Date: December 27, 2001
Source: News Room
Startech Environmental Corp. (Nasdaq: STHK), a leader in plasma waste remediation and recycling technology, and ViTech Enterprises, Inc., a private North Carolina corporation, have signed a definitive agreement to pursue a joint development project to commercialize a ten ton per day Plasma Converter-based remediation site to process and irreversibly destroy pharmaceutical products. The new site will be located in Chesterfield, South Carolina. The collaboration brings together Startech's proprietary material processing technology and engineering support with ViTech's management experience in the processing and disposal of certain pharmaceutical products. Startech will own 25% of Vitech and will have representation on the Board of Directors. In return, ViTech will receive a price reduction on the first Plasma Converter purchased, engineering and support services, and exclusive processing rights for selected pharmaceutical applications. More information: www.startech.net.
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