21st Century's Trident Breaks Into China; Large Sale of ProMag 4 Sets Is Just the Beginning
January 13, 2003 08:01:00 AM ET
FORT WORTH, Texas--(BUSINESS WIRE)--Jan. 13, 2003-- Arland D. Dunn, Chairman and CEO of 21st Century Technologies, Inc. and President of its wholly-owned subsidiary, Trident Technologies, Inc. TEXN, announced that negotiations have been completed for the immediate sale of 50 ProMag 4 magnet-power configured for marine application sealing sets to a firm in the People's Republic of China. "The negotiation has been long and difficult," stated Mr. Dunn. "However, there was never any doubt that the Chinese recognized from the start the value of our ProMag/SeaPatch system. Not only do they depend on the maritime trade for commerce, but they are surprisingly environmentally-conscious. We settled on terms that are fair to all parties."
Mr. Dunn emphasized his belief that this initial order is only the beginning of substantial trade with the Chinese. Mr. Dunn stated that the company's representative in China expects that the next order from this initial Chinese customer will be from 500 to 1,000 ProMag/SeaPatch sets. He expects this order to be placed in the near future. The present order, including demonstration/instructional sets in addition to the 50 sets initial order, is approximately US$500,000.00 "They have requested proposals for custom-sized SeaPatch systems to meet certain needs they foresee, in addition to the ProMag 4s which are in this initial order. Design and development are already well underway. We will be able to meet the requirements for these specialized systems promptly and in a manner satisfactory to our customers."
"All of our efforts to date in the Chinese marketplace have been directed to marine applications. We believe that our customers in China will recognize early on the many land-based situations in which our magnetic patch system will be applicable. China's rapidly-growing market economy be able to use large numbers of our products. We look forward to a long and profitable relationship with our Chinese customers," said Mr. Dunn.
ProMag and SeaPatch are patented systems which stop leaks by employing powerful high tech magnets in conjunction with seals which are mounted on sturdy frames to seal leaks and ruptures, including those leaking the most toxic, hazardous and flammable materials. The problems presented by fire hazards from welding or prolonged exposure to toxicity are eliminated or greatly reduced due to the speed and ease with which ProMag and SeaPatch sealing systems may installed. Underwater installation is accomplished quickly and easily with Trident's magnetic leak sealing system.
All statements other than statements of historical fact included in this report are "forward-looking statements." The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. ProMag and SeaPatch are trademarks owned by Trident Technologies, Inc.
Contact Information:
Trident Technologies, Inc.
Larry B. Bach, 818/707-9466
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