To: Banditjrjr who wrote (27534 ) 2/14/2000 1:27:00 PM From: SSP Read Replies (1) | Respond to of 150070
FOCS - LAS VEGAS, Feb 14, 2000 (BUSINESS WIRE) -- FiberChem Inc. (OTCBB:FOCS), through its wholly owned subsidiary FCI Environmental Inc. (FCI), announced that it has signed an agreement to cooperate with a division of TNO, the Dutch research organization, to develop FCI's sensor technology for an application of immediate interest to the food and beverage industry. The project is also partially funded by Coca-Cola Enterprises-NL. FCI has been working with the same group within TNO Nutrition and Food Research Institute for the last two years on the development of improved devices for hydrocarbon detection to meet specific Dutch and European needs. This led to the selection of FCI's technology as the basis for development of sensors for a specific contaminant of interest to the food and beverage packaging industry at large. These developments could lead to a large new market for FCI's technology. Geoff Hewitt, chairman and chief executive officer, said, "We have been working with this group for about two years and are pleased that they have chosen our patented Fiber Optic Sensor technology as the basis for their most recent project. At the same time, due to the support of one of the world's most admired companies, we believe that there could be a world market for new products resulting from the successful completion of this development program. The project is in three phases. The first, now completed, was a feasibility study that led to the development phase which is now ongoing. If successful, this would lead to the introduction of products to address this important market." Sjaak van Veen of TNO said, "We have worked on a number of development projects with FCI and are pleased to have this opportunity to cooperate again." FiberChem Inc. develops, manufactures, markets and licenses fiber optic chemical sensors (FOCS(R)) that produce continuous, real-time information on environmental pollutants in the air, water and soil. This news release includes forward-looking statements that involve risks and uncertainties, including the timely development and acceptance of new products, specifically the development of sensors for a specific contaminant of interest to the food and beverage packaging industry at large, the impact of competitive products and pricing, the timely funding of customers' projects, customer payments to the company and the other risks detailed from time to time in the company's Securities and Exchange Commission reports. Copyright (C) 2000 Business Wire. All rights reserved. Distributed via COMTEX. -0- CONTACT: Continental Capital & Equity Corp. Scott A-B Gibson, 407/682-2001 www.insidewallstreet.com (Click on Special Situations) e-mail: scott@insidewallstreet.com