MOSCOW, April 30, 2007 (PRIME NEWSWIRE) -- NUCON-RF, Inc. (Pink Sheets:NNRF) today announced the following update to its stockholders and the investment community as provided by its Chairman, Lawrence C. McQuade:
Last week there were false and misleading Internet postings relating to the operations of NUCON-RF, Inc. that are harmful to the interests of our stockholders. Contrary to these statements, we continue to make great progress in the implementation of our strategic plan. In addition, we have added to our core capabilities through an acquisition of nuclear reactor related manufacturing facilities, project tender awards, technology acquisitions, significant additions to our senior management team and participation in international nuclear weapons decommissioning and disposal projects.
To set the record straight and illustrate the core capabilities of the Company, we wish to review our current status:
Our Strengths
We believe that the following competitive strengths allow us to capitalize on growth opportunities in the nuclear services industry:
Solutions Offerings. NUCON-RF and its associated companies have established the nucleus of a comprehensive portfolio of specialized, technology-based nuclear services in the Russian Federation, CIS and European Union. Our range of services, extensive experience and proven senior management credentials position us to pursue a wide range of nuclear services contracts. This combination allows us to respond to specific, technical customer needs in an industry that requires customized solutions. In addition, we believe our strategic partnerships with the Russian Federal Ministry of Nuclear Energy - decommissioning department, and such Russian companies as ROSATOM, ATOMSTROYEXPOERT and ICES now position us to pursue large nuclear services contracts, including our participation in multi-billion dollar multilateral radioactive waste clean up projects. In the European Union, we anticipate entering the market through one of the world's leading energy companies.
Vertically Integrated Services. Our capabilities are derived from the three specialized divisions of the Company: Manufacturing, Decommissioning and Disposal, and Technologies. This enables us to provide comprehensive customer solutions that effectively change the nuclear services paradigm. Our design, engineering, technology and manufacturing divisions and contemplated acquisitions have established these capabilities. Access through our strategic alliances to key processing and disposal facilities in the Russian Federation also enables us to complete a broad range of projects efficiently and cost-effectively. We believe that this access provides vertically integrated services that distinguish us from competitors that must coordinate their efforts with multiple third-party contractors to offer a comparable range of services.
Long-Term Relationships with Attractive Customer Base. We offer specialized manufacturing, engineering and technology-based nuclear services to a broad range of customers, including Russian and foreign government agencies, commercial power and utility companies, research laboratories, universities and other commercial entities with nuclear-related products or operations. We generate the majority of our revenues and cash flow from customers with whom we have established long-term contracts. For example, ZAO ATOLL, which contracts with the state-owned nuclear power company, ROSATOM, typically can cover the operating life of a nuclear reactor through its decommissioning, which can be longer than 30 years. In addition, our government contracts are generally multi-year with potential extensions.
Technologies and Operating Expertise. We have a substantial portfolio of nuclear processing technology and know-how, supported by patents that we own or license. This enables us to participate in a wide range of projects involving materials with varying levels of radioactivity. For example, we employ proprietary technologies for processing radioactive waste which are currently in demand and are an important factor in procuring prime government and multilateral contracts. As an existing member of a prime contract team, we are participating in projects at nuclear, radiological and industrial facilities at former nuclear fuel disposal and refueling sites in Russia including Andreveva Bay, Saida Bay, Gremihka Bay, the specialized Federal technical boat Lepse, and the dry storage facility under construction at Zelesnogorsk for spent nuclear fuel.
Significant Management Capabilities. Our senior management team and employee base have extensive industry experience. The global nuclear services industry currently faces a shortage of highly-trained professionals. We believe our human capital, together with the unprecedented access to our strategic partners' engineering capabilities, are a core competitive advantage and enable us to deliver comprehensive solutions offerings. Our senior management team has several decades of nuclear-related project management experience on large customized projects, as required by government and commercial customers.
The dawn of a new nuclear power age will be a boon for suppliers of nuclear reactors and related equipment and services. Making that a growing possibility are global warming concerns and a worldwide appetite for electricity. We encourage you to visit our web site, www.nucon-rf.com and to make inquiries on any questions you have about our current and future operations.
ABOUT NUCON-RF:
NUCON-RF, a U.S. corporation with executive and operations offices in Washington, Berlin and Moscow, provides products, technologies and engineering/design services for a range of environmental challenges. The Company owns manufacturing facilities and provides both equipment and services for nuclear waste solutions, as well as compliance, shielding, transport and storage requirements for nuclear power plants. NUCON-RF also owns and licenses proprietary leading edge technologies which augment the Company's market edge in manufacturing, design, engineering and services capabilities. The Company has a highly experienced, proven and high profile management team whose capabilities include extensive in-house expertise in all aspects of radiological protection and radiological waste management. NUCON-RF is currently involved in providing nuclear power plant equipment in Russia and China and intends to expand to India, European Union and North American markets in 2007-08. Current projects for 2007-2010 include multiple international nuclear waste remediation projects in northwestern Russia that are multilaterally funded by G-8 member countries for the decommissioning and disposal of nuclear powered naval vessels of the former Soviet Union. The Company is currently engaged in the due diligence phase of potential further acquisitions in 2007-2008 which are intended to substantially increase its asset and revenue base.
SAFE HARBOR STATEMENT statements in this press release that are not historical facts are forward-looking statements, including statements regarding announcements of financial results, business potentiality and other prospective presentations by NUCON-RF, Inc. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products in domestic and international markets will continue to expand. NUCON-RF undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in NUCON-RF's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.