Environmental Construction Products International Announces Key Agreements.Business Editors DENVER--(BUSINESS WIRE)--Oct. 5, 2000 Environmental Construction Products International, Inc. (Pink Sheets: EPCI EPCI Etablissement Public de CoopĂ©ration Intercommunale (France) EPCI Enhanced Proliferation Control Initiative EPCI Engineering, Procurement, Construction, and Installation EPCI Electronic Payment Certification Institute ) announced today that it has entered into several key agreements, each of which will bolster the Company's efforts to move its products into the international market. At the same time, the Company announced that it is shipping materials for a demonstration project to China. Management of the Company has approved a modified agreement to sell business with BMCI BMCI Banque Marocaine du Commerce et de l'Industrie (Morocco) BMCI Bio-Math Connect Institute (Rutgers University, Piscataway, NJ) BMCI Bulk Moulding Compounds Inc. (West Chicago, IL) Inc., currently doing business as Bergandi Machinery Company. Under the modified agreement, the Company will purchase all of the stock and ownership of BMCI in a tax-free exchange tax-free exchange An exchange of assets between taxpayers in which any gain or loss is not recognized in the period during which the exchange takes place. Rather, taxpayers are required to adjust the basis of assets exchanged. for the restricted common stock of the Company. The terms of agreement also provide for the appointment of Ernest J. Turocy, current President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of BMCI to the Company's Board of Directors. At its factory in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , BMCI utilizes cutting-edge technologies in the design, development, and manufacture of processing machinery and parts. It has an established international presence, with 60% of its 1999 sales being export business. With the acquisition of BMCI, ECPI ECPI European Council for Plasticisers and Intermediates (European plasticiser trade association) ECPI Electronic Crime Partnership Initiative ECPI Electronic Computer Programming Institute ECPI Early Career Principal Investigator will have the capacity to manufacture the machinery necessary to produce its Econ Panel system and distribute the machinery world wide. The agreement with BMCI is currently being submitted to the Board of the Company for approval. Following the Board's approval the agreement will be forwarded to the Board of Star Anise star anise: see under anise. S&T Co. Ltd for review and approval pursuant to the terms of their agreement with the Company. The Company has entered into a stock purchase agreement with Star Anise, a science and technology-focused venture capital firm specializing in Chinese ventures. Under the terms of the agreement the company will receive free-trading shares of VIPC VIPC Venice International Photo Contest VIPC Vines Interprocess Communications VIPC Virginia Immigrant People's Coalition VIPC Vines Inter Process Communications Communications Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :VPCM) with an aggregate value of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $2,000,000 in exchange for 6,666,667 shares of the Company's restricted stock. In addition, Star Anise will assist the Company in establishing a credit facility for the purpose of facilitating the completion of the pending acquisition of BMCI. The terms of the agreement also provide for two nominees of Star Anise to join the Company's Board of Directors and serve as Secretary-treasurer of the Company. Through the arrangement with Start Anise anise (ăn`ĭs), annual plant (Pimpinella anisum) of the family Umbelliferae (parsley family), native to the Mediterranean region but long cultivated elsewhere for its aromatic and medicinal qualities. , the Company will have access to significant expertise regarding the successful inception and growth of Chinese ventures. The current business and economic climates make China an ideal market for the Company's Econ Panel system, and this arrangement will help provide the Company with the tools necessary to enter the market successfully. The Company has also entered into an equity-exchange and marketing agreement with Beijing MingHe Technology Development Co. Ltd. - Steel Fabrication fabrication (fab´rikā´sh n the construction or making of a restoration. Group, subject to the approval of the Boards of the respective Companies. Under the terms of the agreement the Company will receive 30% of the equity of MingHe while MingHe will receive 30% of the equity in the Company. MingHe will also produce and market the Company's Econ Panel system in China, utilizing machines provided by the Company. Under the terms of the agreement the Company will receive a royalty of USD $1.00 per panel manufactured in China. In furtherance of the agreement with MingHe the Company is joining China's Beijing MingHe Science and Technology Enterprise Group and its subsidiary MingHe Steel to build a demonstration project in Mainland China. The project will showcase the Econ Panels' ability to meet the needs of the Chinese business and industrial construction markets. The Company is currently filling the materials order for the project, and has received its first USD $50,000 from MingHe. MingHe has applied to have the Econ Panel certified for use in China. MingHe steel is one of China's foremost developers and manufacturers of steel and construction products, most notably pre-engineered steel construction systems that can be assembled on-site, in a minimal length of time, while meeting the specialized needs of the customer's industry. "This is an exciting time for ECPI," says company 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. Frank Glitton. "We are working to establish ourselves as a strong player in the international construction markets. Each of these agreements and collaborations moves us into a better position to demonstrate the quality of this company and our products." This press release may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from the statements made herein. Such risks and uncertainties include but are not limited to changes in the performance of the financial markets, changes in demand for and market acceptance of the company's products and services, changes in the internet industry, and the impact of competition, and other risks disclosed from time to time in the company's regulatory reports and filings. |
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