CalciTech Announces Merchant SCC Plant Project
11/14/2011
GENEVA--(BUSINESS WIRE)--CalciTech Ltd. (OTCBB: CLK) announces today that it’s European licensee, CalciTech Synthetic Minerals Europe Ltd (“CSME”) has signed a Letter of Intent relating to the construction and operation of a Synthetic Calcium Carbonate (“SCC”) plant on the site of SKW Stickstoffwerke Piesteritz GmbH (“SKWP”). The plant, with planned production of 50,000 tonnes per annum will be situated on the Agro-Chemie Park, Piesteritz in Lutherstadt-Wittenberg, Germany. Feasibility should be completed by 31 December 2011 at the latest.
“This is the first of a number of smaller merchant plants intended to be built in Europe and has required a design modification from our 100,000 tonnes per annum plant developed in 2007.”
SKWP is the largest producer of ammonia in Germany and is actively developing business on the Agro-Chemie Park. In addition to renting a suitable plot of land to CSME, and providing utilities and site services, SKWP will supply the CO2 required for this SCC plant.
Thomas Livingstone-Learmonth, COO of CSME said: “This is the first of a number of smaller merchant plants intended to be built in Europe and has required a design modification from our 100,000 tonnes per annum plant developed in 2007.”
Roger Leopard, CEO of CalciTech Limited commented: “The Agro-Chemie Park is an excellent location for this plant, which is exceptionally well developed and will significantly contribute to its high “green” standards absorbing carbon emissions.”
About CalciTech Ltd:
CalciTech Ltd has developed and patented unique technology for the production of Synthetic Calcium Carbonate, “SCC” a specialty material that may be widely used in industrialized parts of the world and is developing operating licensees in these territories, the first being in Europe. With its technological capabilities, CalciTech will continue to develop the product potential into other areas.
About CalciTech Synthetic Minerals Europe Ltd:
The Company, recently established in England, has been granted an exclusive license for Europe to execute on the business plan to develop the use of SCC specialty products within the high end valued segments of paper, paint, polymer and related areas, food and pharma applications. CSME, independently managed, is seeking funding through the London market for investment in Europe.
About SKW Stickstoffwerke Piesteritz GmbH:
SKWP is the largest ammonia and urea producer in Germany and is located at the 220 hectare Agro-Chemical Park Piesteritz being unique in Germany. About 800 employees at sites in Piesteritz and Cunnersdorf produce a broad range of industrial chemical and agrochemical products, around four million tons of products every year. The company is also one of the most innovative fertilizer producers in Europe. The modern products for plant nutrition are developed in the company's own research and development centre. In Cunnersdorf near Leipzig, everything that is connected with the concrete use of the innovative fertilizer products is tested, examined and investigated on over 170 hectares. SKWP is part of the Agrofert Group owned by Andrej Babiš.
The directors of the company take responsibility for this announcement.
