Integracer02 Post CSRwire.com -- Corporate Soci
Post# of 17862
Posted On: 04/02/2013 7:08:10 PM
Integracer02 Post
CSRwire.com -- Corporate Social Responsibility Newswire
www.csrwire.com, 13 June 2002 [cached]
www.csrwire.com, 13 June 2002 [cached]
No longer living, these woods are beautifully preserved in the fresh water," said Michael Lacy , manager of Investor Relations for British Columbia-based Aquatic Cellulose International Corporation (ticker:ACQI.OB).
"The ATH-120 represents a significant evolution in our technology," Mr. Lacy told SocialFunds.com ."We have upgraded the system software to enhance operating performance, expanded underwater reach capabilities to over 120 feet, and widened load capacity to enable harvest of timbers up to six feet in diameter.The ATH-120 will allow us to safely harvest virtually all of the more than 400,000 acres of timber inundated at Tucurui Reservoir [in Brazil]."In January, Aquatic Cellulose bought out ECOMAB , the joint venture the company created with the Brazilian company Sulpam Maderias to log the underwater rainforest at Tucurui Reservoir. "The acquisition gives ACQI 100 percent control of our timber leases at Tucurui Reservoir and all resulting revenue from sales," said Mr. Lacy ."Additionally, we have removed logistical barriers to substantially improve our efficiency and enhance our production capabilities. The ECOMAB project at Tucurui is roughly valued at $1 billion."In April 2001, Aquatic Cellulose entered into an exclusive supply agreement with Milwaukee-based Timber Holdings Ltd. (THL) for its total production of underwater harvested Ipe hardwood. THL placed orders totaling more than $1.5 million, a portion of which is for a boardwalk reconstruction project at Asbury Park in New Jersey.This decking installation is currently in the second of three phases, according to Mr. Lacy .ACQI's stock price has been steadily climbing this year, closing yesterday at $0.08 after opening in January at $0.01.The stock price reached its peak at $1.28 two years ago, in April 2000.While the environmental benefits of underwater forestry are evident, Aquatic Cellulose's operations offer significant social benefits as well.Besides protecting employee safety by harvesting the trees remotely, Aquatic Cellulose supports the local economy in Brazil through its Micro-Industry Program."Micro-Industry is a unique economic and social program designed to assist low-income families, maximize efficient use of indigenous forest resources, and significantly enhance our revenue," Mr. Lacy told SocialFunds.com .
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"The ATH-120 represents a significant evolution in our technology," Mr. Lacy told SocialFunds.com ."We have upgraded the system software to enhance operating performance, expanded underwater reach capabilities to over 120 feet, and widened load capacity to enable harvest of timbers up to six feet in diameter.The ATH-120 will allow us to safely harvest virtually all of the more than 400,000 acres of timber inundated at Tucurui Reservoir [in Brazil]."In January, Aquatic Cellulose bought out ECOMAB , the joint venture the company created with the Brazilian company Sulpam Maderias to log the underwater rainforest at Tucurui Reservoir. "The acquisition gives ACQI 100 percent control of our timber leases at Tucurui Reservoir and all resulting revenue from sales," said Mr. Lacy ."Additionally, we have removed logistical barriers to substantially improve our efficiency and enhance our production capabilities. The ECOMAB project at Tucurui is roughly valued at $1 billion."In April 2001, Aquatic Cellulose entered into an exclusive supply agreement with Milwaukee-based Timber Holdings Ltd. (THL) for its total production of underwater harvested Ipe hardwood. THL placed orders totaling more than $1.5 million, a portion of which is for a boardwalk reconstruction project at Asbury Park in New Jersey.This decking installation is currently in the second of three phases, according to Mr. Lacy .ACQI's stock price has been steadily climbing this year, closing yesterday at $0.08 after opening in January at $0.01.The stock price reached its peak at $1.28 two years ago, in April 2000.While the environmental benefits of underwater forestry are evident, Aquatic Cellulose's operations offer significant social benefits as well.Besides protecting employee safety by harvesting the trees remotely, Aquatic Cellulose supports the local economy in Brazil through its Micro-Industry Program."Micro-Industry is a unique economic and social program designed to assist low-income families, maximize efficient use of indigenous forest resources, and significantly enhance our revenue," Mr. Lacy told SocialFunds.com .
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