MOSCOW, Dec. 14, 2006 (PRIME NEWSWIRE) -- NUCON-RF, Inc. (Pink Sheets:NNRF) today announced it had formed a wholly-owned Russia-based subsidiary, OOO NUCON-RUS, a company focused on the marketing, sales and installation of power quality protection equipment inside the Russian Federation, other CIS countries and Europe.
The new company plans to apply for listing on RTS, the Russian Stock Exchange, by March 2007.
Currently, no foreign companies are permitted to have such a listing.
NUCON-RF further announced that OOO NUCON-RUS has signed a five-year strategic partnership agreement with a Republic of Tatarstan-based marketing and sales partner, Stroikomplektinvest, Ltd. The agreement defines terms of commission, arrangements for installations and financings and other essential items relating to marketing and sales of the equipment.
This equipment, manufactured by Nevada-based Environmental Potentials (EP), eliminates the power surges and high frequency noise adversely affecting industrial, commercial and residential facilities, thereby preventing serious damage to sensitive digital equipment housed in these facilities.
Additionally, pursuant to a September 15 mandate from the Republic of Tatarstan Ministry of Construction Architecture authorizing NUCON-RF to install this equipment in select newly constructed buildings across the Republic, OOO NUCON-RUS will Beta-test the EP units for Tatarstan's largest operator of inner electric grid services, Zhilenergoservice, JSC. Subsequent to these tests, The Ministry will have the option of authorizing further installation of these units in main gate electric panels in The Department of Communication, The Ministry of Health and in existing private residences and apartment buildings in cities across Tatarstan.
OOO NUCON-RUS is also finalizing strategic partnerships for the marketing of EP units in other regions in Russia, including Krasnoyarsk, Novosibirsk and Krasnodar.
The new subsidiary is projected to generate sales in excess of $10 million in 2007.
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.