Kurchatov Research Holdings, Ltd. Completes Acquisition of German Design and Engineering Company
6 December 1999
Kurchatov Research Holdings, Ltd. Completes Acquisition of German Design and Engineering Company
BERLIN--Dec. 6, 1999--Kurchatov Research Holdings, Ltd. (OTCBB: KRHL) announces that it has completed the acquisition of Cetoni Umweittechnolog Entwicklungs GmbH ("Cetoni"), a German engineering and design company.During the previous seven years, Cetoni has focused its unique engineering and design resources on the development of product offerings in the automotive and consumer products sectors. The firm has the ability to conceive and execute total engineering, design and packaging for virtually any commercial product and has current manufacturing operations in Germany, Hungary and Romania. Cetoni products have been sold to the consumer markets in Europe and the United States through retail and wholesale distributors. Marketing efforts continue in those locations and are being aggressively expedited in the Pacific Rim.
Management of KRH believes that the acquisition of Cetoni will bring a synergy to KRH's technology and product offerings. Cetoni's ability to engineer, manufacture and distribute quality products world wide will help generate immediate revenues for KRH.
KRH is a diversified technology holding company organized to identify, assess, acquire and commercialize technologies developed by scientists, engineers and research institutes worldwide.
This release may include "forward looking statements" within the meaning of various provisions of federal and state securities laws and judicial interpretation of such laws. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions and uncertainties which could cause actual results to differ materially from those expresses in the forward -looking statements. Such uncertainties include, among others, the following: (I) market acceptance of the products developed by Cetoni; (II) the impact of products and technologies competitive with those developed by Cetoni; (III) the ability of KRH to market Cetoni's products successfully; and (IV) other factors not now known to the company. Whether actual results will conform to the Company's expectations and predictions is subject to the risks and uncertainties described above that may cause actual results to differ materially. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.