BELLINGHAM, Wash., April 16 /PRNewswire/ -- International Absorbents Inc , a
leading
manufacturer and marketer of absorbent products made from waste wood pulp,
announced
today that it has signed an agreement with Newstech Recycling of Coquitlam, British
Columbia, to process its 110,000,000 pounds of waste fiber annually.
"We are presently processing about one-third of Newstech's total output into AgraFRESH
large animal bedding," commented Geoff Lawrence, CEO of Absorption Corp., the
Company's operating subsidiary. "Projections are for us to be near Newstech's capacity
within
ninety days."
"The capability to handle such large volumes of waste material resulted in our being
awarded
favorable tipping fees," continued Mr. Lawrence. "We are now using this fiber source for
several of our existing industrial products which will result in a significant lowering of
our cost
structure. Full utilization of Newstech fiber could contribute at least a couple of cents per
share
to our bottom line annually."
International Absorbents Inc. develops, manufactures and markets patented and
proprietary,
cost-effective sorbent products derived from recycled, renewable materials. These
environmentally safe products outperform conventional products used in a broad range of
industrial and consumer applications, including oil and hazardous liquid spill cleanup
and
control, oil/water filtration, packaging and commercial/retail animal bedding and litter.
In late
1996, the majority of the Company's operating management was replaced with several
senior
executives having extensive international sales and operations experience.
Further information about International Absorbents is available at www.absorbent.com.
This press release contains forward-looking statements with respect to the results of
operations and business of the Company that involves risks and uncertainties. These risks
and
uncertainties are detailed from time to time in the Company's filings with the Securities
and
Exchange Commission. SOURCE International Absorbents Inc. |
