REDISHRED CAPITAL CORP. ANNOUNCES LICENCING AGREEMENT FOR THE MIDDLE EAST
15 Novembre 2010 - 11:43PM
PR Newswire (Canada)
MISSISSAUGA, ON, Nov. 15 /CNW/ -- MISSISSAUGA, ON, Nov. 15 /CNW/ -
Redishred Capital Corp. (TSX.V - KUT) announced today that its
subsidiary, Professional Shredding Corporation ("PSC"), has entered
into a license agreement with Averda International FZ-LLC
("Averda") to operate PROSHRED(®)'s shredding and recycling
business platform in 15 countries and 4 territories throughout the
Middle East. This marks Redishred's first foray into
international markets and serves as the launch of the PROSHRED(®)
and REDISHRED brand worldwide. Redishred anticipates that
Averda will commence shredding operations in early 2011.
Redishred's CEO, Robert Crozier, commented, "We are pleased to have
awarded our first international licensee that will expand the
PROSHRED(®) and REDISHRED brands in the Middle East. On top
of that we are thrilled that Averda will be our licensee. Averda
has an outstanding reputation in the Middle East as a custodian of
the environment and are truly an innovative leader in the waste
management and recycling industry. Averda's vision for
environmental and social responsibility is congruent with our
vision and core values." Redishred's President, John Prittie who is
responsible for franchising and licensing for Redishred further
noted, "This exclusive license agreement represents Redishred's
first steps into global markets and is in keeping with
PROSHRED(®)'s vision to be a global leader providing businesses and
consumers with secure destruction and recycling services for their
confidential information and proprietary materials." Malek Sukkar,
CEO of Averda, pointed out that "this agreement constitutes a
perfect fit to our aggressive expansion plans into related sectors
of activity in our operating territory and beyond. Confidential
document destruction, along with our vast array of services
currently offered, will complement and enhance Averda's value
proposal to its existing and potential clients. We will be
integrating even further activities in the near future and are very
keen on choosing the best possible partner for each. We are happy
to be associated with industry pioneers such as Proshred and
strongly believe such a long term alliance will generate mutual
value". About Redishred:( ) Redishred Capital Corp.
is the owner of the PROSHRED(®) trademarks and intellectual
property in the United States and internationally (with the
exception of Canada). PROSHRED(®) shreds and recycles
confidential documents and proprietary materials for thousands of
customers in the United States in all industry sectors.
PROSHRED(®) is a pioneer in the mobile document destruction and
recycling industry and has the ISO 9001 certification. In addition
to the ISO certification, most of our franchise and corporate
locations are NAID AAA certified. It is PROSHRED(®)'s vision is to
be the 'system of choice' and provide shredding and recycling
services on a global basis. Additionally, PROSHRED(®) prides its
self on its contribution to the protection of the environment by
way of recycling the products it destroys. During the first
half of 2010, PROSHRED(®) locations shred and recycled 9,900 tons
of paper, equating to 149,000 trees being saved. About Averda:
Averda entered the waste management business more than three
decades ago and today provides commercial and municipal waste
management services to Lebanon, Oman, Qatar, Saudi Arabia and the
United Arab Emirates. Averda's waste and resource management
business has expanded rapidly during the last few years, growing
from its Lebanese roots to a base which now stretches across the
Middle East and North Africa ("MENA") region. From high-volume
municipal waste to specialized industrial needs, Averda benefits
governments, municipalities, businesses, NGOs and residential
communities in the MENA region by delivering a full range of
environmental services. Averda has brought new and increased
standards to the cleaning, collection, recovery and disposal of
waste through its environmentally sound practices that are more
caring for our ecosystems. Averda has built an integrated waste
management business and is expanding rapidly throughout the MENA
and aims to become the region's leading environmental services
company for both private and public sectors. Additional information
can be found at www.averda.com Note: The TSX Venture Exchange has
neither approved nor disapproved of the information contained
herein. This news release contains forward looking statements
that reflect the current expectations of management of Redishred
and Redishred's future results, performance, achievements,
prospects and opportunities. Wherever possible, words such as
"may", "will", "estimate", "believe", "expect", "intend" and
similar expressions have been used to identify these forward
looking statements. These statements reflect current beliefs and
are based on information currently available to management of
Redishred. Forward looking statements necessarily involve
known and unknown risks and uncertainties. A number of
factors, including those discussed in the 2008 management
discussion and analysis under "Risk Factors", could cause actual
results, performance, achievements, prospects or opportunities to
differ materially from the results discussed or implied in the
forward looking statements. These factors should be considered
carefully and a reader should not place undue reliance on the
forward looking statements. There can be no assurance that the
expectations of management of Redishred will prove to be correct.
In particular, certain statements in this document discuss
Redishred's anticipated outlook of future events. These
statements include, but are not limited to: (i) The commencement of
operations may be delayed by the licensee's inability to complete
initial training, or their inability to secure the required
facilities and equipment to operate the Proshred platform. Readers
are cautioned that such forward looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from these statements. Redishred can give no
assurance that actual results will be consistent with these
forward-looking statements. pRedishred Capital Corp. (TSX.V -
KUT)br/ Jeffrey Hasham, CAbr/ Chief Financial Officerbr/ a
href="mailto:Jeffrey.hasham@redishred.com"Jeffrey.hasham@redishred.com/abr/
a href="http://www.redishred.com"www.redishred.com/abr/ Phone:
(416) 849-3469 Fax: (905) 812-9448/p pRobert Crozierbr/ Chief
Executive Officerbr/ a
href="mailto:Robert.crozier@redishred.com"Robert.crozier@redishred.com/abr/
a href="http://www.redishred.com"www.redishred.com/abr/ Phone:
(902) 429-2437 Fax: (905) 812-9448/p
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