CEM SIGNS TECHNOLOGY AGREEMENT WITH ISRAEL-BASED COMPANY; REPRESENTS STRATEGIC EXPANSION OF MARKETING PROGRAM.CHARLOTTE, N.C.--(BUSINESS WIRE)--Aug. 20, 1996--CEM Corporation (Nasdaq/NM:CEMX) today announced that it has completed a worldwide licensing agreement for the development and marketing of instruments utilizing a new technology that enables an extremely rapid testing for bacteria in raw milk . Standard procedures currently conducted by the dairy industry require at least 24 hours, but the licensed technology determines quantities of bacteria in a few minutes. In addition, the agreement reached with Sirotech Ltd., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Israel, includes the purchase by CEM CEM contagious equine metritis. CEM selective medium chocolate agar made with Eugon agar and 5% horse blood; used to cultivate Taylorella equigenitalis. of a minority interest in Sirotech. Joint development of the first commercial product has begun, and the initial system is expected to be introduced in approximately one year. "This agreement represents an exciting opportunity to capitalize more fully on our existing marketing organization," remarked Michael J. Collins, President and Chief Executive Officer. "Through the development of a series of innovative and proprietary instruments, CEM has established a strong presence in the dairy industry. Our strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. has clearly identified the potential to broaden our marketing program to include other instruments and systems related to the uses of the Company's microwave-based systems. The agreement with Sirotech directly addresses this opportunity. We will be acquiring licensing rights to an exciting new technology based on the measurement of electrical impedance electrical impedance Opposition that a circuit presents to electric current. It includes both resistance and reactance. Resistance arises from collisions of the current-carrying charged particles with the internal structure of the conductor. . Our joint product development plans include incorporating this technology into instruments that will allow commonly performed testing procedures to be completed much faster and more efficiently than current technology." Collins added, "We believe that there is a well defined opportunity to utilize the technology developed by Sirotech to provide users with a system that allows virtually instantaneous in·stan·ta·ne·ous adj. 1. Occurring or completed without perceptible delay: Relief was instantaneous. 2. measurements. Our initial development effort will be focused on an instrument for measuring the amount of bacteria in raw milk. We are confident that our proven competitive standing in the dairy industry will facilitate the marketing of this system. Later, we will explore advancing the technology to determine bacteria levels in other liquids." CEM manufactures microwave-based instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. for testing, analysis and process control. The Company's products are used worldwide in the general analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. laboratory market and in many manufacturing and processing industries, including chemical and food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. . CONTACT: CEM Corporation, Charlotte Michael J. Collins, 704/821-7015 |
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