Pollution Research and Control Commences Final Contract Negotiations With China; Phase II Contract for Air Quality Network Valued at $14 Million.Business Editors/Environment & Health Writers GLENDALE, Calif.--(BUSINESS WIRE)--March 27, 2000 Pollution Research and Control Corporation (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 :PRCC PRCC Pearl River Community College (Mississippi) PRCC Papillary Renal Cell Carcinoma PRCC Puerto Rican Cultural Center (Chicago, IL) PRCC Puerto Rico Convention Center PRCC Parallel Rural Community Curriculum ) announced today that it has commenced final negotiations with China's State Environmental Protection Administration ("SEPA SEPA® Soft enhancer of percutaneous absorption Therapeutics A technology that enhances transdermal drug delivery. See Transcutaneous therapy. ") regarding a $14 million contract. The project is Phase II of SEPA's Nationwide Urban Air Quality Monitoring Network, and involves more than thirty cities. Company management has received indications that contract finalization Writing the table of contents (TOC) on a recordable CD or DVD disc. The finalization process ensures that the disc can be played back on most CD and DVD players. See disc-at-once. may occur in early April 2000. The contract will be performed by the Company'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. , Dasibi Environmental Corp ("DEC").(1) "We are positioned for significant expansion in the largest air pollution monitoring market in the world," stated Al Gosselin, 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. . "The signing date appears to have been moved up considerably, potentially allowing for substantial Phase II shipments this fiscal year. We expect gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. of approximately 45% on future shipments to China."(1) As previously reported, DEC recently completed shipments valued at $5 million for the Phase I portion of SEPA's Nationwide Urban Air Quality Monitoring Network, and has signed a Phase II Letter of Intent. SEPA's ultimate goal is a nationwide network of air pollution monitoring stations in over 600 cities. Pollution Research and Control Corporation, with approximately four million shares outstanding, primarily designs, manufactures and markets air pollution measurement instruments, nationally and internationally, through its wholly owned subsidiary, Dasibi Environmental Corp. (1) This paragraph contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involving future projects in China that are under negotiation. The award and commencement of these projects is subject to a number of factors including, but not limited to, the Company submitting successful bids, the Company obtaining additional financing for projects that are awarded, a stable political relationship with China and maintaining perceived leadership positions, among other normal factors of competitive business. There can be no assurance that a significant market for air monitoring products will develop in China, or that the Company can successfully penetrate the market should one develop. Additional information with respect to these and other factors that could materially affect the Company and its operations are included in certain forms the company files with the Securities and Exchange Commission. |
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