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 (Date of earliest event reported) January 24, 2002
BICO, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania 0-10822 25-1229323
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
2275 Swallow Hill Road, Bldg. 2500, Pittsburgh, Pennsylvania 15220
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 429-0673
______________________________________________________
(Former name or former address, if changes since last report.)
Item 1. Change in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
Item 5. Other Events.
Petrol Rem, Inc., a subsidiary of BICO, Inc.,
announced today that it recently entered into a
two-year exclusive agreement granting to Belgian-
based Clean World Solutions master distributor
rights to all of Petrol Rem's oil spill
absorption and bioremediation products throughout
Europe. The initial order of $110,000 required
by the agreement, has already been made by Clean
World Solutions,
Item 6. Resignation of Registrant's Directors.
Not Applicable
Item 7. Financial Statement, Pro Forma Financial
Information and Exhibits.
(a) Financial Statements and Businesses Acquired
- Not Applicable.
(b) Pro Forma Financial Information
- Not Applicable.
(c) Exhibits - Press Release.
SIGNATURES
Pursuant to the requirement of the Securities Exchange
Act of 1934, the Registrant has duly caused this Report to
be signed on its behalf by the undersigned hereunto duly
authorized.
BICO, INC.
by /s/ Fred E. Cooper
Fred E. Cooper, CEO
DATED: January 24, 2002
BICO SUBSIDIARY PETROL REM SIGNS EUROPEAN MASTER
DISTRIBUTOR
Pittsburgh, PA - January 24, 2002 - Petrol Rem, Inc.,
a subsidiary of BICO, Inc. (OTCBB:BIKO), announced today
that it recently entered into a two-year exclusive
agreement granting to Belgian-based Clean World Solutions
master distributor rights to all of Petrol Rem's oil spill
absorption and bioremediation products throughout Europe.
The initial order of $110,000 required by the
agreement, has already been made by Clean World Solutions.
Dirk Volders, principal of Clean World Solutions,
said, "Petrol Rem's outstanding and effective natural oil
spill absorption and bioremediation products are an
exciting addition to our product line. In BioSok product
alone, we project approximately $700,000 USD in revenue for
2002, and we look forward to a long, prosperous
relationship with Petrol Rem."
"We are extremely enthused about this venture with
Clean World Solutions because of their commitment to the
environment and the leadership provided by Mr. Dirk
Volders," said Petrol Rem president and CEO, Pascal M.
Nardelli.
Clean World Solutions will operate under the agreement
through its recently formed division called Petrol Rem
Europe, which officially launched sales and marketing
efforts for the BioSok this month at the Dusseldorf,
Germany Boat Show, one of the largest in the world.
Launching of sales and marketing for Petrol Rem's PRP
product is scheduled for Mid-March at the International
Maritime Organization's Third R & D Forum on High - density
Oil Spill Response in Brest, France.
Clean World Solutions plans to grant exclusive sub
distributor agreements in each country included in the
Master Distributor Agreement. Companies in Germany,
Belgium, and Luxemburg have already signed an agreement and
purchased product while concrete negotiations are in
progress with entities in France, Italy, Norway, and
Poland.
PRP, Petrol Rem's base product is sprayed as a loose
powder on open water spills and bonds immediately with the
oil preventing the pollution from sinking or further
contaminating wildlife and vegetation. PRP is contained
in the BioSok and BioBoom products. BioSok is used in boat
bilges and the BioBoom is used to solve a variety of
hydrocarbon problems. Effective on all hydrocarbons, all
of the products absorb and biodegrade the oil, then
biodegrade themselves.
Nearly two years old, Clean World Solutions'
(www.cleanworldsolutions.com) mission is to help provide a
cleaner world and concentrates its product line to
accomplish that mission.
BICO, Incorporated has its corporate offices in
Pittsburgh, PA and is involved in the development and
manufacture of biomedical devices and environmental
solutions. Subsidiary Petrol Rem, Inc., is the
environmental arm of BICO.
FOR FURTHER INFORMATION, CONTACT:
Investors Media
Diane McQuaide Susan Taylor
1.412.429.0673 phone 1.412.429.0673 phone
1.412.279.9690 fax 1.412.279.5041 fax
INVESTOR RELATIONS NEWSLINE NUMBER: 1.800.357.6204
WEBSITE: www.bico.com; http://www.petrolrem.com/