COII NOVEMBER 29, 1994 MISLEADING PR FIRST CHINA UNITS SHIP = 3 BILLION IN COII SALES
but COII never sold a single unit in China
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Copyright 1994 PR Newswire Association, Inc.
PR Newswire
November 29, 1994, Tuesday
SECTION: Financial News
DISTRIBUTION: TO BUSINESS AND TECHNOLOGY EDITORS
LENGTH: 272 words
HEADLINE: CTI CONTRACTS DIGITAL EQUIPMENT OF CANADA TO MANAGE 6000-UNIT ORDER FOR CHINA
DATELINE: LAKE OSWEGO, Ore., Nov. 29
BODY:
Computerized Thermal Imaging, Inc. (CTI) (OTC Bulletin Board: COII) announced today that on Nov. 25, Digital Equipment of Canada Limited accepted the position of Paxton Development Inc.'s (Canada) "Prime Contractor." The agreement was finalized between David Johnston, CEO of Computerized Thermal Imaging, Inc., and Dr. Ben Chou, President of TriSun/CTI Asia, Ltd. As the contractor, Digital Equipment of Canada Limited will supply the products and services for the first 6,000 CTI(TM) Systems.
The first units are scheduled to be shipped to China in the first quarter of 1995. It was announced to the shareholders that this endeavor results in $3 billion in sales for the Company. This relationship is expected to be expanded to include an order received for 200,000 remote computer stations as well as the Taiwanese and Japanese markets when opened by TriSun/CTI Asia, Ltd., a joint venture 50% owned by CTI. Specific items of the agreement include:
1) Manufacture the Quantitative Assessment Lab;
2) Supply all DEC related hardware and software as identified;
3) Integrate all components;
4) Assist in negotiations with the Export Development Corporation
of Canada for the project financing;
5) Handle shipping to China;
6) System installation in China;
7) Ongoing maintenance and related instruction.
Computerized Thermal Imaging, Inc. trades on the National Bulletin
Board under the Symbol COII.
CONTACT: Computerized Thermal Imaging, 800-695-6956 |
