Friday July 21, 9:01 am Eastern Time
Company Press Release
General Electric Silicones/Green Earth Solutions Grants License to Dryclean USA
New Machine Using Environmentally Safe Solvent Introduced
MIAMI--(BUSINESS WIRE)--July 21, 2000--DRYCLEAN USA, Inc. (AMEX:DCU - news) announced today that its Aero-Tech division has entered into a License Agreement wtih GE Silicones and Green Earth Solutions, a Joint Venture, to utilize their processes and products in the research, development and manufacture of drycleaning equipment.
The remarkable Green Earth Cleaning System is non-toxic, chemically inert and is an environmentally friendly modified liquid silicone, similar to GE products that are used world-wide in deodorants, shaving lotions and cosmetics. It is non-toxic from oral, dermal and inhalation standards as defined by EPA Protocol.
The new Aero-Tech, ``Green Jet''(TM) family of drycleaning machines have been designed to utilize unique new drycleaning processes and solvents.
The first generation of ``Green Jet''(TM) rigid mount drycleaning machines, utilizing vacuum assisted drying and distillation technology have been operating with Exxon DF 2000 Solvent very successfully for many drycleaners for over one year.
The second generation of ``Green Jet''(TM) soft mount drycleaning machines utilizing GE Green Earth Solutions is now available. These new machines are all stainless steel, and with their dynamic suspension systems are capable of extract speeds to 900 RPM, which will remove 90% of the solvent, before drying. Vacuum dry completes the cleaning cycle providing a total cycle time of approximately forty minutes.
These new machines will make the drycleaning process almost completely environmentally safe. Drycleaners are subject to strict regulations from EPA, OSHA and State and local regulatory agencies.
These new machines will allow the drycleaners throughout the United States and the world to comply with all environmental regulations while efficiently producing environmentally friendly products for the consumer that cleans all types of garments beautifully.
Dryclean USA is one of the largest franchise and license operations in the drycleaning industry and currently consists of nearly 400 franchised and licensed stores in the United States, the Caribbean and Latin America. The Steiner-Atlantic/Aero-Tech division is one of the nation's leading distributors of industrial laundry, drycleaning equipment and steam boilers.
The private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
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Contact:
DRYCLEAN USA, Inc., Miami
Michael Steiner, CEO, 305/754-4551 |
