Cetek, here is some news on AMR Tech this baby is up 100% from the end of january
Nash
08:41 EST Monday, Feb 09, 2004
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Ten year exclusive agreement to supply Nano Cerium Oxide
TORONTO, Feb. 9 /CNW/ - AMR Technologies Inc. ("AMR") (TSX:AMR) announced today that it has developed a novel form of nanosized Cerium oxide material which has significant implications for use in a major global consumer product. If this product succeeds in the marketplace, AMR estimates that sales of its materials would result in revenues to AMR of approximately US$25m per annum for every 1% worldwide market share penetration by the product. It is still uncertain when the consumer product might be introduced to the market because it continues to be under development and subject to further evaluation by the customer.
AMR has been developing its nanotechnology platform for over five years under the direction of Dr. James L. Woodhead at AMR's Nanotechnology Centre in Abingdon, UK. AMR has applied its technology to meet the performance specifications and requirements stipulated by a customer which holds a major market share in the above-mentioned consumer product. AMR and this customer have entered into a 10-year exclusive agreement to supply nanosized cerium oxide and other related materials required in the production of this consumer product following its commercialization.
AMR's customer holds an extensive portfolio of patents and patent applications on this consumer product. A confidentiality agreement in place between AMR and its customer prevents the Company from disclosing the name of its customer and the nature of the application.
Peter Gundy, AMR's Chairman and CEO stated, "This supply agreement is an example of the significant long term growth potential of our nanotechnology initiative. It clearly demonstrates our capabilities in developing and commercializing nanotechnology products and applications."
About AMR
Founded in 1993, AMR produces, processes and develops rare earth and zirconium based engineered materials and applications that are essential in many of today's high technology products. These include computers, TVs, VCRs, cell phones and CD players. AMR separates and purifies rare earth materials at two plants in China and sells to multinationals in Europe, North America, Korea and Japan. AMR manufactures at its plants in Thailand, rare earth bonded magnetic powder for the electronics and automotive markets. Headquartered in Toronto, AMR has approximately 1,000 employees throughout its international operations.
Forward Looking Statements
From time to time, the Company may publish forward-looking statements relating to such matters as expected financial performance, business prospects, technological developments, and development activities and like matters. These statements involve risk and uncertainties, including but not limited to the risk factors previously described. Actual results could differ materially from those projected as a result of these risks and should not be relied upon as a prediction of future events. AMR Technologies undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events. There can be no assurance that the above mentioned consumer product will be successfully commercialized and accepted by the marketplace.
/For further information: Geoff Bedford, Chief Financial Officer, (416) 367-8588, ext. 338, website: www.amr-ltd.com, e-mail: amrinfo(at)amr-ltd.com; Ali Mahdavi, Genoa Management, (416) 962-3300, ext. 225, e-mail: amahdavi(at)genoa.ca; To request a free copy of this organization's annual report, please go to http://www.newswire.ca and click on reports(at)cnw./