American Fire Retardant Corp. to Launch a Series of Aerosol Cans Filled with Fire Retardant For Home Use
SAN DIEGO--(BUSINESS WIRE)--Oct. 15, 2001--American Fire Retardant Corp. (OTCBB:AFRC - news), a fire protection company that specializes in fire prevention and fire containment, announced today that they are introducing a series of aerosol cans filled with fire retardant designed to save lives and property by protecting the inner infrastructure of homes from fire. The first two of these products are designed to protect fabrics used in upholstery and draperies and the second is used to protect Christmas trees.
There will also be four other aerosol cans for treating other types of material, such as wood, to make them fire resistive. These cans will be available through retail outlets, the Internet and mail order. Because of the increasing public awareness of the fire hazards in their homes (such as cigarettes on mattresses or sofas), AFRC feels these products will put them years ahead of their competitors, and they should be able to sell millions of these cans within the first year they are introduced.
Also, new legislation, Bill No. 603, requiring all fabric used in upholstery, draperies, etc. to be fire resistant becomes effective in January 2004. Between the new aerosol cans and the increase in business due to this new law, American Fire Retardant Corp. is looking at a very significant increase in its revenues in the next year.
American Fire Retardant Corp. believes that one million to five million of these cans, at an anticipated retail price of $9.99, will be sold in the first year on the market, bringing in additional revenues to AFRC of $10,000,000 to $50,000,000 in the first year of launch. This revenue would be in addition to total revenues for American Fire Retardant, which were approximately $2,700,000 in the year 2000, and the trend for 2001 indicates total revenues should be over $3,000,000. Contracts they are currently working on or will start in the 4th Quarter exceed $2,000,000, and they have additional contracts scheduled to begin in the year 2001 of another $2,000,000. There are also more than $1,500,000 in contracts they anticipate receiving that will also begin in the year 2002 with those being announced in future press releases.
``I feel the introduction of these aerosol cans for consumer use will launch our company into an entirely new arena in the fire-retardant industry, creating a tremendous new revenue stream for AFRC,'' stated Stephen F. Owens, CEO and president. He concluded by saying, ``This new revenue stream should make American Fire Retardant Corp. very profitable in the year 2002.'' |
