Business Editors
DELRAY BEACH, Fla.--(BUSINESS WIRE)--Dec. 19, 2000--International
Foam Solutions, Inc. (OTCBB:IFOS) announced today that the Company has
finalized an agreement with Arcon AS in Oslo, Norway. Arcon AS is now
the Exclusive Distributor in Norway for IFS to sell Styro Solve(c),
Solution Machines(c) and IFS's unique recycling system.
As reported earlier, Arcon is a major distributor of raw materials
to the Norwegian industry and is in a position to organize a recycling
chain. Arcon has reported to IFS that a formal feasibility study is to
take place as soon as the Solution Machine(c) Model SM4000 is
received. IFS is planning to ship the Model SM4000 to Oslo, Norway
this week.
"Currently there are 17,000,000 to 19,000,000 polystyrene (foam)
fish boxes being produced annually in Norway and over 1,000 Metric
Tons of polystyrene used in making yogurt containers alone," Harvey
Katz, CEO stated, "This market could be built within two years." Mr.
Katz also said today, "the entire Norwegian market could be generating
enough polygel(c) to have a full recycling plant in operation within
this two-year time frame."
IFS is anticipating that this recycling plant will have an output
of 4,000,000 to 6,000,000 pounds of polystyrene annually. This will
take about 1,700,000 pounds of Styro Solve(c) or approximately 190,000
gallons. This would generate retail sales of $3,420,000 of Styro
Solve(c) and an additional $1,130,000 in annual sales of recycled
material to end-users. These figures do not include equipment sales or
after market sales.(1)
"Estimates of sales from the plant of recycled polystyrene beads
would vary depending upon market prices by using an average price of
$0.40 per pound. This would generate $2,000,000 in gross revenue. If
the same plant makes an end product using the recycled 'polygel(c)'
the revenues could be as high as$11,300,000," stated Harvey Katz, CEO
of International Foam Solutions, Inc.(2)
IFS will now begin focusing on the industrial and packaging
industries in the United States. "This market segment has been
overlooked and neglected in the past even though this market comprises
well over 50% more polystyrene than the food service industries.
Packaging material has no food contamination which reduces the cost of
recycling," said Katz, "and that will mean higher profits."
The statements made by International Foam Solutions (IFS) may be
forward-looking in nature. Actual results may differ materially from
those projected in forward-looking statements. IFS believes that its
primary risk factors include, but are not limited to: the need for
substantial financial requirements; the need to develop effective
internal process and systems; the ability to attract and retain
high-quality employees; changes in the overall economy; changes in
technology; the number and size of competitors in its markets; changes
in the law and regulatory policy; and the mix of product and services
offered in the company's target markets.
Visit the Company's website at www.internationalfoamsolutions.com
(1) Figures used are approximate based on retail published prices.
(2) Figures based on pounds of end products sold on a per item basis.
--30--eg/mi*
CONTACT: International Foam Solutions, Delray Beach
Harvey Katz, 561/272-6900
or
Sales Information:
Tony Bianco, 561/272-6900 |
