To: majormember who wrote (18995 ) 5/18/1998 10:29:00 PM From: DR. MEADE Respond to of 34592
Company Press Release SOURCE: Loch Harris, Inc. Loch Harris' Chemical Detection Technology Pursues DOD, Public/Private Sector Funding for Landmine Detection Project AUSTIN, Texas, May 18 /PRNewswire/ -- Chemical Detection Technology, Inc. (ChemTech), wholly-owned subsidiary of Loch Harris, Inc. (OTC Bulletin Board: LOCH - news) confirmed today that it has been contacted by the Department of Defense, the U.S. Air Force and several unnamed companies about participating in developing a prototype of its new landmine detection system. Contacts from a cross-platform DOD consortium in charge of technological development for detection of unexploded ordnance (UXO) and the U.S. Air Force expressed interest in other potential military applications as well, according to Rodney Boone, who is president and CEO of both ChemTech and Loch Harris. ''Each division has a different application for the technology,'' said physicist Dr. Henry Blair, who designed the landmine detection system. Blair now serves as consultant to ChemTech. Boone would not name potential commercial partners until ChemTech is ready to announce its selection. ''Until June 15 we are open to examine any funding or joint venture offers that might impact long-range, international marketing. We are looking beyond immediate prototype and manufacturing phases,'' he said. ''Synergy is as important as speed, even though we want to shorten the timeline to the marketplace as much as possible.'' Proposals should be sent to the attention of Matthew Harris, vice president for acquisitions at Loch Harris, Inc., 515 Capital of Texas Hwy, Ste. 245, Austin, TX 78746. ChemTech is anticipating the results of two DOD funding proposals now under consideration. Boone said one or both of these is to be in place as early as the third quarter. Loch Harris, Inc. acquires businesses, technologies and patents that it determines may have potential for growth and possible spin-off. The company now operates five wholly-owned subsidiaries, including PetroTech Resources International, Inc., with oil and gas interests; US Aerodyne, Ltd., manufacturers of solar-powered water delivery systems; AgraTech International, Inc., an agribusiness technologies firm known for its interests in breeding Tuli cattle; InfoTech International, Inc., a software development company known for its PC Sentry 93000 security systems; as well as Chemical Detection Technology, Inc. (For more information regarding Loch Harris or to request a free copy of the Loch Harris Newsletter, contact Mark Baker at 512-328-7808 or visit the company Web site at lochharris.com .) Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. SOURCE: Loch Harris, Inc. ------------------------------------------------------------------------ More Quotes and News:Loch Harris Inc (OTC BB:LOCH - news)Related News Categories: aerospace/defense ------------------------------------------------------------------------ Help ------------------------------------------------------------------------ Copyright c 1998 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information