Cyclics Corporation Partners with Davy Process Technology

16 September 2002

Cyclics Corporation has partnered with Davy Process Technology to design and build Cyclics' first commercial production facilities to be located in Germany. Davy Process Technology is working both on the design of the facility as well as assisting in managing the overall project.

Cyclics and Davy are working on building a facility with a capacity of several million pounds. Cyclics has already developed the basics of the process and Davy is assisting with design and performing the basic engineering. Taking advantage of Davy’s involvement in building chemical plants around the world, Cyclics has hired Davy to assist in managing the construction of the plant. Cyclics and Davy are also planning the construction of a larger facility to follow the completion of the first commercial plant.

""We are impressed with the depth of engineering expertise that Davy brings to the table,"" said John Ciovacco, Chief Executive Officer, Cyclics Corporation. ""Partnering with Davy allows Cyclics to essentially grow our production team quickly and with high quality professionals whose track record in building chemical plants is impressive. We believe this partnership will accelerate our efforts to build production capacity while allowing us to feel comfortable that our plans will succeed. ""

""We are excited about working with the Cyclics team."" said David Tomlinson, President of Davy Process Technology. ""As a technology company we thrive on the challenge of commercialising leading edge technologies. We are intrigued with the CBT product and process, and have confidence that we can assist Cyclics to reach efficient economies of scale.""

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