NEWS: More CDSI sales
ALANCO Inks New China Contract
Pollution Control Business Accelerates
Three Systems for SINOPEC Plant
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nov. 14, 1997--Alanco Environmental Resources Corp. (NASDAQ:ALAN - news) Friday announced it has signed an agreement for the installation of three of the company's Charged Dry Sorbent Injection (CDSI) industrial air pollution control systems in the SINOPEC Lanzhou Chemical Industry Corp. plant in Gansu Province, China.
The $455,200 sales contract is with Pec International Leasing Co. Ltd., Beijing, which in turn will lease the Alanco CDSI systems to SINOPEC Lanzhou Chemical. Pec International's primary business is financing of import and export trade in China. SINOPEC (China Petrochemical Corp.), one of four shareholders of Pec International, is China's largest refining and petrochemical business and the world's third largest petroleum refiner.
Edward Maley, chairman and chief executive officer of Alanco, said, ''This agreement demonstrates the accelerating penetration of Alanco's industrial clean air technology in China. Two years ago we sold one CDSI system to a power plant in China, which was an opportunity to demonstrate our performance in a prolonged operation.
''Based on that success, the following year we sold another single system to a steel mill in China. This system, too, passed all the environmental compliance tests and added to Alanco's reputation throughout China. Now the pace is quickening dramatically. So far this fiscal year, which began July 1, we have sold 11 CDSI systems in China.''
The contract was negotiated by Sammy W.Y. Lin, chairman and CEO of Alanco Environmental Technology (Beijing) Co. Ltd., a wholly owned Alanco subsidiary incorporated in China. Lin said, ''We can take a great deal of pride in Alanco's importance in China's plan to address its environmental problems. China has awarded only two flue gas desulfurization projects nationwide this year. Both went to Alanco.''
''We welcome Pec International's participation in this new contract,'' said Lin. ''Their willingness to purchase Alanco technology for lease to industrial users gives us a tremendous new marketing leverage in China.''
The Alanco CDSI system is one of only five environmental technologies listed in China's Agenda 21, the country's environmental cleanup plan for the next century. Alanco currently has a marketing agreement in China for its CDSI technology with China National Environmental Protection Co., one of the country's largest environmental enforcement companies.
Alanco's patented CDSI system uses an electrostatically charged sorbent to remediate and remove noxious gases such as sulfur dioxide from a hot exhaust gas stream. The CDSI system is notable for being both more efficient and cost effective than competing technologies.
-------------------------------------------------------------------------------- |
