SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
___________________
Date of Report (Date of earliest event reported) March 26, 1997
BIOCONTROL TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania 0-10822 25-1229323
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
300 Indian Springs Road, Indiana, Pennsylvania 15701
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 349-1811
_________________________________________________________________
(Former name or former address,
if changes since last report.)
Item 1. Change in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
Item 5. Other Events.
On March 26, 1997, Biocontrol Technology, Inc.
(NASDAQ:BICO) announced that it has entered into an Agreement
with American Superpower Group, Inc. (ASG) of Great Neck, New
York, USA to form a joint venture between the two companies for
the purpose of sales and distribution of Biocontrol's products in
the Peoples Republic of China, Taiwan and Hong Kong.
Item 6. Resignation of Registrant's Directors.
Not Applicable
Item 7. Financial Statement, Pro Forma Financial Information
and Exhibits.
(a) Financial Statements and Businesses Acquired - Not
Applicable.
(b) Pro Forma Financial Information - Not Applicable.
(c) Exhibits-Press Release
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act
of 1934, the Registrant has duly caused this Report to be signed
on its behalf by the undersigned hereunto duly authorized.
BIOCONTROL TECHNOLOGY, INC.
by /s/ Fred E. Cooper
Fred E. Cooper, CEO
DATED: March 26, 1997
- -----------------------------------------------------------------------------
BICO
BIOCONTROL TECHNOLOGY, INC
2275 Swallow Hill Road, Building 2500
Pittsburgh, PA 15220
Press Release
Release: Immediate
For More Information, Call:
Investors Media
Diane McQuaide Susan Taylor
Alan Wexler
Biocontrol Technology Biocontrol Technology American
Superpower
1.412.429.0673 phone 1.412.279.9455 phone 1.516.829.1688
phone
1.412.279.9690 fax 1.412.279.9447 fax 1.516.829.1689 fax
BIOCONTROL TO FORM JOINT VENTURE
Pittsburgh, PA - March 26, 1997 - Biocontrol Technology,
Inc. (Nasdaq:BICO) announced today that it has entered into an
Agreement with American Superpower Group, Inc. (ASG) of Great
Neck, New York, USA to form a joint venture between the two
companies for the purpose of sales and distribution of
Biocontrol's products in the People's Republic of China, Taiwan
and Hong Kong.
The Agreement, which was signed on March 25, 1997, calls for
the new joint venture company to be owned seventy-five percent
(75%) by ASG and twenty-five (25%) by Biocontrol.
The Agreement further calls for BICO and/or its subsidiaries
to sell its products to the joint venture company at a profit.
The products will in turn be sold in China, Taiwan, and Hong
Kong.
Originally founded in 1939 in the Far East for construction,
shipbuilding, oil drilling, and general business investment, ASG
was chartered in New York State in 1978 to pursue a broad range
of joint projects.
American Superpower Group is headed by Chairman and Chief
Executive Officer K. C. Abraham Chow and President Yween Ling
Chow.
Mr. Chow, who was born in Shanghai, is now a United States
citizen who has lived and worked in the United States for many
years. He is a graduate of St. John's University in Shanghai,
trained in architecture and mechanical engineering. With over 40
years of US and overseas business experience, Mr. Chow has
developed strong relationships with Chinese government officials
and industry leaders and is committed to developing the potential
for foreign access to the China market.
President Yween Ling Chow is a business graduate of the
University of California and has been extensively involved in
Asian/American business for the last 15 years.
ASG has majority ownership in nine (9) other Chinese joint
ventures, all of which are headed by Mr. Chow. Major ventures
include Shanghai Offshore Petroleum Engineering Corporation
(SOPEC). The partners in SOPEC are Bank of China, Shanghai
Shipbuilding Corporation, Shanghai Investment and Trust
Corporation and First Bureau of Mechanical & Electrical
Corporation. Additional joint ventures are Benxi Baoxi Cold
Rolling Factory with partner Benxi Iron and Steel Works; Benxi
Xida Tinplate Co.; Anhui Baoqing Electrolytic Tinplate Co. Ltd.;
Zhuozhuo Amaee Tinplate Co., Ltd.; American Hightech University;
Dalian Superpower Distilled Water Factory; and Benxi Economic,
Hightech Zone (for urban development).
Of the Agreement between ASG and Biocontrol, Mr. Alan
Wexler, vice president of American Superpower, said, "A healthy
relationship between two great companies and two great countries
will yield significant profits for both companies."
Biocontrol Chief Executive Officer, Fred E. Cooper, said
"This joint venture gives our shareholders an exciting
opportunity to share in the vast and growing Chinese business
market. American Superpower's long-standing presence and
excellent reputation in that market will certainly pave the way
for BICO to take into China its innovative medical and
environmental products, which include the Diasensorr 1000
noninvasive glucose sensor, BioLogic-HT Systemr for hyperthermia
treatment in AIDS and cancer, and PRPr and BIO-SOKr oil spill
response products."
Biocontrol Technology, Inc. has its corporate offices in
Pittsburgh, Pennsylvania USA and is involved in the development
and manufacture of biomedical devices and environmental products.
