Utah Clay Technology Inc. Makes Announcement.SALT LAKE CITY--(BUSINESS WIRE)--Feb. 19, 1998-- -0-
Company Information:
Utah Clay Technology Inc.
Symbol: NASDAQ BB:UTCL
Contact: Dennis S. Engh, president or
Tony Lotito, director of marketing
Price: Bid - $2.00 - Ask - $2.1875
Common stock
outstanding at
12/31/97: 2,530,000
Common stock
warrants
outstanding at
12/31/97: 400,000
-0- Utah Clay Technology Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:UTCL), a Salt Lake City company, has completed the sale of 100,000 units of its securities as of Dec. 31, 1997, announced Dennis S Dennis is a male first name derived from the Greco-Roman name Dionysius meaning "servant of Dionysus", the Thracian god of wine, which is ultimately derived from the Greek Dios (Διος, "of Zeus") combined with Nysos or Nysa (Νυσα), where the . Engh, president of Utah Clay Technology Inc. Each unit consists of one share of common stock and four common stock purchase warrants exercisable at $2.00 per share through March 31, 1998. Utah Clay Technology Inc. has met with the management of an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of the RHI RHI Robert Half International RHI Range Height Indicator RHI Roller Hockey International RHI Relativistic Heavy Ion RHI Rigid Hull Inflatable Boat RHI Rhinelander, WI, USA - Rhinelander Oneida County Airport (Airport Code) Group located in California to explore the joint product development and worldwide marketing and distribution of kaolin kaolin (kā`əlĭn): see china clay. products, announced Engh. The RHI Group is headquartered in Wien, Austria and is traded on the Vienna, Frankfurt and Munich stock exchanges. The RHI Group had gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. of $1.6 billion (U.S. dollars) in 1996 from its 31 plants and 150 worldwide distributors located on four continents. The RHI Group's revenue was generated from the sales of its refractories (kaolin products) and engineering, insulating and waterproofing products and services. Engh stated that Utah Clay Technology Inc. and RHI Group have hired consultants "to assist in the product development and marketing feasibility studies The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. for the development and sale of products through RHI Group worldwide distribution network." The feasibility studies are projected to be completed by the end of the third quarter '98. Utah Clay Technology Inc. has developed special processing technology to produce high quality kaolin pigments at reduced prices. The company's operations are located in southern Utah where it mines, processes and distributes its kaolin products through chemical distributors to their industrial customers in the paint, plastic, ceramics ceramics (sərăm`ĭks), materials made of nonmetallic minerals that have been permanently hardened by firing at a high temperature, or objects made of such materials. , polishes, inks, adhesives, rubber, fibre glass, pharmaceuticals and cosmetics industries. -0- Utah Clay Technology Inc. 3985 South 2000 East Salt Lake City, UT 84124 CONTACT: Utah Clay Technology Inc., Salt Lake City Dennis S. Engh or Tony Lotito, 888/488-2529 or 801/424-0223; fax: 801/272-7627 E-Mail: utahclay@xmission.com http://www.xmission.com/-utahclay/ |
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