Solpower Announces Plant Expansion, Strategic Realignment
28 September 1999
Solpower Announces Plant Expansion, Strategic Realignment
SCOTTSDALE, Ariz.--Sept. 27, 1999--Centralized Management Program To Accelerate Domestic Growth
Solpower Corp. (OTC BB: SLPW), a publicly traded, international leader in environmental enzyme technology, has announced the expansion of its Phoenix Soltron(TM) manufacturing plant to meet projected increased demand from western U.S. clients in 2000.
The announcement was made in conjunction with the company's annual report (SEC Form 10-KSB), and management's discussion of a strategic realignment which includes acquisition last week of domestic regional licensing agreements for the Southeast territory, and buy-back of the Great Lakes territory license in May.
The acquisitions are part of the company's aggressive American growth program for 2000 under the direction of Vice Chairman and Director of Marketing Peter Voss and President/Chief Executive Officer James H. Hirst.
Voss, who has been leading Solpower's successful expansion of its Australian and Pacific Rim divisions from Australia, will now be based at the company's headquarters in Scottsdale, to assist in the continued development of the international and domestic markets.
"Response from the American marketplace and increased demand for environmentally safe fuel and refrigerant products has compelled us to regain control of regional territories to optimize our sales initiatives and streamline our delivery systems under a mantle of high quality control," said Voss.
"This will allow us to deliver product nationwide from two, highly efficient production facilities at opposite ends of the country," he added.
According to Hirst, the company will be dismantling its plant in Elkhart, Ind., to help facilitate the Phoenix expansion. Construction on a new plant to service clients in the eastern half of the country will commence in spring 2000. Negotiations are currently underway to locate that facility in northwestern New York State, said Hirst.
Solpower Corp. is dedicated to the profitable commercialization of environment friendly products and technologies.
It currently manufactures, markets, distributes and sells products which include Soltron(TM), an enzymatic fuel treatment, and SP34E(TM), a drop-in alternative refrigerant gas to R12 and R134a which was added to the product line last year and is now ready for introduction into the North American market.
In addition, they also own the worldwide proprietary rights, trademarks and patents to SP34H (refrigerant gas), Ecolyzer(TM) (enzymatic oil treatment), SolCharge (environmentally friendly, extended life, battery energizer) and various other leading environmentally friendly products and technologies.
A fully reporting public company, Solpower Corp. was incorporated in 1982 and is based in Scottsdale. The company production and distribution facility is located in Phoenix. For more information on the company or its products, contact Byron Burke at 602/440-1786 or Susan Bryan at 602/417-1573; or go to www.solpower.com to view the company's website.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
Factors which would cause or contribute to such differences include, but are not limited to, factors detailed in Securities and Exchange Commission filings.