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) October 16, 2000
BICO, 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.)
2275 Swallow Hill Road, Bldg. 2500, Pittsburgh, Pennsylvania 15220
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 429-0673
_________________________________________________________
(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.
BICO, Inc. subsidiary Petrol Rem, Inc., announced
today that, following completion of due diligence
by outside firms for both parties, Petrol Rem and
INTCO, Inc. have signed a Memorandum of
Understanding stating the conditions under which
Petrol Rem will purchase controlling interest of
INTCO, a 19 year old petroleum treatment and oil
spill remediation company with an approximate
revenue projection of $1.4 million for 2000 and
established clients including Texaco, Inc., Unocal
Corporation, Apache Corporation, and many other
local oil producers in Southeast Louisiana.
Finalization of the acquisition and utilization of
Petrol Rem's oil spill bioremediation product by
INTCO is anticipated by November 30th.
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.
BICO, INC.
by /s/ Fred E. Cooper
Fred E. Cooper, CEO
DATED: October 16, 2000
BICO SUBSIDIARY PETROL REM TO PURCHASE 51% OF INTCO, INC. IN
PLANNED ACQUISITION OF ENVIRONMENTAL SOLUTION COMPANIES
Pittsburgh, PA - October 16, 2000 - BICO, Inc.
(OTCBB:BIKO) subsidiary Petrol Rem, Inc., announced today
that, following completion of due diligence by outside firms
for both parties, Petrol Rem and INTCO, Inc. have signed a
Memorandum of Understanding stating the conditions under
which Petrol Rem will purchase controlling interest of
INTCO, a 19-year old petroleum treatment and oil spill
remediation company with an approximate revenue projection
of $1.4 million for 2000 and established clients including
Texaco, Inc., Unocal Corporation, Apache Corporation, and
many other local oil producers in Southeast Louisiana.
Finalization of the acquisition and utilization of Petrol
Rem's oil spill bioremediation product by INTCO is
anticipated by November 30th.
This purchase will begin the implementation of Petrol
Rem's plan to expand its operating base through acquisition
of controlling interest in or outright purchase of companies
with existing revenue that provide environmental solutions.
Discussions with other such companies are in various stages.
Mr. T. Eddie Lofton, who has over 30 years experience
in petroleum treatment and oil spill cleanup, will remain as
President of INTCO, which is located in Houma, Louisiana.
Petrol Rem produces a series of oil spill absorption
and bioremediation products. The base product, PRPr, which
is listed on the Environmental Protection Agency's NCP
Product Schedule, is sprayed as a loose powder on open water
spills and bonds immediately with the oil preventing the
pollution from sinking or further contaminating wildlife and
vegetation. PRP is also contained in fabric of 9.5 inches
and custom-designed lengths to 10 feet and marketed as
BIOSOKr and BIOBOOMr, respectively. BIOSOK is used in boat
bilges while BIOBOOM is used to solve a variety of
hydrocarbon spill problems, such as nonpoint source
discharge of hydrocarbons into local waterways, which must
be controlled by municipalities. All products absorb and
biodegrade the hydrocarbon contaminant, then biodegrade
themselves.
BICO, Inc. has its corporate offices in Pittsburgh, PA
and is involved in the development and manufacture of
biomedical devices and environmental solutions. Subsidiary
Petrol Rem, Inc., with corporate headquarters and
manufacturing facilities also in Pittsburgh, focuses on
solutions for environmental problems.
FOR FURTHER INFORMATION, CONTACT:
Investors Media
Diane McQuaide Susan Taylor
1.412.429.0673 phone 1.412.429.0673 phone
1.412.279.9690 fax 1.412.279.5041 fax
INVESTOR RELATIONS NEWSLINE NUMBER: 1.800.357.6204WEBSITE:www.bico.com
