August 17, 1999 17:12
Cyntech Technologies Uncovers Not So Grave Market
CONYERS, Ga.--(BUSINESS WIRE)--Aug. 17, 1999--Cyntech Technologies, Inc. (NASDAQ Bulletin Board:CYNT) announced today their intent to utilize their existing focus of post consumer rubber recycling to manufacture, market, and distribute a line of products indigenous to post consumer crumb rubber such as burial vaults, children's playground mats, and portable hydrophobic retention walls.
Following in the companies focus to identify new product lines that are exceptionally economically high yielding, less hazardous material risk, and less effort in dominant market penetration and manufacture ramp up as referenced in the news release issued August 13, 1999, Ike Yancy, Vice President of CYNTECH, stated the following: "As we strive to complete the physical dimension of our operations that will allow us to produce alternative fuel products for the petrochemical industry, we will now be able to competently alleviate a greater portion of the tire waste burden by producing products with exceptionally high returns and using larger amounts of recycled crumb rubber to produce them. We are excited about our complimentary developments, and will pursue them with vigor and passion."
Burial vaults and liners typically realize between 200%-400% markup, and coupled with State mandates now requiring every traditional burial to utilize such a vault or liner to prevent remains contacting groundwater resources, and approximately 1.7 million traditional burials in 1994 with an industry growth rate exceeding 27%, this smaller but highly lucrative market may prove to be CYNTECH'S strongest.
Tandem with the initiation of burial vault production, CYNTECH TTECHNOLOGIES also intends to manufacture other product lines similar in manufacture: playground mats, industrial floor pads, automotive belts and hoses, and outdoor matting applications. Such markets are expected to realize similar economic returns.
CYNTECH TECHNOLOGIES, INC. is an integrated technologies firm in the post consumer rubber and plastics recycling industry, with end user products ranging from methanol and derivative fuels, energy cogeneration, consumer durable goods, and contiguous products. Cyntech Technologies, Inc. trades publicly on the NASDAQ Bulletin Board under the trading symbol CYNT.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, and actual results may be materially different. Factors that could cause actual results to differ include activity levels in the securities markets and other risk factors, such as customer order rates, cancellations, late delivery of customer components, production delays, dependence upon certain customers, dependence upon key executives, viability of quarterly results, single operating facility, competition, product liability risk, control by management, foreign currency fluctuation, and other risks detailed in applicable SEC filings and the companies 15(c)2-11 disclosure document.
For more information please contact CYNT's Investor Relations @ (770) 641-8297. The Company web site is located at www.cyntechtechnologies.com. e-mail address: upgas@aol.com
CONTACT: CYNT's Investor Relations
R. Frank Meyer, (770) 641-8297
www.cyntechtechnologies.com
e-mail: upgas@aol.com
CYNTECH TECHNOLOGIES INC - CYNT
Price 5/8
Net Change +0.045
Volume (000) 32
Day High 0.54
Day Low 0.54
as of
08/17/99 17:14 PM EDT
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