Chemonol, Ltd. Names EUROTECH's Alex Trossman Chairman and Appoint's EUROTECH's Prof. Oleg Figovsky to the Board.WASHINGTON--(BUSINESS WIRE)--July 14, 1999-- On Tuesday, July 13, the board of directors of Chemonol, Ltd. elected Alex Trossman Chairman and Prof. Oleg Figovsky as a director. Alex Trossman is vice president and operations manager See datacenter manager. and Prof. Oleg Figovsky is vice president for research and development of EUROTECH's Israeli operation. This follows the acquisition of additional stock by EUROTECH (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BB:EURO) bringing the total undiluted shares to 45% of Chemonol, Ltd. stock (36% diluted). Chemonol developed one of the six technologies, hybrid non-isocyanate polyurethanes -- ready for licensing -- presently supported by EUROTECH, Ltd. under the Incubator program in Israel. The company is currently engaged in negotiations for licensing this promising breakthrough technology. Hybrid nonisocyante polyurethane polyurethane Any of a class of very versatile polymers that are made into flexible and rigid foams, fibres, elastomers (elastic polymers), surface coatings, and adhesives. is a polyurethane made by a new method of production that does not use the toxic materials like methyl isocyanate methyl isocyanate n. A crystalline compound, C2H3NS, used as a pesticide. that was responsible for the 2,500 estimated deaths in Bhopal, India. In additional to improved production safety the new nonisocyanate process also generates a stronger polymer with the same or lower cost. The product presents serious competition to the conventional polyurethane market because the nonisocyante polyurethane has superior properties to conventional polyurethanes and has many more applications than conventional polyurethanes. EUROTECH Ltd. is a diversified technology holding company formed to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. business opportunities through the acquisition and commercialization of advanced technologies developed by prominent research institutes and individual researchers worldwide. Certain information and statement included in this release constitute "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. " within the meaning of the Federal Privates Securities 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. Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements. |
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