Press Release as of March 4, 1997
INTERNATIONAL ABSORBENTS' BENETECH
VENTURE IN PRODUCTION
- - Annual Processing Capacity Of 85,000,000 Pounds - -
BELLINGHAM, WA, March 4, 1997...International Absorbents Inc. (NASDAQ:
IABSF), a leading manufacturer and marketer of absorbent products made from waste wood pulp, announced today that BeneTech, LLC, their fifty percent owned joint venture in central New York, has commenced operations. The new facility is processing waste fiber pulp from local paper mills into bedding material for dairy animals.
"Test marketing has already created an almost 1,000,000 pound backlog of orders for BeneTech," commented Geoff Lawrence, CEO of Absorption Corp., International Absorbents' operating subsidiary. "Dairy farmers have discovered that our product creates a drier climate within their barns, which is key to reducing the incidence of mastitis, a common and serious infection in cows."
"BeneTech should be operating five days a week within sixty days and reach its estimated annual processing capacity of 85 million pounds within a year," continued Mr. Lawrence. "Additionally, we are evaluating the economic feasibility of producing other high-value products at the BeneTech facility."
International Absorbents Inc. develops, manufactures and markets patented and proprietary, cost- effective sorbent products derived from recycled, renewable materials. These environmentally safe products outperform conventional products used in a broad range of industrial and consumer applications, including oil and hazardous liquid spill cleanup and control, oil/water filtration, packaging and commercial/retail animal bedding and litter. In late 1996, the majority of the Company's operating management was replaced with several senior executive having extensive international
sales and operations experience.
Further information about International Absorbents is available at
www.absorbent.com.
Contact:
Charles (Chuck) Tait Lisa Quinn
International Absorbents Inc. Rothschild & Banks, Inc.
(604) 681-6181 (908) 901-1111
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