TRI-TEXAS SIGNS AGREEMENT WITH ES-TECH INTERNATIONAL
TRI-TEXAS SIGNS AGREEMENT WITH ES-TECH INTERNATIONAL DALLAS, April 15 /PRNewswire/ -- Tri-Texas Inc.
(OTC Bulletin Board: TTEX) announced it had signed an agreement with ES-Tech International Inc. of Denver, to acquire their patented technology and production equipment for cash and stock. Charles Christopher, chief executive officer of TTEX, said that the agreement would increase TTEX's 1992 revenues by $9 million and earnings by $3 million.
ES-Tech International Inc. designs, builds and owns the patents on a unique reverse vending "EnvirOmint Robot" which automatically dispenses coins and promotional discount coupons when a person deposits aluminum cans into its receptacle. Everett E. Schulze, Jr., inventor of the "EnvirOmint Robot," has been elected president and chief executive officer of EnvirOmint America Inc., a subsidiary of TTEX. The company will establish a presence in the growing recycling industry and the $110 billion promotional coupon industry by allowing retailers to market on a neighborhood basis, while rewarding store patrons for their recycling efforts with cash and coupons. The first 50 EnvirOmint Robots are scheduled for deployment within 90 days in the Denver area. The company's business plan calls for the distribution of 2,700 EnvirOmint Robots in 15 major cities by the end of 1993. Tri-Texas Inc. specializes in the acquisition of energy, recycling and environmental opportunities. With a positive net worth in excess of $5 million, TTEX is not a designated security and expects to file for trading on the NASDAQ system shortly. -0- 4/15/92 /CONTACT: Kevin Alfson of Market Solutions Inc., 303-797-7545, for Tri-Texas Inc./ (TTEX) CO: Tri Texas Inc.; ES-Tech International Inc. ST: Colorado IN: SU: TNM
CH -- LA016 -- 8563 04/15/92 09:56 EDT
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|Date:||Apr 15, 1992|
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