AFRT pump before the bell :)
American Fire Retardant Corp. Discusses Growth of American Safety Products
Wednesday June 23, 9:15 am ET
SAN DIEGO--(BUSINESS WIRE)--June 23, 2004--On a call with investment bankers, shareholders and management yesterday (June 22, 2004) James R. Wheeler, vice president of sales and marketing for American Fire Retardant Corp. (AFRT) discussed the growth of the American Safety Products division of AFRC and its impact on the future of the company.
In the conversation, Wheeler explained that American Safety Products has the personnel and resources to make the balance of this fiscal year a spectacular one. He began by recapping the accomplishments from December 2003 to present, which include the acquisition of NCFR and the completion of the R&D process for GLOVEBOX® with distribution agreements in place for China, Singapore, Malaysia and Thailand. There are also agreements in the works for distribution in the United States and a signed agreement with Relco to manufacture and distribute fire retardant products to the furniture and bedding industry.
Wheeler said, "This should be a banner year." In the conversation it also became very clear that the acquisition of Wilson Marketing was a very strategic move for AFRC and American Safety Products. One of the Wilson products discussed was the HoodPac®, a patented safety product that will be marketed in conjunction with other products of a major name-brand at most retail outlets.
Wheeler also said, "The American Safety Products division of AFRC has a team currently in Germany negotiating a European distribution agreement for both Tree Safe and 3-in-1 Hero and look forward to additional distribution agreements for the core product line of fire retardant chemicals and coatings."
Randy W. Betts, CFO of American Fire Retardant Corp., said, "Mr. Wheeler's optimism and enthusiasm are contagious. More importantly the reason for his optimism is the investment that AFRC has made over the past 12 months in technology and infrastructure. Some of that infrastructure includes the sales and marketing expertise of Mr. Wheeler, Mr. Wilson and Mr. Fawcett and their respective teams. Combine all of this with the fact that we have paid down a tremendous amount of debt and this year should prove to be a year of building for AFRC."
Wheeler concluded by saying, "AFRC and American Safety Products intend to become the leader in the new 'Life Safety' sector by being a fully integrated manufacture, contractor, installer and distributor of a complete line of consumer safety products."
About American Fire Retardant Corp.
American Fire Retardant Corp. (OTCBB:AFRT - News), www.americanfireretardant.com, is in the business of developing, manufacturing and marketing a line of interior and exterior fire retardant products. American Fire Retardant Corp. also designs new technology for future fire resistive applications that are being mandated by local, state and governmental agencies. Additionally, the company is active in the construction industry as sub-contractors for fire stop and fire film installations.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.
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Contact:
American Fire Retardant Corp.
James R. Wheeler, 619-258-3640
irafrc@aol.com
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Source: American Fire Retardant Corp. |
