Dynapower Order from American Spring Wire
8 October 1998
Dynamotive Receives Dynapower Order from American Spring Wire and Completes Installation of First Systems in Japan and QuebecVANCOUVER, British Columbia, Oct. 8 -- DynaMotive Technologies Corporation announced today that it has received an order for its patented DynaPower wire cleaning system from American Spring Wire in Cleveland, Ohio, and has also completed installation of DynaPower systems sold recently to Nichiya Steel Works of Amagasaki, Japan and Intral societe en commandite of Princeville, Quebec. DynaMotive President and CEO Bayne Boyes said, "We are very pleased that American Spring Wire has ordered its first DynaPower system as this represents a breakthrough for our technology into the steel valve spring wire business supplying the North American automotive industry. Our successful installations of DynaPower systems at Nichiya and Intral are also firsts for our company -- the first of what we hope will be many orders from Japan, our first order in Quebec and also our first order for aluminum-clad steel wire used by electric utilities in high voltage transmission towers to carry optical fibre for high speed Internet, telephone and cable transmissions." "DynaMotive has made significant progress in commercializing its DynaPower metal cleaning systems over the past two years and has developed new, high value applications for both DynaPower and DynaSonics," commented David Miller, recently appointed DynaPower VP and GM. "The Company is now poised to capture increased market share in the wire cleaning industry, not only in Canada and the US, but also in Europe, Asia and Latin America." Details of the sale and installations announced today include: -- American Spring Wire of Cleveland, Ohio has ordered a 16 wire DynaPower/ DynaSonics system. ASW is a manufacturer and supplier of high carbon and alloy steel wire for a variety of industries including automotive, construction and agriculture. -- Nichiya Steel Works of Amagasaki, Japan -- Installation has been completed on a DynaPower/DynaSonics low carbon steel descaling and degreasing line. -- Intral societe en commandite of Princeville, Quebec -- Installation has been completed on DynaMotive's first DynaPower/DynaSonics high speed system for cleaning high carbon steel wire used in the manufacturing of aluminum-clad steel (AS) wire. DynaPower provides exceptional wire cleaning, lowers costs, operates at high speeds and totally eliminates the use of hazardous acid and caustics in the wire cleaning process. The award winning process uses electrolysis and ultrasound to remove lubricants and oxides and provide a metal surface that is clean, dry, pH neutral and adaptable for various industry applications. Systems have been sold in six countries. DynaPower and DynaSonics are registered trademarks of DynaMotive Technologies Corporation. Statements in this news release concerning the company's business outlook or future economic performance; anticipated profitability, revenues, expenses, or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission.