Z,
I hadn't even seen this, thanks for the tip.
Thursday November 12, 1:50 pm Eastern Time
Company Press Release
Winners All International Announces Completion of Field
System
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Nov. 12, 1998--Winners All International Inc. (''Winners All'') announced that its wholly
owned subsidiary, Urecoats International Inc. (''Urecoats''), in conjunction with Gusmer-Admiral Inc. (''Gusmer-Admiral''), has completed
the major design and engineering revisions and tests in Akron, Ohio on the Field Spray Application System (''Field System'').
The long-awaited URECOATS 100(tm) Field System is scheduled to be shipped by the end of next week to Urecoats' Florida training
facility. An aggressive three week field test program will be conducted in Florida, during which time a one week training session will be
allotted, for training staff members of IPSEAL DE MEXICO, S.A. DE C.V. (''IPSEAL'') and for conducting other demonstrations for United
States' major roofing companies. Michael F. Bartenstein, president and chief engineer of Gusmer-Admiral, estimated an 8-10 week lead
time to manufacture the next four Field Systems. Moderate changes in the next production units will depend on data generated from the
field test program. Gusmer-Admiral has agreed to make its portion of the Field System for Urecoats as a proprietary product as long as it
is the sole provider.
Gusmer-Admiral is a worldwide leader in the design, manufacture and distribution of polyurethane and hybrid urethane systems and has
tens of thousands of spray application machines distributed throughout the world. (Refer to Internet Site ''http://gusmer.com'' for more
information.) Bartenstein stated that:
''Based on my 22 years in the polyurethane foam application field,
asphalt is the most foolproof method of coating built-up roofing
available today. The UreCoats process is unique in that an even,
thick, flexible coating is applied using polymeric compounds to
provide adhesion and structure without disturbing the desired
characteristics of the asphalt.''
IPSEAL has reaffirmed the 500,000 gallon Purchase Order for the URECOATS 100(tm) roofing product (''Product''), which includes a
shipping schedule over a 15 month period. Under the Purchase Order, shipping will commence after successful application of Product on
a 400 square meter roof in Mexico using the Field System. The Purchase Order provides payment terms that include a 50% deposit prior
to each month's shipment amount, with the remaining balance within 30 days. The Purchase Order is for $10 million.
Urecoats established a working relationship with Advanced Roofing Inc. (''Advanced Roofing''), a major Florida based roofing company,
who has already been utilizing spray technologies for urethane foam applications. Rob Kornahrens, president of Advanced Roofing, has
agreed to participate in the field test program and make his company's resources available, including roof top subjects and experienced
personnel. Kornahrens stated that: ''In his opinion, spray technology is the way of the future for the roofing industry. All the industry needs is
a viable product.''
Winners All is pleased with the progress of its Urecoats subsidiary.
Contact:
Winners All International Inc., Pompano Beach
Howard Weiser, Chairman and President, 954/977-5428 |
