Environmental Solutions Worldwide, Inc.: Recat Inc. Signs Distribution Agreement for ESW's Off-road Catalysts in California Market
CONCORD, Ontario--Environmental Solutions Worldwide, Inc. (ESW) (OTCBB:ESWW) announced today that the Company’s wholly owned subsidiary ESW Canada Inc. (ESWC) has signed a three year distribution agreement with the California based Recat Inc. (RECAT). Under the terms of the agreement, RECAT has become the preferred distributor for the Company’s proprietary off-road catalysts and support technologies for the state of California.
“Our goal at Recat is to find and deploy forward-looking solutions, like the products developed by ESWC, that are both technologically sound and tough enough to survive the harsh construction environment,” said Tom Yeager, president of the Perris, California based company. “This equipment is the backbone of the industry, and our customers don’t want to see projects curtailed or slowed down because equipment isn’t in compliance. The California Air Resources Board (CARB) believes there are over 185,000 engines that will need to be brought up to the new mandated standards. Right now we feel that we’ve brought together the best talent and emerging technology to help customers keep their diesel equipment on the job and in compliance.”
CARB has made clear its intent to dramatically reduce particulates emitted by older (pre- 1996) heavy equipment known as “Tier 0” vehicles, according to John Dunlap, former CARB chairman and newly appointed member of the ESW Board of Directors. These older bulldozers, excavators, and scrapers make up almost two-thirds of the California fleet. “We believe the revenues from helping our customers solve their diesel emissions problems will result in substantial growth for both ESWC and RECAT.”
David J. Johnson, ESW's President and CEO commented, “We are pleased to welcome RECAT to our Company’s growing list of distributors and partners. Recat’s professionalism and reputation in the off-road industry as being the go to company for used/reconditioning Caterpillar® parts and service makes them a formidable ally for this emerging market. We are looking forward to an excellent relationship with the Recat team and assisting them to become the dominant player in this emerging market.”
About Recat Inc.
Recat, an employee-owned company, founded in 1991, specializes in providing contractors with used Caterpillar parts and rebuilt Caterpillar components. “We truly have people with talent,” Yeager noted. They include technicians who pioneered Caterpillar’s own groundbreaking “repower” program and who formed part of the original team that developed the Caterpillar dual fuel system. “All in all, our employee/owners have a combined total of more than 150 years experience in solving mechanical problems with innovative solutions.”
For more information, please visit the company’s web site at: www.recat.com
About Environmental Solutions Worldwide Inc.
Headquartered in Concord, Ontario, Environmental Solutions Worldwide, Inc. is a publicly traded company engaged through its wholly owned subsidiaries ESW Canada, Inc. and ESW America, Inc. (the ESW Group of Companies) in the design, development, ISO 9001:2000 certified manufacturing and sales of environmental technologies. The ESW Group of Companies currently manufacture and market a diversified line of catalytic emission control products and support technologies for diesel, gasoline and alternative fueled engines. The ESW Group of Companies also operates a comprehensive EPA/CARB recognized emissions testing and verification laboratory.
For updated information, please visit the Company’s Web site at: www.cleanerfuture.com
Safe Harbor
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The “Act”). In particular, when used in the preceding discussion, the words “pleased” “plan,” “confident that,” “believe,” “expect,” or “intend to,” and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company’s products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company’s SEC reports and filings.