Clean Systems Technology Group Ltd. (CSTG), a Florida corporation issues an update to its shareholders, announcing that the company is now back in the black and profitable. CSTG revenues and earnings are up for the year 2003, following a successful drive to generate cash—including continuing, aggressive cost-reduction programs.
CSTG implemented cost cutting measures during the quarter ending December 31, 2002, which will be reflected in the group’s next filings. During 2002 CSTG invested in establishing a new facility in Milan Italy, which focuses on providing MCVD Process Tools to the Fiber Optics Industry.
CSTG announced the management is considering a share buyback program, which is expected to greatly increase price per share. Founded in 1995, CSTI is a provider of specialized total solutions for delivery systems for ultra-high pure gas and chemicals. CSTI's total solution includes the engineering, design, manufacturing, installation and servicing of these systems.
These gas and chemical delivery systems perform a mission-critical role in several multi-billion dollar industries, including micro-electronics, semiconductors, fiber optics, pharmaceuticals, and biotechnology.
CSTI has offices in Israel and Italy serving clients around the world, including in Europe, Israel, India and the USA. The company currently has 80 employees. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
