United States Navy's Emergency Ship Salvage Material System Purchases 21st Century Technologies' Trident Magnets For Underwater Operations
November 03, 2003 1:50:00 PM ET
The United States Navy's Naval Sea Systems Command has placed an order through their contractor, GPC, for twelve new Trident Magnet Assemblies for its Emergency Ship Salvage Material System (ESSM). ESSM is comprised of a combination of bases and complexes that provide ship salvage, pollution control and ocean engineering equipment on an emergency basis. The Trident Magnet Assemblies are manufactured by Trident Technologies, Inc., a wholly-owned subsidiary of 21st Century Technologies, Inc. TFCT.
This latest purchase builds on a 3-year relationship between Trident and ESSM. The rare-earth permanent magnets purchased by GPC for the U.S. Navy are similar to the magnets used by ProMag and SeaPatch, Trident's efficient rupture and leak sealing systems employed by private industry. The ESSM Trident magnets are used as anchoring platforms for underwater salvage operations. The most recent successful deployment was an underwater oil recovery mission on the U.S.S. Mississinewa located at the Ulithi atoll in the North Pacific.
The Trident Magnet Systems are used to affix hot tap flanges for environmentally safe removal of oil from sunken ships. They are also used to mount boring machine systems used to test hull integrity. Additional uses are under study to provide magnetic solutions for the diverse challenges of underwater emergency salvage operations.
Arland D. Dunn, President and CEO of 21st Century said, "This sale is significant. We expect the applications available for our magnets to expand greatly. ProMag and SeaPatch are really the beginning of far wider applications for our high-tech powerful magnets. This relationship with the U.S. Navy is important to 21st Century and Trident. This purchase by GPC will help us in our efforts to obtain funding from the Department of Homeland Security so that our nation's 31,000 fire departments can be equipped with ProMag and, where appropriate, its marine engineered brother, SeaPatch. The future remains bright."
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The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
Contact Information: Equitilink, Inc.
Ron Garner, 877-788-1940
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