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UNITED STATES
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 (Dates of Earliest event reported) October 2, 1997
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EPL Technologies, Inc.
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Colorado 0 - 28444 84-0990658
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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2 International Plaza, Suite 245, Philadelphia, PA 19113
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (610) 521-4400
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Not Applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
Effective October 2, 1997, Integrated Produce Systems, Inc.,
("Integrated"), a U.S. subsidiary of EPL Technologies, Inc. ("EPL") announced
the execution a three year license agreement with Farmington Fresh, the largest
grower and shipper of Fuji apples in California.
Under this agreement, which may be extended beyond its initial term,
Farmington will produce fresh-cut apple slices, utilizing EPL's "Apple
Fresh(TM)" processing aid technologies and related protocols, as well as EPL's
scientific support and packaging technologies. The new sliced apple product
will be processed at Farmington's newly-built processing plant in California.
The agreement grants Farmington Fresh production exclusivity in their local
geographic market. In addition to revenue generated from the various
technologies, EPL will also receive a royalty based on the sales revenue of
fresh cut apple products by Farmington Fresh.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
a) Not Applicable
b) Not Applicable
c) Exhibits
99.1 Press Release dated October 2, 1997 in
relation to the license agreement between
Integrated Produce Systems, Inc. and
Farmington Fresh.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated : October 3, 1997 EPL Technologies, Inc.
By: /s/Paul L. Devine
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Paul L. Devine
Chairman and President
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Exhibit 99.1
Press Release dated October 2, 1997 in relation to the license agreement
between Integrated Produce Systems, Inc. and Farmington Fresh.
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[EPL LETTERHEAD]
CONTACT:
Paul Devine John P. Kehoe
Chairman Kehoe, White, Savage &
Company, Inc.
(610) 521-4400 (212) 888-1616
FOR IMMEDIATE RELEASE
EPL TECHNOLOGIES, INC. CONFIRMS THE ANNOUNCEMENT BY FARMINGTON FRESH OF A
THREE-YEAR LICENSING AGREEMENT TO LAUNCH FRESH-CUT APPLE SLICES THROUGHOUT
NORTH AMERICA
Philadelphia, PA - October 2, 1997 - EPL Technologies, Inc. (NASDAQ:EPTG) today
confirmed the signing of a three year licensing agreement with Farmington
Fresh, the largest grower/shipper of Fuji apples in California. Under the
terms of the agreement, Farmington Fresh, which has been granted production
exclusivity in their local geographic market, will produce fresh-cut apple
slices using EPL's proprietary processing aid technology as well as EPL's
related scientific support and packaging technologies.
The new sliced apple product, to be marketed under the name APPLE BITES(R),
will be processed at Farmington's newly built processing plant, located in
Stockton, CA. The announcement of the contract marked the completion of the
work between the two companies in refining plant construction and engineering
criteria to specifically accommodate integrating EPL's new, enabling technology
and related protocols and procedures into the new production plant. It also
marked the beginning of the launch of a new, value-added apple product
considered by both companies to be the market leader.
EPL Chairman and Chief Executive Officer, Paul L. Devine said: "This is another
exciting development in the progress of our company. Our relationship with
Farmington Fresh marks the beginning of a new era introducing fresh-cut apple
slices as a healthy, convenient snack food. Farmington's ability to manage,
grow and process the high quality raw material, when combined with EPL's
enabling technologies, ensures the consumer will be able to enjoy a truly
exciting new product category.
The US domestic apple crop is estimated by the U.S. Department of Agriculture
to have been some 11 billion pounds in 1995. It is our goal to develop and
secure over time a substantial proportion of the fresh-cut segment that is
developing across the entire produce industry and that, in the case of apples,
is being enabled by EPL's technology. This is another example of how EPL, a
world leader in technology for fresh-cut produce, allows its partners to
participate in the `value-added' sale of produce products where, historically,
the shippers of apples were unable to maintain product integrity sufficiently
to build a fresh-cut market."
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EPL Technologies, Inc., through its subsidiaries that utilize proprietary
packaging, processing aids and related technologies and support services, is in
the business of maintaining the integrity of fresh-cut produce. The Company
believes that its technologies are safe (FDA GRAS listed), environmentally
"friendly" and add tangible value to the business of its customers.
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