For Immediate Release
SOLPOWER CORPORATION TO ACQUIRE SOLPOWER AUSTRALIA
June 8, 1999, Scottsdale, AZ-Solpower Corporation (NASD OTC BB: SLPW), a worldwide leader in environmental enzyme technology, is pleased to announce that it has executed confidential Heads of Agreement to acquire Solpower Australia Pty Ltd.
"We are about to complete a record year, our sales and profit have almost doubled. Now is the time to take the next step in our globalization strategy with Solpower Corporation acquiring our Solpower operations based in Australia," says Mr. Peter Voss, Chairman of Solpower Australia and Dominion Capital Pty Ltd. Dominion Capital and its affiliates own the worldwide proprietary rights, trademarks and patents to Soltron (enzymatic fuel treatment), SP34E and SP34H (refrigerant gases), Ecolyzer (enzymatic oil treatment), SolCharge (environment friendly, extended life, battery energizer) and various other leading environment friendly products and technologies.
Solpower Corporation is dedicated to the profitable commercialization of environment friendly products and technologies. Soltron is currently being manufactured and distributed in North America by Solpower Corporation. The addition of SP34E to the product line was completed last year and is now ready for introduction to the North American market. The inclusion of Solpower Australia will significantly enhance the Company's ability to fulfil its corporate objective to globalize its operations and opportunities.
Solpower Corporation manufactures, markets, distributes and sells
environment friendly products and technologies including Soltron, the enzyme that enhances fuel, and SP34E, a drop-in alternative refrigerant gas to R12 and R134a.
Solpower Australia Pty Ltd manufactures, markets, distributes and sells Solpower products and technologies in Australia and New Zealand.
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.
For further information please contact Solpower Corporation at (888)
289-8866 or Dominion Capital Securities, Inc. at (877) 432-7462.
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