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News, Articles and Releases
Asconi Acquires State of the Art
Winemaking Equipment
Equipment to Substantially Increase
Premium Wine Production Capacity
WEDNESDAY, JANUARY 14, 2004 9:01 AM
ORLANDO, Florida, January 14, 2004 - /PRNewswire-FirstCall
via COMTEX/ -- Asconi Corporation (Amex: ACD), one of the largest
Eastern European producers of wines and spirits, today announced
that it has entered into contracts to purchase and install the latest
technology grape processing and winemaking equipment at its Puhoi
winery. The total cost of the project is approximately 1,157,000
Euro, which will be funded by cash flow from operations. As a result
of the renovation, the grape processing capacity at Puhoi will increase
to 90 tons per
hour and the simultaneous fermentation and aging equipment will
add 21,000 hectoliters.
"This acquisition will play an important role in substantially
increasing our production of premium and super premium wines,"
said Constantin Jitaru, President and CEO of Asconi Corporation.
"This equipment represents an important part of our Puhoi winery
renovation project, which will occur in time for the 2004 grape
harvest season. The installations represent the latest improvements
in winemaking technology and covers grape processing equipment,
including crushers, pumps and vacuum pressers, as well as fermentation,
filtration and storage facilities, including stainless fermentation
tanks, filters and cooling units."
Constantin Jitaru continued: "The most critical aspect of
the project is that upon its completion in June of 2004 the winery
will feature the most technologically advanced facilities not only
in Eastern Europe but also worldwide. For example, the vacuum pressers
are among the newest inventions in the winemaking equipment area,
which allows for optimum variable extraction of juice from the grapes.
All equipment is produced in Italy and will be installed and tested
by the supplier engineers."
About Asconi Corporation
Asconi Corporation (AMEX: ACD) is one of the largest producers
and distributors of wines and spirits in Eastern Europe. Asconi
currently markets its products in seventeen countries worldwide
and offers an extensive portfolio of over 350 items in fifty product
lines. The Company is involved in every aspect of wine and spirits
production and distribution, from grape processing to sales of alcoholic
beverages.
For more information, please visit www.asconi.com.
Contact: Mr. Serguei Melnik, Asconi Corporation Chief Operations
Officer
Phone: 407 679-9463
Email: info@asconi.com
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995: The
statements in the press release that relate to the company's expectations
with regard to the future impact on the company's results from new
products in development are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The results anticipated by any or all of these forward-looking statements
may not occur.
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