AUSTIN, Texas, Sept. 2 /PRNewswire/ -- Loch Harris, Inc. (Nasdaq:LOCH) moved
today into
new corporate headquarters in Austin, Texas, to consolidate its subsidiaries
in the heart of Austin's
high-tech environment and near an experimental ranch in Fredericksburg, Texas,
according to R.B.
Baker, president of Loch Harris.
``The new location, 515 Capital of Texas Highway (Loop 360), combines offices
formerly in Fort
Worth/Dallas and Arlington, Texas; Mesa, Ariz., and Laguna Hills, Calif., into
Austin's hotbed of
high-tech talent,'' he said, ``making it a perfect place for Loch Harris'
InfoTech Systems
International, Inc., to concentrate on further applications of its PC93000
security system.''
The location also facilitates Loch Harris' serious bid aimed to make its
wholly-owned subsidiary,
AgraTech International, Inc., the owner of the largest herd of purebred Tuli
cattle in North
America, said Baker. ``When we can successfully close a bid now on the table,
we will own more
than five times the herd of our nearest competitor, plus hundreds of
cryogenically preserved
embryos from the 14 top-rated Tuli bulls in the world.''
Consolidation in Austin strengthens Loch Harris' ``incubator'' focus to
acquire companies with
potential for development into possible spin-offs, said Rodney Boone,
Executive VP/COO and
leader of the team that is negotiating the Tuli project.
``This acquisition will add approximately $20 million in equity to the company
and produce an
income range between $4 and $8 million dollars annually worldwide, depending
on market
absorption, industry stability and reproductive harvesting,'' said Boone.
Final closing on purchase of the Tuli herd is expected by Oct. 1, said Boone.
The herd will be
moved to the AgraTech ranch in Fredericksburg, Texas, where its president,
Charles M.
Blackwell, will develop artificial insemination and embryo transfer programs.
The Tuli, a pure African Sanga breed, is a descendent of Bos Taurus cattle
that have been in
Africa more than 5,000 years, said Boone. ``The Tuli herd is from embryos
harvested by
renowned doctor of veterinary medicine Martin Wenkoff, who developed the
protocols for the
embryo transplant program for the nation of Zimbabwe.''
Published research by Dr. Wenkoff cites numerous advantages offered by the
Tuli breed, including
early maturity, and high resistance to heat stress, parasites and disease,
said Boone. ``These
factors could enhance the bottom line of everyone in the beef industry as Tuli
breed becomes
accepted and widely cross-bred. We believe Tuli will greatly impact the
future; and when it
happens, we intend to be positioned to be a major player in the field.''
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This is a
forward-looking statement; actual results could differ depending on market
absorption and
long-term industry stability, industry acceptance of the Tuli breed and
subsequent cross-breed
programs, successful reproductive harvesting and long-term health of donors,
and actual closing of
acquisition.
SOURCE: Loch Harris, Inc.