-- Commodore Names Edward L. Palmer to its Board --
/FROM PR NEWSWIRE NEW YORK 800-776-8090/
TO BUSINESS EDITOR:
Commodore Names Edward L. Palmer to its Board
NEW YORK, Aug. 14 /PRNewswire/ -- Commodore Applied Technologies, Inc.
(Amex: CXI, CXIW), announced today that Edward L. Palmer, former chairman of
the Executive Committee and director of Citicorp and Citibank, N.A., has been
named to the company's board of directors. Mr. Palmer will be replacing Ed L.
Romero, who resigned from the board after being named U.S. Ambassador to
Spain.
"We look forward to having Ed Palmer with us," said Paul Hannesson,
chairman and chief executive officer. "He will bring broad financial and
operating insights to our business."
In commercial banking for more than forty years, Mr. Palmer served in
various positions at Citibank for twenty-three years. While chairman of the
Executive Committee, he shared responsibility for general management of the
bank and served as chairman of the Finance and of the Asset and Liability
Policy Committees. As executive vice president at Citibank, he organized the
Corporate Banking Group, the unit responsible for credit and service functions
for all wholesale, commercial, specialized industry, financial institutions
and governmental banking.
Mr. Palmer is a trustee emeritus of Brown University, the New York
Philharmonic Society, and The Metropolitan Museum of Art. He is also
affiliated with the boards of the Devon Group, Inc., FondKlec Group Inc.,
IRI International Corporation, and SunResorts, N.V.
A graduate of Brown University, he served as lieutenant commander in the
U.S. Naval Reserve between 1942-1946.
The Commodore family of companies includes Commodore Applied Technologies,
Inc., (Amex: CXI, CXIW), Commodore Separation Technologies, Inc.
(Nasdaq: CXOT, CXOTW, CXOTP), Commodore Solution Technologies, Inc. and its
wholly owned engineering subsidiary, Commodore Advanced Sciences, Inc.
Commodore Applied is approximately 42% owned by Commodore Environmental
Services, Inc. (OTC Bulletin Board: COES).
SOURCE Commodore Applied Technologies, Inc.
/CONTACT: John Peterson - Media, or Melissa C. Berkowitz -
Shareholders,212-308-5800, both of Commodore Applied Technologies/
Symbols:
US;CXI US;CXIW US;CXOT US;COES
Source PRN - PR NewsWire
Categories:
NWR/NY NWI/CPR NWI/FIN NWS/PER
-- Commodore Separation Technologies, Inc. Reports Second Quarter, Six Month --
/FROM PR NEWSWIRE NEW YORK 800-776-8090/
TO BUSINESS, TECHNOLOGY AND ENVIRONMENTAL EDITORS:
Commodore Separation Technologies, Inc. Reports Second Quarter,
Six Month Results
NEW YORK, Aug. 14 /PRNewswire/ -- Commodore Separation Technologies, Inc.
(Nasdaq: CXOT, CXOTW, CXOTP), today announced results for the three and six
month periods ended June 30, 1998 (see table below).
Commodore Separation Technologies, Inc.
Condensed Statements of Operations
(Unaudited - dollars in thousands, except per share data)
Cumulative
Amounts Since
Inception
(Nov. 15, 1995)
Three Months Ended Six Months Ended to
June 30, June 30, June 30,
1998 1997 1998 1997 1998
Net Loss $(1,151) $(1,754) $(2,854) $(2,318) $(8,352)
Net Loss
Per Share (.10) (.16) (.20) (.22) --
Weighted Average
Number Of
Shares
Out-
standing 11,516,000 11,125,000 11,512,00 10,643,000 --
The first commercial application of the SLiM(TM) process is currently
being installed at two sites at the Port of Baltimore, where it will process
Chromium VI water leachates from two sites. The SLiM(TM) process removes the
contaminating Chromium VI from the leachates, cleansing the water to drinking
standards before it is deposited into Chesapeake Bay. The process removes the
Chromium VI and concentrates it for sale or disposal. It is expected to be
operational this quarter.
The Commodore SLiM(TM) process has been proven to selectively remove, for
recycling or disposal, materials from aqueous based solutions in both private
and public sector industries.
Commodore Separation Technologies is 87% owned by Commodore Applied
Technologies, Inc. (Amex: CXI). The Commodore companies are engaged in the
commercialization of new process technologies.
These materials contain forward-looking statements based on a series of
projections and estimates regarding economics within the company's markets,
the industries in which the company operates, the effects of legislation and
regulations, as well as business and competitive outlook.
SOURCE Commodore Separation Technologies, Inc.
/CONTACT: John Peterson, Media, or Melissa C. Berkowitz, Shareholders,both of
Commodore Separation Technologies, Inc., 212-308-5800/
Symbols:
US;CXOT US;CXI US;COES
Source PRN - PR NewsWire
Categories:
NWR/NY NWI/ENV NWS/ERN
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