WILTON, Conn., April 28 /PRNewswire-FirstCall/ --
Startech Environmental Corp. (Nasdaq: STHK), announced today that it has
signed a distributor agreement with Mihama, Inc. for the sale of Startech
products and services in Japan. As consideration for the distribution rights
granted to Mihama a non-refundable deposit of two-hundred fifty thousand
dollars ($250,000.00) was paid. Additionally, the Agreement requires the
purchase of the first Plasma Converter System within sixty (60) days.
Mihama, Inc., headquartered in Nagano-Ken, Japan, is a well established
manufacturer and seller of automotive parts and accessories that is now
expanding into recycling of wastes, environmental technologies, development
and sales of industrial machines and management of industrial plants. Mihama
has annual sales exceeding $15,000,000 USD. Mihama customers include various
international companies including Toyota Motor Corporation and General Motors
in the automobile sector, NTN Corporation in the CVJ (Constant Velocity Joint)
sector and trading companies including Toyota Tsusho, among others."
Mr. Mamoru Hama, President of Mihama said, "I am very excited to add the
Startech Plasma Converter and associated engineering services to our company's
expanding role in the Japanese recycling and waste management sector. I
believe this is the beginning of a long and profitable relationship. In fact,
we have already selected the site for our first sale and concluded preliminary
negotiations with our initial customer."
Joseph S. Klimek, Startech's President & CEO said, "Mihama has the skill,
foresight and financial capability to bring our products and services to
market in Japan. I have been very impressed with Mihama's sales plan and
management team. Mr. Hama has an excellent grasp of what is necessary to
penetrate the Japanese market."
Safe Harbor for Forward-Looking Statements:
This press release contains forward-looking statements, including
statements regarding the Company's plans and expectations regarding the
development and commercialization of its Plasma Converter(TM) technology. All
forward-looking statements are subject to risk and uncertainties that could
cause actual results to differ materially from those projected. Factors that
could cause such a difference include, without limitation, general risks
associated with product development, manufacturing, rapid technological change
and competition as well as other risks set forth in the Company's filings with
the Securities and Exchange Commission. The forward-looking statements
contained herein speak only as of the date of this press release. The Company
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statement to reflect any change in the
Company's expectations or any change in events, conditions or circumstances on
which any such statement is based.
SOURCE Startech Environmental Corp.
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CONTACT:
Robert L. DeRochie, VP of Investor Relations
of Startech, +1-203-762-2499
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