CalciTech Board Approves Project in Germany
LEUNA, Germany--(BUSINESS WIRE)-- CalciTech Ltd. (OTCBB: CLKTF) announces that the Board of Directors of CalciTech Synthetic Minerals Europe Ltd, ("CSME") after the completion of feasibility studies, has approved the go-ahead of it's project to construct the first commercial merchant plant for the production of Synthetic Calcium Carbonate ("SCC") at Agro-Chemie Park, Piesteritz in Lutherstadt-Wittenberg, Germany. The plant, when constructed, is designed to produce 50,000 tonnes of SCC per annum.
SKW Piesteritz, on whose site the plant is planned to be constructed, is the largest producer of ammonia in Germany and is actively developing business on the Agro-Chemie Park. In addition to providing suitable land to CSME, SKWP will also be providing utilities and site services and supply the CO2 required for this SCC plant.
Michael Watts, Managing Director of CSME stated "We are now able to plan the program of work and financing to complete matters to be able to build this plant and indicate product availability expectations."
About CalciTech Ltd:
CalciTech Ltd has developed and patented unique technology for the production of Synthetic Calcium Carbonate, "SCC" a specialty material that may be widely used in industrialized parts of the world and is developing operating licensees in these territories, the first being in Europe. With its technological capabilities, CalciTech will continue to develop the product potential into other areas.
About CalciTech Synthetic Minerals Europe Ltd:
The Company, recently established in England, has been granted an exclusive license for Europe to execute on the business plan to develop the use of SCC specialty products within the high end valued segments of paper, paint, polymer and related areas, food and pharma applications. CSME, independently managed, is seeking funding through the London market for investment in Europe.
About SKW Stickstoffwerke Piesteritz GmbH:
SKWP is the largest ammonia and urea producer in Germany and is located at the 220 hectare Agro-Chemical Park Piesteritz being unique in Germany. About 800 employees at sites in Piesteritz and Cunnersdorf produce a broad range of industrial chemical and agrochemical products, around four million tons of products every year. The company is also one of the most innovative fertilizer producers in Europe. The modern products for plant nutrition are developed in the company's own research and development centre. In Cunnersdorf near Leipzig, everything that is connected with the concrete use of the innovativefertilizer products is tested, examined and investigated on over 170 hectares. SKWP is part of the Agrofert Group owned by Andrej Babiš.
The directors of the company take responsibility for this announcement.
This press release contains "forward looking statements" including forward looking statements as that term is defined in section 27a of the United States Securities Act of 1933 and section 21e of the Securities and Exchange Act of 1934. Statements in this press release, which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements which are subject to a number of contingencies and uncertainties, including, but not limited to, market acceptance for CalciTech's products, manufacturing of CalciTech's products in a commercial setting, obtaining adequate financing and construction management for production and obtaining appropriate permits.
It is important to note that the corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the company's public filings with the Securities and Exchange Commission.
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KEYWORDS: Europe Germany
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