CYANOTECH CORP. ANNOUNCES EXIMBANK LOAN APPROVAL
CYANOTECH CORP. ANNOUNCES EXIMBANK LOAN APPROVAL KAILUA-KONA, Hawaii, Feb. 24 /PRNewswire/ -- Cyanotech Corp.
(NASDAQ: CYAN) today announced that the Export-Import Bank of the United States has approved the company's capital loan guarantee application. Cyanotech Corp. is the first company in Hawaii to be approved under Eximbank's city/state program, marking the launch of this cooperative program to assist Hawaii's exporters.
In 1991, Cyanotech Corp. produced almost one-third of the state of Hawaii's aquaculture output. "This program comes at a very opportune time for Cyanotech," said Dr. Gerald Cysewski, Cyanotech's president and chief executive officer. "We have just developed and begun actively marketing a number of new consumer products. Cyanotech's participation in the Eximbank program will allow us to pursue new foreign trade opportunities for our wholesale products and our new consumer products, as well as contribute to Hawaii's economic growth." Cyanotech Corp. is a leading manufacturer of marine products for worldwide nutritional and pharmaceutical markets based on proprietary production and processing systems. The company currently manufactures and sells Spirulina, a high protein nutritional product; and a series of phycobiliproteins -- fluorescent pigments used in immunological diagnostics. -0- 2/24/92 /CONTACT: Dr. Gerald R. Cysewski, president and CEO, or Ronald P. Scott, VP, finance and administration of Cyanotech, 808-326-1353/ (CYAN) CO: Cyanotech Corp. ST: Hawaii IN: MTC SU:
KJ-EH -- LA008 -- 1734 02/24/92 09:03 EST
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|Date:||Feb 24, 1992|
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