Union Pacific Adds to Purchases of Trident's ProMag; Magnetic-Powered Leak and Rupture Sealing Devices Recognized To Contain and Control Tank Car Leaks
March 13, 2003 08:10:00 AM ET
FORT WORTH, Texas--(BUSINESS WIRE)--March 13, 2003--21st Century Technologies, Inc TFCT today announced that Trident Technologies Inc., a wholly-owned subsidiary of the Company has sold an additional six ProMag units to the Union Pacific Railroad UNP.
Trident Technologies' ProMags are patented magnetic-powered leak and rupture sealing devices that are designed to contain and control tank car and pipeline leaks, and are especially useful in containing hazardous materials leaks. The ProMag units purchased will be employed by Union Pacific's Northern Response Effort and its contractors.
The history between Union Pacific and 21st Century Technologies goes back to 2000 when one of Union Pacific's railroads suffered a derailment near Waco, Texas. A ProMag unit, which was being used in the fire and hazardous materials safety school at Texas A&M University, was applied to the leaking tank car. The ProMag successfully contained the leak. After this hazard was avoided, a Union Pacific division, the Southern Response Effort, then bought six ProMags for its use.
The purchase of six additional ProMag units by the Northern Response Effort, another division of Union Pacific, will provide the same containment capacity as the Southern Response Effort. Mark Reimers, representing the Union Pacific Northern Response Effort, indicated that additional ProMags will be purchased subject to budgetary considerations.
Arland D. Dunn, Chairman and Chief Executive Officer stated, "Union Pacific has recognized the suitability of ProMag for railroad applications. I believe that other railroad companies and major players in the transportation industry will soon recognize the benefits offered by ProMag and its maritime equivalent, SeaPatch."
Interested parties can receive corporate and financial updates by sending the name and email addresses or fax numbers to TFCT@focuspartners.com.
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The statements made by 21st Century Technologies, Inc. (the Company) may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of the Company. Actual results could differ materially from those projected due to risks such as changes in interest rates, market competition, our ability to generate orders and various other business factors.
Contact Information:
Investor Contact
FOCUS Partners LLC
David Zazoff, 212/752-9445
TFCT@focuspartners.com
or
21st Century Technologies, Inc.
Larry B. Bach, 818/707-9466
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