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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) January 22, 1999
EPL Technologies, Inc.
(Exact name of registrant as specified in its charter)
Colorado 0 - 28444 84-0990658
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2 International Plaza, Suite 245, Philadelphia, PA 19113
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (610) 521-4400
Not Applicable
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On January 22, 1999, EPL Technologies, Inc. (the "Company") announced
that the U.S. patent office had granted a new U.S. patent to the Company, the
claims of which are based on fresh-cut potato processing aid technologies
designed to better maintain the quality, and thus enhance the economic value, of
whole peeled potatoes as they are brought to the consumer, as detailed more
fully in the press release attached as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
a) Not Applicable
b) Not Applicable
c) Exhibits
99.1 Press Release dated January 22, 1999 in
relation to new patent.
2
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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 : February 22, 1999 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 January 22, 1999 in relation to new patent
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CONTACT:
EPL Technologies, Inc.
Investor Relations Department, Philadelphia [EPL LOGO]
Bruce Crowell, Chief Financial Officer
(610) 521-4400
2 International Plaza, Suite 245
Philadelphia, PA 19113-1507
Tel: 610-521-4400
Fax: 610-521-5985
Cameron Associates
Laurel A. Gottesman, Investor Relations
(212) 245 8800
Bruce Boyle, Media Relations
(215) 988 4641
FOR IMMEDIATE RELEASE
EPL TECHNOLOGIES ANNOUNCES NEW PATENT FOR
PROCESSING WHOLE PEELED POTATOES AND RELATED DEVELOPMENTS
Philadelphia, PA -- January 22, 1999 -- EPL Technologies, Inc. (NASDAQ:EPTG), a
leading provider of technologies to the fresh-cut produce industry, today
announced that the U.S. patent office had granted the Company a new patent based
on a fresh-cut potato processing aid technology, designed to better maintain the
quality, and thus enhance the economic value, of whole peeled potatoes.
Whole potatoes discolor and can harden if they are not used soon after peeling.
The technology covered by the new patent is designed not only to inhibit the
enzymatic browning or discoloration that occurs shortly after peeling, but also
to prevent the outer 'casing' of the potato from hardening during boiling, even
if boiled up to 10 days after peeling. The Company believes that a peeled potato
processed using the new technology should thus retain the characteristics of a
freshly peeled potato in all material respects for longer periods after
processing.
Paul L. Devine, Chairman and Chief Executive Officer of the Company, commented:
"This new patent marks a further addition to the family of fresh-cut potato
products that we will be able to offer in the foodservice and retail markets. We
believe that this enabling technology will open up new sales opportunities, and
we have already received inquiries about our whole peeled product from several
European businesses."
This new technology will be marketed alongside the Company's existing Potato
Fresh(TM) technology, which is currently used in support of the Company's
fresh-cut french fry products sold under the "Green Giant(R) Fresh" brand. The
Company has added momentum to the roll-out of the Company's fresh-cut french fry
products. The Company currently plans to have the fresh-cut french fries
available by the end of the first quarter of 1999 in over 100 restaurants,
located principally on the West Coast of the U.S., which has been the initial
geographic target of the Company's national roll-out. Mr. Devine added: "We
believe that the increased demand for these fresh-cut products underscores the
quality of our potato technology and we expect that this increased demand should
help facilitate acceptance of our new whole peeled potato product."
EPL Technologies, Inc. develops, manufactures and markets proprietary processing
aids, packaging technologies and scientific and technical services, which are
designed to maintain the quality and integrity of fresh-cut produce.
Statements in this release that are not statements of historical fact and
reflect the intent, belief or expectations of the Company and its management
regarding the expected effect of events, circumstances and trends should be
considered forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are
not guarantees of future performance, and actual results may vary materially
from the expectations contained in the forward-looking statements. Meaningful
factors that may affect such results include, but are not limited to, (i) the
Company's product development and sales process, which remains lengthy and
resource intensive, (ii) the uncertainty of demand for and market acceptance of
the Company's new and existing products, (iii) potential difficulties that may
arise with the introduction of any new technology, whether in market penetration
or product applications, and (iv) increased personnel and production
requirements and related difficulties in managing multiple product lines.
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