ALPHA SOLARCO SUBSIDIARY AWARDED DOD CONTRACT
ALPHA SOLARCO SUBSIDIARY AWARDED DOD CONTRACT CINCINNATI, June 29 /PRNewswire/ -- Alpha Solarco Inc.
(NASDAQ: ASCO), today announced that its newly formed, wholly owned subsidiary, Alpha Manufacturing Group, Inc. has been awarded a $3.2 million Department of Defense contract.
The sole source contract is to supply a new product "Multifuel Squad Stove", to the U.S. Military. This unique piece of field equipment is engineered to burn any liquid fuel available to personnel. Previous models of individual stoves burned only gasoline. "This new unit will burn diesel fuel, kerosene, alcohol, gasoline or any combustible liquid," according to Greg Whiteaker, president of Alpha Manufacturing Group. He also added, "Work will commence immediately on supplying the DOD with the customary 'first article' and production could start by October 1992." In a joint statement, Edward C. Schmidt, president of Alpha Solarco Inc. said, "This contract was part of Alpha Solarco's original plan to stabilize corporate cash flow through vertical integration. At present, Alpha Solarco has a number of large proposals under evaluation in several areas, and we expect our internal growth goals to be realized even in this slow economic period." Alpha Manufacturing Group, located in Dry Ridge, Ky. also produces parts and sub-assemblies for the Solar Concentrator Electric Power Systems developed by the parent company. Plant conversion for solar production has been completed and the upgraded demonstration system for the company test site in Pahrump, Nev. is now in progress. -0- 6/29/92 /CONTACT: Edward C. Schmidt, president of Alpha Solarco, 513-771-1690/ (ASCO) CO: Alpha Solarco ST: Ohio IN: SU:
BM -- CL006 -- 4622 06/29/92 10:28 EDT
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|Date:||Jun 29, 1992|
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