Metro Machine Agrees to Purchase UltraStrip

Tuesday, June 11, 2002
UltraStrip Systems, Inc. announced that Metro Machine Corp. of Norfolk, Va. has agreed to purchase a high production prototype UltraStrip robotic paint removal system for $2 million. Metro is developing a marine vessel enclosure, paint removal, and coating system, the Metro Ship Coating System, and will be evaluating the UltraStrip prototype for use in the Metro Ship Coating System. A binding agreement has been secured from Metro, and delivery and initial testing is scheduled to be completed by August 15 Dr. Robert O. Baratta, president and CEO of UltraStrip Systems said, "Metro plans to use the UltraStrip technology in its own shipyard and market the Metro Ship Coating System with the UltraStrip technology to other shipyards and ship repair companies. We look forward to a long and prosperous relationship with Metro, as we work together to refine and integrate the two technologies, with the goal of creating a state of the art system for the dry docking of marine vessels."
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