Summit Environmental Announces International Update.Business Editors LONGVIEW, Texas--(BUSINESS WIRE)--April 23, 2002 Summit Environmental Corporation, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SEVT SEVT Solar Electric Vehicle Team SEVT Scottish Equestrian Vaulting Team SEVT Sport, Entertainment, and Venues Tomorrow (conference) ) Strategic Alliance partners received certifications or market approvals resulting in initial product sales in several areas around the world. Canada -- The agreement with 614575 Alberta Limited doing business as Just In Case Fire resulted in an agreement giving Alberta Limited the exclusive rights to market FlameOut flame·out n. 1. Failure of a jet aircraft engine, especially in flight, caused by the extinction of the flame in the combustion chamber. 2. One that fails suddenly, especially after having been successful. (R) and FirePower 911(TM). Summit will not sell FlameOut(R) to any competing company trying to duplicate the Fire Caddy A plastic container that holds a CD or DVD disc for added protection. The bare disc is placed in the caddy, and the caddy is inserted into the drive. A caddy is not a jewel case. A jewel case protects the disc for transportation. A caddy protects the disc while reading and writing. or the Just In Case Fire System. In return Summit sells FlameOut(R) for each unit to Alberta Limited for resale. After the sale of FlameOut(R), Summit receives a royalty from the sale of each unit. Sales of FlameOut(R) began in March and are continuing on a regular basis. Alberta Limited is involved with the sale of FlameOut(R) to volunteer fire departments for supply necessary for wetlands reserves and the Canadian Forestry Service. Alberta Limited is involved with marketing FirePower 911(TM) to specific market retailers related to camping and outdoors. The first order of FirePower 911(TM) is in progress. South America -- Chilean ratings for FirePower 911(TM) for Class A and B fires have been completed. The first customer for FirePower 911(TM) in Chile is the Carabineros (20,000 Federal Police). FirePower 911(TM) will be part of each officer's equipment belt. FlameOut(R) evaluation for The Mercosur (Brazil, Argentina, Uruguay, and Paraguay) has evolved into an agreement to complete blending of FlameOut(R) in Argentina. Freight, tax and import incentives are very favorable for products manufactured in Argentina. The company through South American partner, MPI MPI - Message Passing Interface , is dealing with Petrobras. One of the requirements for sale by Petrobras to companies and departments within the Mercosur requires that the product be manufactured in an affiliate country. Production of FlameOut(R) in Argentina will provide locally manufactured product in order to match the product which the company has already shipped to Brazil and been tested. The product manufactured in Argentina will be the concentrate manufactured by BioGenesis biogenesis /bio·gen·e·sis/ (-jen´e-sis) 1. origin of life, or of living organisms. 2. the theory that living organisms originate only from other living organisms. containing the Company's patented formula minus a couple of identifiable ingredients which will be purchased in Argentina and Brazil. The addition of water and the blending process occurring in Argentina will satisfy the requirements for Petrobras and The Mercosur Countries. The company will receive a royalty per gallon for product manufactured in South America. Europe -- Pyrogen pyrogen /py·ro·gen/ (pi´ro-jen) a fever-producing substance. py·ro·gen n. A substance that produces a fever. UK Limited of Manchester, England was instrumental in securing approval of FlameOut(R) as an approved replacement for 3M's AFFF AFFF Aqueous Film Forming Foam AFFF Amsterdam Fantastic Film Festival AFFF Aqueous Fire Fighting Foam AFFF AKR's Free Form Framework . The initial approval came from Poland, whose certification is posted on the company website. Product sales began in March and the next shipment is being prepared. Scandinavia -- Tecno Supplies sells FirePower 911(TM) and FlameOut(R). Initial customers and testing were for the Norwegian Air Force and Exxon of Norway. Mexico -- Recently the company reported the approval of FlameOut(R) replacing AFFF at Pemex Oil Company of Mexico. In addition to FlameOut(R) sales, the company is working contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. site reclaimations and remediation projects for Pemex. The Company will be attending clean-up demonstrations this week for both projects. China -- The recently announced agreement with Tianfa Corporation and Tianyang Group of The People's Republic of China requires the securing of registration licenses in China. Representatives from China will be observing contract filling of aerosol cans at one of the fillers used by Summit. Summit sells FlameOut(R) concentrate to Tianyang for filling aerosol cans in China. In addition to selling FlameOut(R), the company will receive a royalty from the sale of each can produced. "We are seeing sales of products to all of these venues. They have been a long time in developing. However, the upside for sales in these markets are very large. In addition, the first quarter report for 2002 will show significant reductions in overhead and expenses," states Keith Parker, Summit 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. . EXCEPT FOR THE HISTORICAL INFORMATION CONTAINED HEREIN, THE MATTERS SET FORTH IN TODAY'S PRESENTATION ARE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE "SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " PROVISIONS 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 FORWARD-LOOKING STATEMENTS ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS OF THE DATE HEREIN. SUMMIT DISCLAIMS ANY INTENT OR OBLIGATION TO UPDATE THESE FORWARD-LOOKING STATEMENTS. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion