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 5, 1998
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 5, 1998 Biocontrol Technology, Inc.
(NASDAQ:BICO) announced that it has acquired the controlling
interest in International Chemical Technologies, Inc. (ICTI),
a Florida company with a patented metal coating technology that
is an alternative for hard chrome and electroless nickel.
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
CEO
DATED: March 5, 1998
BICO
BIOCONTROL TECHNOLOGY, INC
2275 Swallow Hill Road, Building 2500
Pittsburgh, PA 15220
Press Release
For More Information, Call:
Investors Media
Diane McQuaide Susan Taylor
1.412.429.0673 phone 1.412.279.9455 phone
1.412.279.9690 fax 1.412.279.9447 fax
BIOCONTROL ACQUIRES METAL COATING COMPANY WITH 1998
POTENTIAL REVENUE OF $50,000,000
Pittsburgh, PA - March 5, 1998 - Biocontrol Technology, Inc.
(Nasdaq:BICO) announced today that it has acquired the
controlling interest in International Chemical Technologies, Inc.
(ICTI), a Florida company with a patented revolutionary new metal
coating technology that is an alternative for hard chrome and
electroless nickel. Details of the acquisition are limited at
this time, but did involve a minimum down payment with the
balance payable over a three-year period. In 1998, ICTI's
potential revenues from the $48 billion metal finishing industry
could be as high as $50,000,000 with sizable profit margins.
Incorporated to produce and market cemkoter coating, ICTI,
located in Palm City, FL, has a 10,000 sq. ft. state-of-the-art
plating facility capable of annual chemistry sales of $50,000,000
and plating sales in excess of $20,000,000. In addition to
production, this facility will be used as a demonstration and
training facility for additional plants and potential licensees
of the coating technology. In business since August of 1997,
ICTI has invoiced, tested for, or is in negotiations with
companies such as Ford Motor; General Motors; Allied Signal
Braking Systems; Pratt Whitney Aircraft; USA Today, New York
Times, Los Angeles Times, and The San Francisco Chronicle.
"Because those who have already used and tested it claim
that in the very near future cemkote will capture the majority of
the vast metal alloy coating business," said Biocontrol Chief
Executive Officer Fred E. Cooper, "Biocontrol expects ICTI and
cemkote to generate immediate revenue and be the major profit
center of the company. ICTI is already in serious licensing
contract negotiations with several large coating users."
The metal coating, marketed as cemkoter, is an alternative
for the approximately ten million metric tons of chromium now
used annually worldwide for plating because cemkote and its
application technology deliver a significantly harder and more
abrasive resistant coating without the water and airborne toxic
emissions of chromium plating. These emissions are so much a
concern that the Metal Finishing Subcommittee of the
Environmental Protection Agency's Common Sense Initiative is
conducting significant research on chromium replacement products
and improved plating technologies to reduce the toxic wastes.
Produced in a very stable bath with a closed loop system
that produces no water discharge and clean exhaust air, cemkote
is cost-efficient and environmentally friendly coating that can
be applied to most alloys, including all steels, titanium and
aluminum.
Cemkote is a uniform, nickel boride coating that provides
extreme hardness, corrosion resistance, ductility and low
friction. The coating is harder than tungsten carbide coatings,
hard chrome and electroless nickel; passes ASTM B117 accelerated
and salt spray tests of two hundred (200) hours; and has a lower
coefficient of friction than electroless nickel, tungsten
carbide, and hard chrome.
According to the 1996-1997 Market Survey of the Surface
Finishing Market Research Board, the metal finishing industry
involves about 10,000 companies generating an annual $48 billion
in revenue and contributing about $40 billion to the US gross
domestic product. At this time, ICTI plans are to license to
these metal finishers the use of the cemkote coating solution;
both the solution and the closed loop production system; or an
entire plant for exclusive use of cemkote. Because only industry
standard equipment is needed, converting to the use of cemkote by
plating facilities currently using chromium or electroless nickel
can be accomplished quickly within 2 - 3 months.
ICTI also plans to seek joint ventures, develop cemkote-
coated product lines, and coat products from other companies in
its own facilities. Literally hundreds of thousands of uses for
cemkote exist in all domestic and international major industries
such as aerospace; petroleum; agriculture; military; tools;
mining; textile; printing; automotive; high performance
equipment, etc.
Biocontrol Technology, Inc. has its corporate offices in
Pittsburgh, PA and is involved in the development and manufacture
of biomedical devices and environmental products.
