CalciTech Signs MOU with Novaky Chemical.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--April 2, 2001 CalciTech Ltd (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CLKTF) (CDNX CDNX See Canadian Venture Exchange (CDNX). :CLK CLK Clock CLK Clerk CLK CDC2-Like Kinase CLK Corel RAVE (file extension) CLK Chep Lap Kok (Hong Kong airport) CLK Ceska Lekarska Komora (Chech) ) is pleased to announce that CalciTech Ltd and Novaky Chemical Company A.S. have signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. for the formation of a joint venture company in the Slovak Republic to recycle waste carbide lime and flue CO2 into Precipitated Calcium Carbonate calcium carbonate, CaCO3, white chemical compound that is the most common nonsiliceous mineral. It occurs in two crystal forms: calcite, which is hexagonal, and aragonite, which is rhombohedral. "PCC PCC prothrombin complex concentrate. ". PCC is a white filler pigment used in paper, paint, polymers, food and pharmaceuticals. Global demand is estimated at 6 Mt, growing at 5% pa. Novaky generates carbide lime as a by-product from ongoing acetylene acetylene (əsĕt`əlēn') or ethyne (ĕth`īn), HC≡CH, a colorless gas. It melts at −80.8°C; and boils at −84.0°C;. production and so far has accumulated approximately 1.5 Mt in temporary storage. The primary concern associated with carbide lime is its high alkalinity al·ka·lin·i·ty n. The alkali concentration or alkaline quality of a substance that contains alkali. alkalinity 1. the quality of being alkaline. 2. with its potential environmental impacts to soil and groundwater. This waste material has become the prime target of Novaky's environmental risk management program and the CalciTech PCC process was solicited to provide a sustainable solution. The establishment of a joint venture company will follow confirmation of its technical feasibility. This final confirmation is necessitated by the fact that Novaky carbide lime contains some unusual contaminants due to use as a neutralizing agent prior to temporary storage. Joos Gerlings, CalciTech Technical Director commented, "I am looking forward to demonstrate once more that our process is as robust as we claim by eliminating all impurities to produce top quality PCC." The joint venture, which will be controlled by CalciTech, will build a commercial plant with a capacity of 40,000 tpa and is expected to qualify for environmental grants and certain investment incentives within the Slovak Republic. This plant will allow CalciTech to accelerate the penetration of PCC in the central European market place. This press release contains forward-looking statements which are subject to a number of contingencies and uncertainties, including but not limited to, market acceptance for CalciTech products, manufacturing of CalciTech products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could change. No Stock Exchange has reviewed or accepted responsibility for the adequacy or accuracy of this press release. |
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