Catalytica Announces Sale of Advanced Sensor Devices.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--July 2, 1996--Catalytica, Inc. (Nasdaq: CTAL CTAL Confederacion de Trabajadores de America Latina (Confederation of Latin American Workers) CTAL Canadian Tire Acceptance Limited CTAL Computer Technology Application Lab, Inc. CTAL Confidentially Typed Assembly Language ) announced today the completion of the sale of substantially all the business of Advanced Sensor Devices, Inc. (ASD ASD abbr. atrial septal defect ASD Atrial septal defect, see there ). ASD produces continuous emission monitors (CEMs) based on proprietary catalytic sensors. The purchaser is a wholly-owned subsidiary of Monitor Labs, Inc. of Englewood, Colorado Englewood is a city in Arapahoe County, Colorado, USA. As of 2005, the city is estimated to have a total population of 32,350.[5] It is part of the Denver-Aurora Metropolitan Area. , a leading manufacturer of environmental monitoring instruments and integrator of continuous emissions monitoring systems. Monitor Labs is a member of the Bowthorpe Group which is headquartered in Crawley, U.K. The terms for substantially all of ASD's assets include a payment of approximately $1 million at the initial closing, an additional amount payable on obtaining final certification for the CEM CEM contagious equine metritis. CEM selective medium chocolate agar made with Eugon agar and 5% horse blood; used to cultivate Taylorella equigenitalis. product before year end, and a royalty stream based on future revenues. Commenting on the transaction, Ricardo B. Levy, president and chief executive officer of Catalytica, said, "Monitor Labs, a leader in continuous emission monitoring, is an advantageous base from which to pursue market opportunities for ASD's products. The sale will allow Catalytica Combustion Systems, Inc. to focus its entire effort on the development and commercialization of its innovative XONON(TM) systems which eliminate pollution from natural gas turbines. In addition, the divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). will contribute to Catalytica's improving financial performance." Catalytica, Inc. develops and produces advanced products that use proprietary catalytic technologies to lower manufacturing costs and reduce hazardous byproducts. In addition to the development of advanced combustion systems for the elimination of toxic emissions generated by natural gas turbines, Catalytica, through its 85 percent-owned subsidiary, Catalytica Fine Chemicals, Inc., develops and manufactures fine chemical building blocks for the pharmaceutical industry. This news release contains 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. reflecting Catalytica's current expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation product development delays, changes in demand for Catalytica's products, changes in environmental regulations, future levels of government funding for advanced turbine development, and competition. Investors are encouraged to review Catalytica's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1995 (Part II, Item 7) for a more complete discussion of factors that could affect Catalytica's future performance. -0- NOTE TO EDITORS: XONON is a trademark of Catalytica, Inc. Catalytica Web address: http://www.catalytica-inc.com CONTACT: Catalytica, Inc. Lawrence W. Briscoe (CFO See Chief Financial Officer. ), 415/940-6370, |
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