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 31, 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 it has acquired the majority interest
in INTCO, Inc., a 19-year old petroleum treatment
and oil spill remediation company with $1.1
million in revenue as of October 1, 2000, an
approximate $1.4 million total revenue projection
for 2000, and established clients including
Texaco, Inc., Unocal, Corporation, Apache
Corporation, and many other local oil producers in
Southeast Louisiana.
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 31, 2000
BICO SUBSIDIARY PETROL REM FINALIZES ACQUISITION OF INTCO
Pittsburgh, PA - October 31, 2000 - BICO, Inc.
(OTCBB:BIKO) subsidiary Petrol Rem, Inc., announced today
that it has acquired the majority interest in INTCO, Inc., a
19-year old petroleum treatment and oil spill remediation
company with $1.1 million in revenue as of October 1, 2000,
an approximate $1.4 million total revenue projection for
2000, and established clients including Texaco, Inc.,
Unocal, Corporation, Apache Corporation, and many other
local oil producers in Southeast Louisiana.
This acquisition is part of BICO's overall plan to put
revenue-producing companies into its subsidiaries there by
providing a ready revenue stream to the subsidiary as well
as the parent. BICO, which is currently in a strong
financial position, having in excess of $10 million cash,
recently closed its public offering, which specified that
part of the funds would be used for acquisitions.
INTCO is located in the city of Houma in Southeast
Louisiana on the Gulf of Mexico where 18% of all oil spills
in the United States occur. 40% of these Gulf of Mexico
spills occur on the Gulf coast of Southeast Louisiana.
Use of Petrol Rem's oil spill bioremediation product by
INTCO is anticipated to begin sometime in November.
Of the acquisition by Petrol Rem, T. Eddie Lofton,
president of INTCO, said, "INTCO is very happy to now be a
part of Petrol Rem, a real leader in oil spill remediation.
We have been looking for sometime for a product such as
Petrol Rem's PRPr, which can quickly contain a spill and
then bioremediate first the hydrocarbons and then itself
without harming any wildlife or vegetation. The combination
of INTCO's capabilities and Petrol Rem's products will, I
believe, make for a formidable force in the oil spill
cleanup industry in the Gulf of Mexico and on the Gulf
coast. In anticipation of the market depth for this
alternative technology, INTCO has already begun to receive
10,000 pounds of PRP at our warehouse, and we believe that
as much as 750,000 pounds may be required per year."
Petrol Rem produces a series of oil spill absorption
and bioremediation products that absorb and biodegrade the
hydrocarbon contaminant, then biodegrade themselves. 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.
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: 1.800.357.6204
WEBSITE: www.bico.com
