Rentech Announces REN Corp./ Parker Hannifen Contracts
Rentech Announces REN Corp./ Parker Hannifen Contracts
DENVER and STILLWATER, Okla., Aug. 6 - Rentech Inc., (Amex: RTK) today announced that REN CORPORATION (REN), has further increased its record setting sales efforts with new purchase orders received from Parker Hannifin Corporation . Rentech has made a substantial investment in REN and is in the process of acquiring a majority position. The orders from Parker Hydraulics, which are valued at more than $500,000 are for a new automated test stand, as well as renovation and relocation of older model REN equipment. The new test stand will be capable of testing both hydraulic pumps and motors and will be fitted with REN's third generation control software. The combination of a state of the art graphical user interface with the operational reliability of REN's 9025 controller will provide Parker's assembly and test operation with exceptional productivity and flexibility. "We are very proud that REN has been selected to be a part of Parker's commitment to utilizing the latest industrial and information systems and practices to keep Parker's plants at the leading edge of manufacturing technology," stated REN CORPORATION President Gary A. Roberts. "As a result of their recent acquisitions, our history as a supplier of test equipment to Parker now extends back more than 12 years with test stands installed in several of their plants in North America and Asia," continued Roberts. Parker Hannifin Corporation, with headquarters in Cleveland, Ohio is the world leader in motion and control technologies, providing systematic, precision-engineered solutions for a variety of commercial, industrial, mobile, instrumentation and aerospace markets. REN CORPORATION, located in Stillwater, Oklahoma, is a twenty-year old manufacturer of automated industrial systems, specializing in test equipment for the fluid power industry. Rentech, Inc. is the developer and licensor of a patented and proprietary Fischer-Tropsch, gas-to-liquids process, for the conversion of synthesis gas made from natural gas, industrial off-gas, or solid or liquid carbon-bearing materials into high-value fuels, products and chemicals. These products include cleaner burning, sulfur- and aromatic-free diesel fuel, naphtha, waxes and fuel for fuel cells. SAFE HARBOR STATEMENT Certain information presented herein may contain "forward-looking" statements as defined by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any number of important risk factors could cause actual results to differ materially from those in the forward-looking statements herein and include and are not limited to: cancellation of GTL studies, poor weather restricting oil field service work; inclement weather reducing orders for sealers and paints; and, the inability of debtors to pay for product or services. For more information concerning risk factors that could cause such a difference, see the Company's annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. Although Rentech believes its statements to be reasonable, investors are cautioned that such forward-looking statements involve risk and uncertainties. The Company undertakes no obligation to publicly release the result of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For more information please contact: Mr. Gary A. Roberts, President, REN CORPORATION at 405-533-2700, or by E-mail at sales@rencorp.com, or see the Company's website at http://www.TestStand.com. For general information inquiries contact: Mark Koenig, Director of Investor Relations, Rentech, Inc. at 303-298-8008, or by E-mail at mkir@rentk.com, or see the Company's web site at: http://www.rentechinc.com.
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