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Article: HIGHTEC ANNOUNCES DETAILS OF LAS VEGAS BASALT FIBER COMPOSITE REBAR PLANS.
- Article from:
- Advanced Materials & Composites News
- Article date:
- February 18, 2002
CopyrightCOPYRIGHT 2002 Composites Worldwide, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Hightec, Inc. (Pink Sheets:HTEH) in Las Vegas, Nevada says that it's wholly owned subsidiary, Basalt Fiber Industries, Inc. has been formed to commercialize the development of numerous basalt fiber reinforced products in America.
Basalt Fiber Industries, Inc. will serve as a sister subsidiary to U.S. Cement Company that is also wholly owned by Hightec, Inc. Forty percent of the subsidiary will be sold to strategic partners to finance the new venture. $5 million in equity financing and 15 million in debt financing will be finalized during the next month.
Company President, Larry Stockett, stated that announcements of new management team members are ...