in bench trials and jurors in jury trials are obligated to decide cases on the evidence that is presented to them in court. certified under the Forest Stewardship Council The Forest Stewardship Council (FSC) is a non-profit organization based in Bonn, Germany. The Council's stated mission is "to promote environmentally appropriate, socially beneficial and economically viable management of the world's forests". and supports responsible and sustainable logging. The company operates manufacturing facilities in Oregon, South Carolina and the UK. About Aquatic Cellulose Aquatic Cellulose International Corp. (AQCI) is a leading supplier of underwater harvested hardwoods. The company operates in Brazil using a patented robotic-based underwater timber harvesting system. The Aquatic Timber Harvester (ATH) locates, cuts, and retrieves submerged timber with greater efficiency and safety than diver-based methods. AQCI specializes in the recovery and processing of this once lost resource to offer among the finest tropical hardwood products without impacting living rainforests. This press release contains statements that constitute forward statements, as defined in 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 inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that may cause or contribute to such differences include, among other things, the Company's dependence on one customer, seasonality of the Company's retrieval business and risk of future losses from operations. Other risks and uncertainties include changes in business conditions and the economy in general, changes in governmental regulations, unforeseen litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and other risk factors identified. The Company undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release. The NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). has neither approved nor disapproved of the information contained herein. |
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