Utah Clay Technology Inc. Makes Announcement
26 January 1999
Utah Clay Technology Inc. Makes Announcement
SALT LAKE CITY--Jan. 26, 1999--
Company Information: Utah Clay Technology Inc. Symbol: NASDAQ BB: UTCL Contact: Dennis S. Engh, president or Tony Lotito, director of marketing Price: Bid - $0.18 - Ask - $0.20 Common Stock Outstanding at 12/31/98: 5,556,574 Common Stock warrants outstanding at 12/31/98: None
Utah Clay Technology Inc. (OTC BB:UTCL), an investment banking firm was hired according to Dennis S. Engh, its president to advise the company on their financing of a new processing plant in southern Utah.
The first phase of the new plant is estimated to cost $15 million and will produce both hydrous and calcined kaolin pigments. The production capacity of the plant will be 100,000 tons per annum and will produce a sales volume of $30 million.
The new plant will take approximately a year to build. Engh also stated that this plant will be ISO Certified and be a low cost producer of kaolin pigments. The company presently produces its products utilizing contract processors. Utah Clay Technology Inc. has developed special processing technology to produce high quality kaolin pigments at reduced prices.
The company's operations are located in southern Utah where it mines, processes and distributes its kaolin products through chemical distributors to their industrial customers in the paint, plastic, ceramics, polishes, inks, adhesives, rubber, fibre glass, pharmaceuticals and cosmetics industries.
Utah Clay Technology Inc.
3985 South 2000 East
Salt Lake City, UT 84124