Custom Cryogenic Grinding Corp. reports first quarter, receives approvals for DeVulc and new orders for PVC.SIMCOE, Ontario--(BUSINESS WIRE)--May 30, 1996--CUSTOM CRYOGENIC cryogenic /cry·o·gen·ic/ (-jen´ik) producing low temperatures. cry·o·gen·ic adj. 1. Relating to or producing low temperatures. 2. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : CR) Custom Cryogenic Grinding  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Corporation (CCGC CCGC Canadian Coast Guard College CCGC Canadian Coast Guard Cutter ) today announced its results from operations for the three months ended March 31, 1996. Revenues for the 1996 first quarter were $1,576,144 compared with $1,570,436, for the same period in 1995. Net earnings for the 1996 three-month period were $25,681 ($0.003 per share), compared with $81,969 ($0.01 per share) for the 1995 period. "The first quarter results are as we had anticipated," said Dan Heffernan, President and Chief Executive Officer of CCGC. "As previously reported, significant investments were made during the second half of last year to establish the first North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. DeVulc (rubber devulcanizing) facility with our partner STI-K Polymers. In addition, the longer than expected approvals from the automotive companies for the use of DeVulc, have resulted in softer sales and earnings in the first part of 1996. However, I am pleased to report major orders recently received from suppliers to Ford and GM support our confidence that results will improve during the balance of the year." DEVULC AUTO PARTS Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
Several of CCGC's customers, large multinational automotive suppliers to the Ford Motor Company, have received confirmation that parts they produced with the test trial batches of DeVulc meet with all of Ford's stringent specifications. As a result, production-run parts made from CCGC's cryogenically ground rubber and DeVulc product will be used in Ford's test vehicles. CCGC will cryogenically grind 1. GRIND - GRaphical INterpretive Display. A graphics input language for the PDP-9. ["GRIND: A Language and Translator for Computer Graphics", A.P. Conn, Dartmouth, June 1969]. 2. factory scrap rubber using its proprietary process, then, using STI-K's revolutionary De-Link technology, devulcanize the rubber powder. The result is a recycled rubber compound called DeVulc, that has retained up to 85 percent of its original properties which will be used by automotive suppliers in producing parts for Ford. "We are extremely pleased with this development. Meeting Ford's specifications clearly demonstrates DeVulc's viability as an alternative to virgin rubber and reinforces our conviction that DeLink is a unique and superior technology. DeVulc creates cost savings for rubber manufacturers in terms of raw material and disposal costs. While acceptance of the use of DeVulc has taken longer than we had anticipated, our belief that DeVulc will be a substantial and highly profitable portion of our business in the future is now confirmed. Moreover, we have obtained additional cryogenic grinding customers while developing customers for DeVulc." said Mr. Heffernan. RECEIVES THREE-MILLION-POUND PVC PVC: see polyvinyl chloride. PVC in full polyvinyl chloride Synthetic resin, an organic polymer made by treating vinyl chloride monomers with a peroxide. ORDER FROM A GM SUPPLIER "While the recent General Motors workers' strike adversely affected the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. during the first quarter, we are delighted to report that we have received confirmation from a new customer, a supplier of GM parts, for three million pounds of reprocessed PVC material for 1996. In addition, because CCGC invested in the conversion of its PVC line to the new dedicated cell approach, we anticipate improved margins for this product. We expect to commence shipping this initial PVC production order beginning late in the second quarter," Mr. Heffernan added. STI-K Polymers America, headquartered in Washington, D.C., is a subsidiary of a Malaysian company, STI-K Polymers Sdn, Bhd. STI-K is commercializing devulcanized rubber technology worldwide. Patents are pending in more than 75 countries since last October. This technical and commercial breakthrough will allow STI-K/CCGC to become a low cost raw material supplier to rubber product manufacturers while making a significant contribution to cleaning up the environment worldwide. Custom Cryogenic Grinding Corporation (CCGC) is a fully integrated and diversified Canadian reprocessing Reprocessing may refer to:
manufacturing industries npl → industries fpl de transformation around the world. CCGC also provides its customers with R&D and engineering services. The company is the leading North American manufacturer of cryogenically ground rubber and plastic powders produced by its unique proprietary system, which uses approximately 50 percent less nitrogen than conventional methods. CCGC provides a cost-effective, environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] alternative of waste handling versus the high transportation and landfill costs currently incurred by many industries. The Alberta Stock Exchange has neither approved nor disapproved this news release. CONTACT: Custom Cryogenic Grinding Corporation Daniel Heffernan, 519/426-5544, Ext. 227 or Lynda Kosalle, 519/426-5544, Ext. 225 or Anne Lachance, 416/594-1600, Ext. 225 |
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