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Wednesday, February 14, 2001 6:56:14 PM
The Hong Kong Retrofit Market For Catalytic Converters Represents A Potential Of More Than $200 Million
MARKHAM, Ontario--(BUSINESS WIRE)--Feb. 14, 2001-- Environmental Solutions Worldwide, Inc., (ESW) (OTCBB:ESWW - news), a multi-national company that develops, manufactures and markets advanced pollution control technologies, today announced it will open a corporate sales office and technical training center in Hong Kong.
ESW has been involved during the past year in a test study conducted by the Hong Kong Government (HK-EPD), the Hong Kong Polytechnic University (HKPU) and other private sector entities, to monitor the real life performance of ESW's patent-pending diesel Clean Cat® Particulate Reactor in Hong Kong's environment.
Hong Kong authorities recently passed a legislation to impose HK$1,000.00 (US$130.00) fines on owners of highly polluting vehicles and equipment. Subsequently, the Hong Kong Environmental Protection Department (HK-EPD) is poised to implement an aggressive motor vehicle catalyst retrofit installation program in Asia. Beginning in October of this year, the HK-EPD will require every diesel engine to be fitted with an exhaust gas catalytic converter before the vehicle or equipment registration will be permitted, opening up a market opportunity for pollution-control related businesses such as ESW.
``There are presently more than 300,000 diesel-powered road vehicles, construction vehicles and generators in Hong Kong and Macau, and Hong Kong's mandatory catalytic converter retrofit installation program is on a very aggressive timeline, representing a potential in excess of a US$200 million market,'' stated David Johnson, Chief Operating Officer of ESW. ``With that said, this new corporate office will provide ESW with an excellent sales and marketing launch pad, a distinct advantage over our competitors. We intend to utilize this location to build our Asian base of operations and to develop a leading presence in Hong Kong for our Clean Cat® and Enviro Cat(TM) products.''
Mr. Johnson continued, ``This expansion to Hong Kong clearly demonstrates our ongoing commitment to globalizing our catalyst products. With our sales and marketing efforts in Hong Kong, we are simultaneously expanding our production capacity at our Telford, Pennsylvania facility in order to meet anticipated product demand.''
ESW also announced that Mr. Samson Sit has been appointed to oversee ESW's Hong Kong operation. Mr. Sit has spearheaded the Company's business relations over the past year and is a highly experienced sales engineer. He holds a B.S degree in Chemical Engineering and an M.S. degree in Mechanical Engineering, both from the University of Florida. As a native of Hong Kong Mr. Sit is fluent in two Mainland Chinese dialects, as well as English. He is also an active member of both the Air and Waste Management Association and the American Society of Mechanical Engineers.
For further information about the Hong Kong Pollution control initiatives, visit the following URLs, which are in the public domain and have no affiliation with ESW:
Hong Kong EPD: http://www.info.gov.hk/epd/
Clean The Air: http://www3.cleartheair.org.hk/
Clean Air For Hong Kong: http://www.pelb.gov.hk/cleanair/index.htm
About Environmental Solutions Worldwide, Inc.
Headquartered in Toronto, Environmental Solutions Worldwide, Inc. is a publicly traded research and development company engaged in the design, development, manufacture and marketing of pollution control technologies currently focused on the international automotive and transportation industries.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The ``Act''). In particular, when used in the preceding discussion, the words ``plan,'' ``confident that,'' ``believe,'' ``expect,'' or ``intend to,'' and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.
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Contact:
Madison & Wall Worldwide, Inc., Longwood, Fla.
Jill Stephenson, 407/682-2001
Email: esww@insidewallstreet.com
http://biz.yahoo.com/bw/010214/environmen.html
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