Tuesday, January 07, 2003 11:33:01 AM
IBCI'S Partner NOVA BIOGENETICS Set to Sign New Joint Venture Contract With Megastar in China
Monday January 6, 10:21 am ET
ATLANTA, Jan. 6 /PRNewswire-FirstCall/ -- International BioChemical Industries, Inc. (OTC Bulletin Board: IBCL - News), is pleased to announce Nova Biogenetics has set to sign a new joint venture agreement with Megastar of China, with an anticipated closing by mid January. Under the new format there are performance criteria that are required to be met, as well as LOC's for all orders; however, the program is not based on guaranteed revenue amounts, rather estimated quarterly amounts. The program is based on a working relationship between the two companies to meet the objectives of IBCI, Nova and Megastar. Megastar will provide Nova status reports and plans on a regular basis, including projected volumes by quarter as part of the new program. Ms. Deirdre Baker stated, "after months of negotiation we are very excited about Nova rejuvenating the relationship with Megastar and moving to the quarterly projected purchase rate. Megastar plans to begin reordering under the new agreement by the second quarter of this calendar year." The new agreement expands the opportunities in the Asian markets including Japan, Malaysia and other areas of Asia.
About International BioChemical Industries, Inc.:
International BioChemical Industries, Inc. is a Norcross, Georgia-based emerging growth company focused in biotechnology and antimicrobial products. Its core business is committed to the discovery, development, marketing and sale of surface-modifying antimicrobial and biostatic products. The company's antimicrobial technology is a revolutionary alternative to conventional sanitizers, disinfectants, bleaches, biocides or preservatives primarily because it kills bacteria on contact and can remain active for extended time periods. To date International BioChemical Industries, Inc. has received four U.S. patents and eight EPA registrations, including the first U.S. germ killer and disinfectant against Salmonella cholerasuis, Staphylococcus aureus and other microorganisms. The company has developed several alliances in different industries, such as healthcare, textiles and storm water. Further information on IBCI and its line of products can be found by visiting the firm's web site at http://www.bioshield.com , or by calling Deirdre Baker at 1-770-925-3653.
Safe Harbor/Forward-looking Statements:
Statements in this news release that are not historical are forward- looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in any forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the company, including areas such as: developing technologies; dependence on collaborative partners; the inherent complexity and uncertainty regarding the development of products; early-stage development of IBCI the result of research and development efforts; future capital needs; uncertainty of additional funding; government regulations; and other factors which are detailed in the company's periodic reports and registration statements filed with the Securities and Exchange Commission. IBCI does not undertake to revise or update any forward- looking statement to reflect events or circumstances that may arise after the date hereof. BioShield is a trademark of IBCI.
The best weapon against "fear" is "facts"!!
Monday January 6, 10:21 am ET
ATLANTA, Jan. 6 /PRNewswire-FirstCall/ -- International BioChemical Industries, Inc. (OTC Bulletin Board: IBCL - News), is pleased to announce Nova Biogenetics has set to sign a new joint venture agreement with Megastar of China, with an anticipated closing by mid January. Under the new format there are performance criteria that are required to be met, as well as LOC's for all orders; however, the program is not based on guaranteed revenue amounts, rather estimated quarterly amounts. The program is based on a working relationship between the two companies to meet the objectives of IBCI, Nova and Megastar. Megastar will provide Nova status reports and plans on a regular basis, including projected volumes by quarter as part of the new program. Ms. Deirdre Baker stated, "after months of negotiation we are very excited about Nova rejuvenating the relationship with Megastar and moving to the quarterly projected purchase rate. Megastar plans to begin reordering under the new agreement by the second quarter of this calendar year." The new agreement expands the opportunities in the Asian markets including Japan, Malaysia and other areas of Asia.
About International BioChemical Industries, Inc.:
International BioChemical Industries, Inc. is a Norcross, Georgia-based emerging growth company focused in biotechnology and antimicrobial products. Its core business is committed to the discovery, development, marketing and sale of surface-modifying antimicrobial and biostatic products. The company's antimicrobial technology is a revolutionary alternative to conventional sanitizers, disinfectants, bleaches, biocides or preservatives primarily because it kills bacteria on contact and can remain active for extended time periods. To date International BioChemical Industries, Inc. has received four U.S. patents and eight EPA registrations, including the first U.S. germ killer and disinfectant against Salmonella cholerasuis, Staphylococcus aureus and other microorganisms. The company has developed several alliances in different industries, such as healthcare, textiles and storm water. Further information on IBCI and its line of products can be found by visiting the firm's web site at http://www.bioshield.com , or by calling Deirdre Baker at 1-770-925-3653.
Safe Harbor/Forward-looking Statements:
Statements in this news release that are not historical are forward- looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in any forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the company, including areas such as: developing technologies; dependence on collaborative partners; the inherent complexity and uncertainty regarding the development of products; early-stage development of IBCI the result of research and development efforts; future capital needs; uncertainty of additional funding; government regulations; and other factors which are detailed in the company's periodic reports and registration statements filed with the Securities and Exchange Commission. IBCI does not undertake to revise or update any forward- looking statement to reflect events or circumstances that may arise after the date hereof. BioShield is a trademark of IBCI.
The best weapon against "fear" is "facts"!!
The best weapon against "fear" is "facts"!!
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