JER Receives Its First Compound Order for Export to Asia
29 Juillet 2008 - 10:00PM
Marketwired
VANCOUVER, BC (FRANKFURT: KFTB) is pleased to announce that the
Company has received its first confirmed purchase order for JERtech
compounds for export to Asia. JER Envirotech has initiated sales of
its JERtech PP 9030 H20 compound to G5 International of Singapore
to supply customers in Japan. This order represents JER's initial
foray into the Asian export market and is the end result of six
months of sampling and trials to develop the product and establish
a product position in the Japanese market place. G5 International
is a division of G5 Holding, Ltd., a producer of environmentally
friendly and biodegradable products headquartered in of
Singapore.
Established in 2000, G5 is a producer of environmentally
friendly, biodegradable materials. Based in Singapore, the company
uses a team of experienced scientists in the field of polymer, and
highly qualified engineers, to provide innovative formulations and
technologies that convert agricultural waste into useful, high
quality everyday products. These include a wide range of disposable
containers for food, gardening, and packaging. G5 Holdings has
developed a corporate commitment to using only non-animal
ingredients and establishing products that are biodegradable,
compostable, recyclable and free from toxins.
"We are pleased with this new relationship and opportunity for
JER to extend its products into Asia," states Edward Trueman,
President and CEO of JER. "The G5 opportunity validates JER's
commitment to providing products worldwide. We are confident that
with G5 International, JER will significantly expedite the export
market penetration for our JERtech� thermoplastic
biocomposites."
For more information about G5 International, visit
http://www.g5holdings.com.
JER Purchases 100% of Malaysian Sheet Manufacturing Plant
JER is also pleased to announce today that the Company has
purchased the 49% stake in its Malaysia-based sheet extrusion line
previously owned by Asia Pacific Microspheres Sdn. Bhd. JER's
Malaysian plant is operated by JER Envirotech Sdn. Bhd., a
joint-venture partnership between JER Envirotech International
Corp. (51% ownership) and Asia Pacific Microspheres Sdn. Bhd.
("APM" - 49% ownership). JER now owns 100% of both of its
compounding lines in Delta, BC and sheet extrusion line in
Malaysia. In addition to the purchase of the APM equity interest,
the company was able to negotiate a significant discount for final
settlement with the leasing company that provided the original
fixed line of credit facility amount of approximately $1,950,000,
in consideration for one lump sum payment of $383,091 in order to
release both APM and JER from the performance of all of their
respective obligations under the Corporate Guarantee/
Indemnity.
"With sales of our proprietary JERTech(TM) thermoplastic
composite products ramping up, it makes financial sense for the
Company to secure full ownership of its production assets," stated
Mr. Trueman. "The Company is now able to fully benefit from further
business expansion opportunities and it is also unencumbered when
it comes to future decisions regarding equipment expenditures and
line maintenance."
About JER Envirotech International Corporation
JER is a global manufacturer of thermoplastic biocomposite
compounds and sheeting. The Company's patented technology utilizes
waste or by-product materials, such as wood fibre or rice hulls, to
produce environmentally friendly alternative products for
applications in the construction, transport, automotive and toy
industries. The Company currently has a range of biocomposite
formulations, which it developed in collaboration with the National
Research Council - Industrial Materials Institute of Canada.
JER currently has manufacturing operations in Canada, Malaysia
and the Philippines. The Company is publicly traded on the TSX
Venture Exchange (TSX) under the symbol "JER" and on the Frankfurt
Stock Exchange under the symbol "KFTB."
JER ENVIROTECH INTERNATIONAL CORPORATION
"Ji Yoon"
Mr. Ji Yoon
Chief Financial Officer
International: +1 (604) 940-9262
jyoon@jerenvirotech.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. This news release contains
certain forward-looking statements that reflect the current views
and/or expectations of JER Envirotech International Corp. with
respect to its performance, business and future events. Investors
are cautioned that all forward-looking statements involve risks and
uncertainties including, without limitation, those relating to
changes in the market, potential downturns in economic conditions,
foreign exchange fluctuations, demand for thermoplastic
biocomposites, competition and our ability to implement our
business plans and strategies in a timely manner or at all. These
risks, as well as others, could cause actual results and events to
vary significantly. JER Envirotech International Corp. does not
undertake any obligations to release publicly any revisions for
updating any voluntary forward-looking statements.
(2008-07 #17)
Distributed by Filing Services Canada and retransmitted by
Marketwire
For more information, visit www.jerenvirotech.com or contact:
Mr. Ji Yoon Chief Financial Officer International: +1 (604)
940-9262 Email Contact Investor Relations: Mr. Mark Komonoski VP
Corporate Communications Toll-Free: 1-877-255-8483 International:
+1 (403) 470-8384 Email Contact Email: Email Contact
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