INTERQUEST ACQUIRES INTEREST IN SWISS-BASED ENVIRONMENTAL CONTROL TECHNOLOGIES COMPANY.TORONTO, ONTARIO--(BUSINESS WIRE)--JANUARY 25,1995--INTERQUEST (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. : IQTT ) Interquest Technologies Inc. reported today that its 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. , Interquest International Inc. has signed an agreement to acquire 15 percent equity interest in Techform Engineering AG, a private Swiss company based in Zurich. Under the terms of the agreement Interquest will purchase shares for 800,000 Swiss Francs (approximately CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $ 880,000) and has agreed to provide a credit facility to assist Techform in providing performance bonds to its customers backed by a letter of credit arranged by Interquest in the amount of 1,700,000 Swiss Francs (approximately CDN$ 1,544,280). Interquest has also been granted the option to acquire a further 18 percent equity interest in Techform, exercisable prior to Jan. 1, 1996. Techform has developed patented leading-edge technologies in the areas of combustion, air pollution and emission monitoring systems. The Techform technology has been successfully implemented in European municipal waste incinerators, dramatically reducing maintenance costs and increasing the efficiency of emissions control. With the proceeds of the Interquest investment, Techform will market its technology in North America and elsewhere around the world. Since 1992, Techform has worked closely with Diochem Corporation, a wholly owned subsidiary of Interquest, in the development of Diochem's patented Dioxin Inhibition Technology (DIT) which has recently been licensed to The Dow Chemical Company The Dow Chemical Company (NYSE: DOW TYO: 4850 ) is an American multinational corporation headquartered in Midland, Michigan. Overview The Dow Chemical Company is currently the second largest chemical manufacturer in the World (after BASF)[1]. of Midland, Michigan. Tests conducted by Techform and Diochem in 1994 have successfully demonstrated the effectiveness of Diochem's DIT technology at a waste- to-energy municipal incinerator in Bazenheid, Switzerland. Interquest Technologies is a technology transfer merchant banker focusing on leading edge technologies. Its investments include Spectral Diagnostics Inc. (TSE-SDI, NASDAQ-DIAGF), a Toronto-based development phase cardiac diagnostics company; American Sensors Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). - ASZ ASZ Air Safety Zone ASZ Aku Soku Zan (gaming clan) ASZ Anwender Service Zentrum (German: User Service Center) ASZ Auto Stand-By Zoom (camera) , NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on - SNIFF), a developer and manufacturer of gas sensor products; Diochem Corporation, an environmental technology company; LifeTECH Corporation, a development stage blood sterilization technology company; and BloodTRAC Systems Inc., a newly formed subsidiary of Interquest, with state-of-the-art computer software systems that automate the entire scope of blood bank operations, including donor registration, blood product manufacturing and testing and blood inventory management. With 28,186,652 million shares outstanding and based on book value adjusted to reflect the market value of its publicly traded portfolio holdings, Interquest's net asset value per share on January 20, 1995 was $ 2.46. CONTACT: William L. Koyle,Chairman & 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. Interquest Technologies Inc. 416/364-8441 Stephanie Lupynec, Director of Communications Director of Communications is a position in the private and public sectors. The Director of Communications is responsible for managing and directing an organization's internal and external communications. Interquest Technologies Inc. 416/364-8441 Irving L. Straus, Chairman Straus Corporate Communications 212/768-2477 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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