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RANSOHOFF REACHES AGREEMENT TO ACQUIRE EXCLUSIVE LICENSING
RIGHTS TO BOWDEN INDUSTRIES PRODUCT LINE
Cincinnati, June 25, 2003 - The Cleaning Technologies
Group, Inc. (CTG) today announced that its Ransohoff business
unit has reached an agreement in principal with Bowden Industries
Inc. of Huntsville, Alabama, to acquire the exclusive rights
to design, manufacture, sell and support the full line of
Bowden cleaning equipment.
Bowden Industries, founded in 1984, is a recognized technology
leader in the supply of high throughput, automated cleaning
systems for automotive drivetrain components and other general
industrial applications. Bowden currently touts 6 distinct
patents relating to industrial cleaning system processes and
has enjoyed a long history in delivering innovative solutions
to complex parts cleaning applications within the industrial
marketplace.
According to Stephen Temple, President of the Cleaning Technologies
Group, "The acquisition of this technology license is
an ideal fit with our overall group strategy in that it improves
our position within the high volume precision cleaning systems
market sector while further strengthening our ability to provide
our customers with the broadest range of advanced technology
cleaning systems in the industry today. Bowden has an excellent
history of innovation and customer satisfaction, enjoying
a unique technology position that, when coupled with the sales,
marketing and manufacturing expertise of our Ransohoff operation,
will be sure to provide us with a very formidable competitive
advantage in this marketplace."
According to Donald Bowden, President and Founder of Bowden
Industries Inc, "Integrating our patented technologies
and our proven 6 sigma results into the Ransohoff operation
improves both our Companies abilities to better satisfy our
customer's needs. Together we will be able to expose Bowden's
innovative technology to the global marketplace in new and
exciting ways. We strongly support the strategy CTG is pursuing
within the world market for advanced technology cleaning systems,
and I personally look forward to the challenge of playing
a significant role in making this venture a great success
for all involved." Mr. Bowden further stated that it
is his intention to facilitate an orderly shutdown of the
manufacturing operations in Alabama in order to optimize production
costs by consolidating manufacturing with Ransohoff in Cincinnati.
Ransohoff will employ Donald Bowden in the role of Director
of Advanced Engineering with Dale Bowden assuming the position
of Product Manager at Ransohoff. Other employee transfers
are yet to be determined. Both parties stated that they anticipate
a formal license agreement to be executed within the next
30 days.
The Cleaning Technologies Group is a world leader in providing
innovative technologies to the precision and industrial manufacturing
markets. CTG is comprised of Ransohoff Inc. and Environmental
Systems Group, Inc. of Cincinnati, Ohio, Blackstone~Ney Ultrasonics
Inc. of Jamestown, New York, and Ransohoff, LTD. of Bradford,
England. CTG is the premier provider of environmentally friendly
parts-cleaning and waste-minimization equipment and services
to the global marketplace.
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The Cleaning Technologies Group Inc.:
4933 Provident Drive
Cincinnati, OH 45246
kschapker@ransohoff.com
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Ken Schapker Phone:
(513) 870-1711
Toll Free: (800) 248-9274
Fax: (513)-870-0105
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