EcoTyre Technologies Inc. Announces Release of Shareholder Notices
18 June 1998
EcoTyre Technologies Inc. Announces Release of Shareholder NoticesBusiness Editors
HOLTSVILLE, N.Y.--June 18, 1998--EcoTyre Technologies Inc. announced Thursday that the Board of Directors has authorized the dissemination of notices to all shareholders pertinent to the following developments:
A) $4.2 MM Russian Distribution Agreement
B) NASD Notices
C) New Business Opportunities
D) New Funding Resources
E) Potential Merger/Acquisition Opportunities
Any shareholder requesting such information should mail a self-addressed stamped envelope to the company at 895 Waverly Avenue, Holtsville, NY 11742.
At its Holtsville facility, EcoTyre Technologies Inc. utilizes European remolding technology to manufacture and distribute a comprehensive line of premium high grade, high mileage, recycled automobile and light truck tires. Differing from the traditional "top cap" retreading process in which new tread is simply placed over the tread portion of a used casing, EcoTyre applies new sidewall and tread rubber to a completely buffed casing and permanently bonds the rubber to the casing from sidewall to sidewall in high temperature vulcanizing presses. The result is a superior quality tire which is virtually "indistinguishable" in appearance and comparable in performance to a new tire, but sells for as much as 30%-50% less than leading brands and is recycled. With the growing emphasis on the environment, this recycling process not only saves money for the consumer but saves the almost 22 gallons of oil required to make just one truck tire.
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, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, unpredictability of patent protection, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.