Here it is!!!...National Challenge and Canadian Waste to market waste system
National Challenge Systems Inc NLC
Shares issued 19,472,856 Aug 31 close $2.75
Wed 1 Sept 99 News Release
Mr. Floyd Wandler reports
On Aug. 31, 1999, National Challenge Systems, Inc. (NCS) entered into a
multiyear agreement with Canadian Waste Services, Inc. (CWS), regarding the
marketing of a new proprietary organic waste system throughout Canada. CWS
is the largest, fully integrated waste company in Canada and is a wholly
owned subsidiary of Waste Management, Inc., Houston, Tex.
NCS and its partner, Organic Resource Technologies, Inc. (ORTI), have been
working together for several years to develop, test, and market an organic
waste-solution program, the organic resource recovery system (ORRS). NCS
has the exclusive master distribution rights for North America to market,
rent, install and service the patented and proven ORRS units which process
organic waste produced at food handling facilities. There are already
approximately 40 ORRS units installed in large Canadian grocery stores,
some of which have been operating for over four years. ORTI and its
affiliates and subsidiaries own the patents for this unique technology.
The ORRS system has significant operational benefits to its users and
environmental benefits to the community: the processed organic waste can be
used as a soil conditioner/amendment instead of having to be landfilled,
composted or disposed of in municipal sewers. The primary users of the
organic waste disposal units are grocery stores, hotels, restaurants,
hospitals, universities, schools, airports, et al. There is no other
competing technology known to the company.
CWS and NCS believe that ORRS has enormous commercial potential. In Canada
alone, there are over 70,000 establishments that are large organic waste
generators: 50,000 restaurants, 9,000 grocery stores, 9,000 hotels, and
2,500 other establishments. The above marketing agreement will enable NCS
to penetrate the Canadian market rapidly by means of CWS's strong sales
force and large customer base. NCS will continue to rent, install, and
service all ORRS units.
Once the Canadian marketing program is under way, NCS will begin
aggressively marketing the ORRS program in the United States. The company
is still evaluating whether to enter the United States directly, through a
similar marketing program, or through a joint venture and is in discussions
with different interested parties. Preliminary estimates indicate that in
the U.S. there are over 500,000 establishments that are large organic waste
generators: 300,000 restaurants, 100,000 grocery stores, 50,000 hotels, and
80,000 others.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
