MOSCOW, Feb. 15, 2007 (PRIME NEWSWIRE) -- NUCON-RF, Inc. (Pink Sheets:NNRF) today announced that its wholly owned subsidiary, OOO Nucon-Rus, has commenced installation of power quality protection units in various locations within the Russian Federation and other CIS countries.
The units, earmarked for deployment in Russian facilities in Moscow, St. Petersburg and Novosibirsk as well as in facilities in the CIS countries of Kazakhstan and Azerbaijan, are expected to produce revenue to NUCON of $8 million in 2007.
In a related development, NUCON announced that, due to increased demand for its power quality protection equipment in Sun City, a new government office/employee complex in the Republic of Tatarstan, the company is raising its original revenue projection of $50 to $100 million to a total of up to $200 million over the next five years. Pre-tax income from the Sun City project is now projected at up to $80 million for this period.
For 2007, the Sun City project is expected to provide company revenue of up to $20 million, with pre-tax income of up to $8 million.
NUCON also projects that additional power quality equipment projects within Tatarstan may provide further company revenue of up to $50 million over the next five years.
NUCON's power quality protection units, which are manufactured by Nevada-based Environmental Potentials, suppress power surges and filter out high frequency noise over electrical lines. These are common problems afflicting Russia's power grid, resulting in widespread damage to electrical and computer equipment, increased operating costs and decreased productivity.
NUCON-RF, a U.S. corporation with executive and operations offices in Moscow and Berlin, provides product, technological and engineering solutions for a wide range of environmental, wastewater, power quality and radioactive waste challenges. These solutions address compliance, shielding, transport and storage requirements, plant equipment protection, energy efficiency and remediation techniques for diverse radioactive and toxic wastes. The company possesses extensive in-house expertise in all aspects of radiological protection and radiological waste management.
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.