RTI Inc. Board Approves Joint Venture Negotiation; RTII on the NASDAQ Bulletin Board.SUNLAND PARK Sunland Park may refer to:
RTI RTI - Return from interrupt is working with Marley Cooling Tower (Division of United Dominion - 2 billion sales - "UDI (1) (Unified Display Interface) A digital interface from the United Display Interface SIG that is designed to replace the analog VGA interface common on CRTs and flat panel monitors. UDI is expected to provide backward compatibility with DVI and HDMI interfaces. " stock symbol), to form a joint venture to develop high efficiency Water Chillers. Marley is the leading manufacturer of Water Cooling Towers. There has been a shift from water cooled to air cooled Chillers in the size range from 50 to 350 tons. This is a $350 million dollar manufacturers market. The joint venture proposes to develop a water cooled Chiller chill·er n. 1. One that chills. 2. A frightening story, especially one involving violence, evil, or the supernatural; a thriller. chiller Noun 1. that can (in comparison to air cooled Chillers): 1) reduce peak electrical demand by 50%, 2) be competitively priced to the owners, 3) deliver 40% gross margins to the joint venture, and 4) achieve sales of 30 million plus within three years. The RTI Board of Directors has approved the formation of a joint venture which will: 1) be owned 51% by UDI, 2) be assigned all of RTI's related patent rights for Chillers above 50 tons in size, and 3) have such other conditions as the President and Vice President of RTI shall agree to. The progress of the product development is planned over a two year time frame with UDI to pay the development costs and RTI to take the lead in technological development. The development is planned in four stages and can be canceled at the end of any stage. UDI has made the financial commitment for the first stage and RTI's management had to commit to enable UDI to own 51% in order to move forward. RTI is a developer and manufacturer of high efficiency air conditioning equipment. RTI has patented technology and patents pending. RTI has the highest efficiency air conditioning equipment rated under ARI ARI Acute respiratory infection, see there Standard 210 (Air Conditioning and Refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. Institute). RTI's AC2 technology has achieved an efficiency increase that Pacific Gas & Electric Company measured as being an average of 102% better than 10 SEER "High Efficiency" air cooled air conditioners (70% plus of US sales). The Company is an EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. "Energy Star Partner" and RTI is listed on the EPA Energy Star Web page. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on the current plans and expectations of RTI Inc. and involve risks and uncertainties that could cause actual future results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, among others, risks associated with product development, needs for additional capital, competition, risks of growth in a small and developing business, and other risks detailed in the Company's 10K, 10Qs and other reports filed with the Securities and Exchange Commission. |
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