VIASPACE Forecasts 100% Increase In Revenues From Framed Artwork Business
IRVINE, Calif., Jan. 24, 2011
VIASPACE Inc., and its renewable energy subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) announced that its Inter-Pacific Arts business unit has received new customer orders for framed art for delivery in the first half of 2011. The company expects first quarter and second quarter revenues for 2011 to exceed 100% of 2010 levels.
Inter-Pacific Arts (IPA) manufactures and sells high quality framed art to U.S. retailers. IPA works with buyers at major retailers to select custom combinations of art, mattes and frames to assure that each customer receives a unique combination of art and frame that is not available to other retailers. IPA only works with container-load customers, and the containers of framed artwork are shipped from the IPA factory in China.
IPA can accommodate requests for custom framing of any size and format and will matte and frame a customer's proprietary art upon request.
Chief Executive Carl Kukkonen reported, "The framed art business is very important to VIASPACE, and we are proud of the products we produce for our U.S. customers, which are well known retail chain stores. The orders for 2011 thus far are very encouraging and indicate significant business growth over 2010. Thorough and extensive quality audits are conducted regularly by customers, and IPA has earned a reputation to produce excellent quality framed art."
Kukkonen continued, "The framed art business may seem incongruous with our Giant King Grass business in China, but they are quite synergistic. IPA is experienced in business operations and procurement in China and shipping products to the U.S. VIASPACE is able to keep overhead costs at a minimum by sharing resources between the two business units. It is a win-win situation. The framed art business is profitable and growing. I also conducted customer tours of the Giant King Grass plantation during my trip and will report on that in the near future."
About VIASPACE
VIASPACE is a clean energy company providing products and technology for renewable and alternative energy that reduce or eliminate dependence on fossil and high-pollutant energy sources. Through its majority-owned subsidiary VIASPACE Green Energy Inc., the Company grows Giant King Grass as a low-carbon fuel for electricity generating power plants, as a feedstock for bio methane production and cellulosic biofuels, and for other low-carbon, renewable energy products. VIASPACE Green Energy recently introduced its Green Log(TM) fireplace and campfire log product. VIASPACE Green Energy also has a business unit that manufactures quality framed art for retailers in the United States. For more information, please go to www.viaspace.com or www.viaspacegreenenergy.com, or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com. |
