Printer Friendly

PRCC COMPLETES ALL CRITICAL ELEMENTS OF CHINA CONTRACT.

A. E. Gosselin, Jr., president and CEO of Pollution Research and Control Corporation (Nasdaq:PRCC), Glendale, Calif., has announced that all critical elements of its five million dollar Phase I eleven-city China network contract have been successfully completed. All equipment was delivered ahead of schedule, and training for China personnel was completed early. Finally, the crucial initial city acceptance test was successfully completed on December 11, 1999, confirmed by an assessment report signed by Chinese officials and representatives from the California Air Resources Board. The contract is being performed by the company's wholly owned subsidiary, Dasibi Environmental Corp ("DEC").

Gosselin stated, "I believe that 1999 has been the most amazing turnaround and growth achievement I have seen in any public company during my thirty years as CEO. Four years of aggressive competition for the largest air pollution market ever presented to this industry resulted in a China foothold for a Phase I contract. We started the year after $2.8 million in sales for 1998 with only $60,000 cash. We are ending this year with approximately $8 million in sales and approximately $1,000,000 in cash, primarily due to the China market."

Gosselin continued, "Our acceptance tests mentioned above are particularly noteworthy. All equipment, which we design and manufacture in-house, performed flawlessly with an astounding 98+% data capture. This coming week, on schedule, we are demonstrating our in-house developed reporting, air permitting, and real-time graphical software as 'frosting on the cake' that no other competitor has in-house. Our current situation bodes well for ongoing work in China."

As previously reported, DEC has signed a Letter of Intent valued at more than $11 million with China's State Environmental Protection Administration ("SEPA") for Phase II of SEPA's Nationwide Urban Air Quality Network. SEPA's ultimate goal is a nationwide network of air pollution monitoring stations in over 600 cities.

Pollution Research and Control Corporation primarily designs, manufactures and markets air pollution measurement instruments, nationally and internationally, through its wholly owned subsidiary Dasibi Environmental Corp.

For more information, call 818/247-7601.
COPYRIGHT 2000 Worldwide Videotex
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Industrial Environment
Date:Feb 1, 2000
Words:339
Previous Article:ENGINEERING HYDROGEN PEROXIDE COULD POWER FUTURE FUEL CELL.
Next Article:ELECTROSOURCE GETS ORDER FOR LIGHT-WEIGHT INTELLIGENT BATTERY.


Related Articles
CEMEX COMPLETES DEAL.
The Puerto Rico Convention Center: the excitement is building. The building is exciting.
EDO awarded $240 million contract for Marine Corps communications system.
Compression forces: consumers of recycled PET and HDPE are hungry for more material, though modest recycling rates threaten the stability of the...
Chinese Contract Law: Theory and Practice.
China's evolving RoHs legal regime: the new law goes into effect March 1, 2007 (maybe), and could be even broader than Europe's version.
Sinopec Set To Sign $100 Bn Deal.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters