Summit Environmental and Earth Safe Technologies Form Joint Venture for Mexico.Business Editors/Hi-Tech Writers LONGVIEW, Texas--(BUSINESS WIRE)--April 16, 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) ) recently executed a Joint Venture Agreement with Earth Safe Technologies for various projects for product sales and services in Mexico. The agreement creates a mutual working relationship for sales of 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 some of the other Summit Environmental Ultimate Cleaners. Additionally, environmental clean-up projects will become part of the Joint Venture's efforts. The parties will share equally in the profits of their efforts. Summit will be selling its products to the Joint Venture at wholesale. In December 2001, Summit's flagship product, FlameOut(R) was certified as an acceptable fire suppression agent to be used both in bulk and in handheld 2 1/2 gallon fire extinguishers by Pemex, the National Oil Company of Mexico, in their Exploration and Production divisions. FlameOut(R) liquid fire suppressor sup·pres·sor n. 1. or sup·press·er One that suppresses: a suppressor of free speech. 2. A gene that suppresses the phenotypic expression of another gene, especially of a mutant gene. is beginning to receive certifications from a myriad of tests, which have been going on around the globe. Recently, FlameOut(R) was approved for use in Poland as a substitute for AFFF AFFF Aqueous Film Forming Foam AFFF Amsterdam Fantastic Film Festival AFFF Aqueous Fire Fighting Foam AFFF AKR's Free Form Framework . Another long awaited approval for FlameOut(R) was completed in Chile in January. Approval in the Mercursor region of South America (Argentina, Brazil, Uruguay and Paraguay) is expected in the near future. The Polish and Chilean certification along with approval from Pemex can be viewed on Summit's official website at http://www.summitenvironmental.com. "We currently are working on samples of contaminated soil and water from lagoons for a variety of issues, using several of our environmental cleaners. There are over 2000 contaminated sites scheduled for clean-up over the next four years. The formation of the Joint Venture includes the environmental consultant for these projects as a part to the Joint Venture," states Keith Parker, 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. of Summit. For more information, contact Keith Parker, CEO at (800) 522-7841. 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. |
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