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Gold/Mining/Energy : Napier International Technologies Inc. (T.NIR) -- Ignore unavailable to you. Want to Upgrade?

To: xray who wrote (473)	6/12/1998 2:20:00 PM
From: Ginco	Read Replies (1) \| Respond to of 2444

Canada Stockwatch....This is a repost..notice that I.C.I.will be labeling(Aquasol)Hydrosol 700..and from the info I got now from what I.C.I was putting out at the OILSHOW SV-35 will be Hydrostrip 500 (the specs they give for SV-35 and Hydrostrip500 are the same) check it out Napier International Technologies - Aquasol International to be acquired; private labeling agreement Napier International Technologies NIR Shares issued 17286547 1998-04-17 close $1.3 Tuesday Apr 21 1998 Mr Bradley Aelicks reports Napier has reached an agreement in principle to acquire all of the outstanding shares of Aquasol International Inc, a private company operating out of Alberta, Canada. Aquasol International has developed, and is marketing, an environmentally friendly product known as the Aquasol Solution that is used as a cleansing solution to wash metal surfaces before painting or re-painting. The Aquasol Solution has proven to be the most effective cleanser of both chlorides (salt) and hydrocarbons (oil) available to the coatings industry. The Aquasol Solution is unique enough that the largest coatings company in the world, ICI Paint, a member of the ICI world group of companies, whose Industrial group operates under the ICI DEVOE Coatings label, has recently signed a private labeling agreement to market Aquasol under its own brand name, Hydrosol 700. In fact, ICI is currently writing specifications for the Hydrosol Solution to be used as a warranty requirement for particular projects and coating applications. At a recent presentation by ICI, attended by Napier's chairman Brad Aelicks, it was indicated that a large amount of industrial coatings failures are the result of surface contamination before coatings application. The use of the Hydrosol Solution will eliminate, to the greatest extent currently possible in the industry, the risk of coatings failure due to surface contamination of chlorides and hydrocarbons. The agreement between ICI and Aquasol, projects that ICI DEVOE Coatings will purchase a minimum $1.6 million of Aquasol Solution during the first year of the private labeling agreement. Sales of the Aquasol Solution are expected to increase as internal presentations are made throughout ICI's vast marketing arm, which covers 163 countries. Napier has also entered into negotiations, through Aquasol International, with ICI DEVOE Coatings for a private labeling agreement to market Napier's SV-35 line of environmentally friendly chemical strippers. The combination of Napier's SV product line with the Hydrosol 700 will allow ICI to substantially control the entire process of refurbishing from the start of the job to the finish in many instances. The market potential of these two products cannot be fully reviewed in this release but the following example will illustrate the magnitude of potential at hand. Currently in North America there are an estimated 925,000 above-ground storage tanks, predominantly used for the storage of oil and petroleum products. The refurbishment of these tanks requires washing with a cleansing fluid, often before and after stripping, then the stripping of both outside and inside surface areas. The market potential for this industrial application alone is expected to approach $100 million annually. Presently, the dominant method for removing coatings from these tanks is sandblasting because the toxic chemical strippers cannot be cost-effectively used within a closed structure. Sandblasting, although effective, can embed hydrocarbons and soluble salts into the metal surface which may be very difficult to remove and thereby compromise the coatings system to be installed. Napier's SV strippers are non-toxic, non-hazardous and emit no volatile vapors, qualifying them for use inside these structures. In addition, because the SV series lifts from the bottom up they will actually remove a great deal of the contaminants which remained on the surface after initial cleaning. On completion of the stripping the Hydrosol 700 cleaning solution will easily remove residual hydrocarbons and soluble salts (such as chlorides) in a final wash prior to abrasive blasting for emersion service tanks and vessels. Collectively, the use of SV series strippers and Hydrosol 700 will greatly reduce the risk of premature coating failure. Aquasol International has also formed a strategic relationship with Brandt Wadeco, a division of Tubescope Vetco Group which is the largest solids control company in the world with operating subsidiaries in 57 countries. Brandt Wadeco has licenced a closed-loop process (that has been patented by Aquasol) for the removal of salts and hydrocarbons from produced sands and oil based drill cuttings. The Aquasol process will also have significant application for the remedial cleansing of contaminated sands. The proposed transaction between Napier and Aquasol will be undertaken by way of a plan of arrangement which will be subject to a 30-day due diligence review by both companies, the approval of Aquasol shareholders and is also subject to Napier obtaining regulatory approval. The arrangement will require Napier to issue 5,934,597 common shares or approximately 16% of its share capital on a fully-diluted basis to Aquasol shareholders. Napier and Aquasol have further agreed, irrespective of the above noted transaction, to immediately enter into a mutual private labeling agreement so as not to delay the subsequent private labeling agreement with ICI. Therefore, if the plan of arrangement between Napier and Aquasol does not complete, both companies will nonetheless obtain certain exclusive marketing rights for the products of the other. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)