Press Release: May 2002
BioShield Technologies announced
today that Aerus LLC (formerly Electrolux LLC), a leading US supplier of
homecare products, has signed a letter of intent with BioShield
Technologies, Inc. to form a Strategic alliance/ Combination between the
two companies which could include licensing by Aerus of certain BioShield
Tim Moses, President and CEO of
BioShield Technologies, Inc., stated, "This is an exceptional
opportunity for us and can add significant value to BioShield, our
patented and EPA approved line of products. We are diligently working with
Aerus (formerly Electrolux LLC), to determine the best structure and to
provide an equitable and opportunistic proposal for both of our companies.
We're very excited about the potential of this transaction and we look
forward to spending the next 120 days with Aerus' management in our due
diligence phase, focusing on the best possible outcome for both
Joseph P. Urso, Chairman and CEO of
Aerus LLC, offered his comments. "Aerus is focused on providing
healthy living solutions that help consumers take better care of their
families. The combination of BioShield's innovative technology and our
state-of-the-art floor care and air purification products offer exciting
possibilities. We, too, are committed to working with BioShield to
determine the most advantageous opportunities."
BioShield Technologies, Inc., is a
Georgia-based biotechnology and antimicrobial products company. Its core
business is committed to the discovery, development, marketing and sale of
surface-modifying antimicrobial and biostatic products. The company's
antimicrobial technology is a revolutionary alternative to conventional
sanitizers, disinfectants, bleaches, biocides or preservatives.
To date BioShield has received
three US patents and eight EPA registrations, including the first U.S.
germ killer and disinfectant against Salmonella cholerasuis,
Staphylococcus aureus and other microorganisms. The company has developed
several alliances in different industries, such as healthcare, textiles
Further information on BioShield
and its line of products can be found by visiting the firm's web site at
www.bioshield.com . Contact Timothy Moses 770-925-3653.
AERUS LLC (formerly Electrolux)
The Electrolux® name has been
synonymous with the best floor care products for over seven decades. From
that foundation, a new vision was built: Aerus(TM), a company that is more
than making homes cleaner, it's making lives better. By broadening
Electrolux' focus, Aerus will continue to offer its high-quality floor
care products, as well as innovative new products to deliver solutions
that today's consumers want and need. Healthy living solutions such as
state-of-the-art air and water purification are only part of Aerus'
expanded offering. Based in Dallas, Texas, the company's priorities remain
the same: quality products and personal service. For more information on
Aerus and its line of products, please visit the company website at
www.aerusonline.com . Contact Linda Padilla 214-378-4000.