Clean Systems Technology Group Adds Significant Revenue Streams With Advanced New Process Tools.Business Editors KIRYAT GAT, Israel & NEW YORK--(BUSINESS WIRE)--June 24, 2003 Clean Systems Technology Group Ltd ("CSTI CSTI Conseil Stratégique des Technologies de l'Information CSTI California Specialized Training Institute CSTI Civil Space Technology Initiative CSTI Client Server Technologies, Inc. ") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CSTM CSTM Centrale Syndicale des Travailleurs Martiniquais (French: Central Union for Martinique Workers) CSTM Certified Software Test Manager (IIQM & STQC) CSTM Customer Service Team Member .OB), a leading provider of ultra-high purity systems for the high-tech and biopharmaceutical industries, today announced plans to open up significant additional revenue streams with two new tools for the Outside Vapor Desposition (OVD OVD Overdrive OVD Optical Variable Device OVD Outside Vapor Deposition OVD Overdue OVD Oracle Virtual Directory OVD Ophthalmic Viscosurgical Device (viscoelastic solution used in eye surgery) ) process. These tools, together with the advanced Modified Chemical Vapor Deposition (MCVD MCVD Modified Chemical Vapor Deposition MCVD Mixed Collagen Vascular Disease ) process tools already developed by CSTI, will enable the Company to offer a broader and more advanced total solution to the multi-billion dollar fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber market. As already announced on May 12, 2003, the Company has submitted bids for contracts totaling $80 million to implement these sophisticated total solutions in a number of leading multi-national companies. These advanced OVD and MCVD tools are integral to the manufacturing of fiber optics used in a growing range of important applications, such as secure military communications, high-speed global telecommunication networks, closed circuit TV networks, and telemetry. The new tools, a Vaporizer va·por·iz·er n. A device used to vaporize medicine for inhaling. vaporizer part of the apparatus used to deliver volatile anesthetic agents to patients. and Burner, reduce thermal stress and corrosion, and offer several advantages over current products on the market, including improved operating efficiency and safety, reduced downtime and production costs, and improved fiber optic quality. They are currently being developed in the Company's state-of-the-art facilities in Milan, Italy, under the leadership of Mr. Mauro Pisati, R&D Manager of Clean Systems Technology Fiber Srl, CSTI's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . "We believe that our new leading-edge process tools provide significant efficiency advantages over other systems currently available," said Jacob Lustgarten, 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 CSTI. "They will play a key role in our strategy to offer our customers a total solution using the most technologically advanced tools in the industry." About Clean Systems Technology Group Ltd. Founded in 1995, CSTI is a leading provider of specialized total solutions for ultra-high pure gas and chemicals delivery systems that perform a mission-critical role in several multi-billion dollar industries, including micro-electronics, semiconductors, fiber optics, pharmaceuticals, and biotechnology. CSTI's total solution includes the engineering, design, manufacturing, installation and servicing of these systems. With approximately 70 employees, CSTI has offices in Israel and Italy serving clients around the world, including Europe, Israel, India, and the USA. For more information, please contact Martin Charles, at 011-972-66-386703 or investor.relations@cstigroup.com or visit us on the Web at www.cstigroup.com. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those discussed in such forward-looking statements based on a variety of factors. Other risks are reflected in the company's filings with the Securities and Exchange Commission. |
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