MOSCOW, April 25, 2007 (PRIME NEWSWIRE) -- NUCON-RF, Inc. (Pink Sheets:NNRF) today announced that it has been advised by the independent auditors of ZAO ELECTRO MACHINERY BUILDING PLANT ATOLL (ATOLL) that confirmed production contracts for 2007 total approximately US$183 million. The foregoing represents an increase of 52.5% over previously announced 2007 revenue projections for ATOLL of US$120 million. NUCON-RF owns 50% of ATOLL.
In addition, the independent auditors of ATOLL have confirmed that the value of contracts completed, as well as in progress, by ATOLL during the three months ended March 31, 2007 was approximately US$20,250,000.
The primary purchaser of ATOLL products is Rosenergoatom, the operator and owner of Russia's 31 nuclear reactors, with which NUCON-RF is contracted to provide technologies, services and equipment. ATOLL is one of the most advanced facilities of its type in Russia, employing 220 nuclear industry engineers and specialists, and utilizing state-of-the-art computer numerically controlled, or CNC, machinery. In addition to spare parts and mechanisms for nuclear power plants, the ATOLL facility is to commence the manufacture of handling equipment for long-term storage containers of radioactive wastes and spent fuel. It is anticipated that this equipment will be marketed in China, India and other markets in Eastern Europe.
ABOUT NUCON-RF:
NUCON-RF, a U.S. corporation with executive and operations offices in Washington, Berlin and Moscow, and 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.