Big China play, PRCC, Index member, check out today's news-
(BSNS WIRE) Pollution Research and Control Corp. Establishes Dominant Ro
Pollution Research and Control Corp. Establishes Dominant Role in China's
Enormous Air Pollution Monitoring Market
Business Editors
GLENDALE, Calif.--(BUSINESS WIRE)--Nov. 18, 1999--A. E. Gosselin
Jr., president and chief executive officer of Pollution Research and
Control Corp. (Nasdaq:PRCC), announced today that China's admittance
into the World Trade Organization (WTO) would result in a significant
reduction of duty charged by Chinese customs on the company's air
pollution monitoring equipment.
Since June of this year, the company's wholly owned subsidiary,
Dasibi Environmental Corp (DEC), has shipped air pollution monitoring
systems valued at approximately $5 million under an eleven city,
Phase I contract with China's State Environmental Protection
Administration ("SEPA").
Gosselin stated, "The company has received a number of inquiries
from shareholders and investment professionals regarding the potential
impact of China's admittance into the WTO. Although we successfully
negotiated no duty charges on our initial shipments to China, related
shipments not directly covered under contract incur heavy duty
expense.
"China's acceptance into the WTO would substantially reduce such
export costs, strengthening the company's ability to negotiate on
price, while improving profit margins on these related shipments"(a).
Gosselin continued, "China now recognizes the critical importance
of measuring air quality, and our company has established an advanced
entry point in this immense market."
As previously announced, PRCC has signed a Letter of Intent and
is already negotiating a Phase II contract, encompassing at least
twenty-five additional cities and valued at more than $10 million.
Further, the company has begun negotiations for the China
manufacturing facilities necessary for competing in Phase III,
involving more than one hundred additional cities.
The ultimate goal of China's State Environmental Protection
Agency (SEPA) is a nationwide air monitoring network of 680 cities.
The market for air pollution monitoring equipment in China has been
estimated at a minimum of $300 million (a).
Pollution Research and Control Corp. primarily designs,
manufactures and markets air pollution measurement instruments,
nationally and internationally, through its wholly owned subsidiary
Dasibi Environmental Corp.
(a) This paragraph contains forward-looking statements regarding
China's acceptance into the World Trade Organization (WTO) and future
projects in China that are under negotiation. The award and
commencement of these projects is subject to a number of factors
including, but not limited to, the company submitting successful bids,
the company obtaining additional financing for projects which are
awarded, a stable political relationship with China and maintaining
perceived leadership positions, among other normal factors of
competitive business.
--30--jap/la* wja/la
CONTACT: Pollution Research and Control Corp., Glendale
Albert E. Gosselin Jr., 818/247-7601
or
Phoenix Alliance Inc.
Phil Huss, 970/259-7241 (investor relations)
KEYWORD: CALIFORNIA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS ENVIRONMENT
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