HERC Products Inc. Announces Distributor Agreement with Eco Soil Systems Inc.Business Editors PHOENIX--(BUSINESS WIRE)--Feb. 26, 2001 HERC HERC Hercules HERC Health Economics Resource Center HERC Nike Hercules HERC Heavy Engineering Repair and Construction HERC Higher Education Research Centre (UK) HERC Human Evolution Research Center Products Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: HERC) (BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). : HER) Monday announced that it has executed a distributor agreement with Eco Soil Systems Inc. (Nasdaq: ESSI ESSI Ecole Supérieure en Sciences Informatiques (French) ESSI Eon Silicon Solution Inc ESSI Engineered Support Systems Inc. ESSI Education Statistics Services Institute ESSI European Systems and Software Initiative ). Under the terms of the agreement Eco Soil Systems Inc. will make minimum annual purchases of Line Out(R) totaling $1,670,000 over the next five years. HERC manufactures Line Out as a private-labeled product called Deliminate for Eco Soil Systems Inc. The product is used in the cleaning of drip irrigation
HERC's Line Out product provides a superior method of providing for cleaning while also improving water distribution. In addition, the use of high salt content water by golf courses for irrigation irrigation, in agriculture, artificial watering of the land. Although used chiefly in regions with annual rainfall of less than 20 in. (51 cm), it is also used in wetter areas to grow certain crops, e.g., rice. has caused the need for a product to remove salt from the turf root zone. The agreement grants Eco Soil Systems Inc. exclusive distribution rights to certain defined territories, subject to reserved distribution rights of HERC, and gives guaranteed pricing for the five-year term of the agreement. "The signing of this agreement represents the continued growth and acceptance of HERC's specialty chemical product lines," said S. Steven Carl, chairman and chief executive officer of HERC. Statements in this press release that are not historical facts are hereby identified as "forward-looking statements" as that term is used under the securities laws. We caution readers that such "forward-looking statements," including those related to our financial outlook during fiscal 2001 are necessarily estimates reflecting the best judgment of our senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Readers should not place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Readers should refer to the related risks and uncertainties, which are disclosed in the company's SEC reports, including Form 10-KSB for the year ended Dec. 31, 1999. HERC Products Inc. provides pipe cleaning, tank cleaning, and other corrosion control and cleaning services for multiple applications utilizing its proprietary and patented chemistry and processes. HERC's patented chemistry and processes are currently used in cleaning marine, fire protection, potable potable /pot·a·ble/ (po´tah-b'l) fit to drink. po·ta·ble adj. Fit to drink; drinkable. potable fit to drink. water, chemical feed line, wastewater treatment, and other systems. Many of HERC's products are certified biodegradable and approved for use in potable water systems under NSF NSF - National Science Foundation Standard 60. |
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