Good to read again:
ACMG - Official Communique From Bajaj Hindusthan Ltd.
via COMTEX
March 12, 2007
DELHI, INDIA, Mar 12, 2007 (MARKET WIRE via COMTEX News Network) --
Bajaj Hindusthan Ltd. (BOMBAY: BSE) releases this official statement for and through Alcar Chemicals Group Inc. (PINKSHEETS: ACMG) concerning present work and future plans.
Following the confusion created by a misunderstanding in internal communications, Bajaj Hindusthan Ltd (BHL) would like to clarify its relations with ACMG through this official communique.
BHL has in fact had discussions with ACMG regarding a possible future licensing agreement since early January of the current year. These discussions have been followed by the signing of a confidentiality agreement after which they intensified towards the process of setting up an optimization project to maximize efficiency when using the entire sugar cane plant. For obvious reasons we will not disclose the details and the end-products envisioned through this optimization we can, however, confirm that these optimizations are being undertaken by ACMG completely free of charge to BHL. Following discussions between our GM of BHL's Chemical Division, who also represented Bajaj eco-tec products ltd. during these talks, BHL will in return agree to let ACMG share the results with few select companies outside India that are using sugar cane as feedstock in their process after mutual consent with BHL.
This is not a guarantee, expressed or implied, that BHL and ACMG will be consummating any agreement in any way or form, this is a confirmation that BHL is working closely with ACMG pursuant to a possible future licensing agreement, or any other possible proposals that BHL will see fit at any given time.
About Bajaj Hindusthan Ltd.
Bajaj Hindusthan Ltd is a leading manufacturer from India of Sugar from sugar cane and also produces ethanol from sugar juice waste and Company has large quantity of sugar cane waste available for value addition.
