Is this our Gary Borglund?
Monday June 29, 6:05 pm Eastern Time
Company Press Release
SOURCE: Nortech Forest Technologies, Inc.
Nortech Forest Technologies Adds New Director
MINNEAPOLIS, June 29 /PRNewswire/ -- Nortech Forest Technologies (OTC Bulletin Board: NRTC - news) announced today the addition of Dr. Guy W. Miller, Ph.D. to its Board of Directors.
Dr. Miller is Chief Executive Officer and a principal shareholder of BioSun System Corporation, a Minnesota company providing innovative agricultural waste treatment programs. He previously was President of Encore Technologies Inc., which had several proprietary microbial products for the agricultural, horticultural, and turf markets. Dr. Miller has been active in both the product development as well as marketing and distribution of products to the agricultural market. He received his Ph.D. in Anaerobic Microbiology from Kansas State University.
''We are very pleased to have Dr. Miller join our Board of Directors,'' stated Gary Borglund, President and CEO of Nortech. ''He will provide even greater direction and guidance to Nortech's plan to develop and introduce more products to its distribution channels.'' Gary Borglund also commented, ''Credit card sales of Nortech's deer repellent TREE GUARD have been brisk.''
SOURCE: Nortech Forest Technologies, Inc.
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More Quotes and News: Nortech Forest Technologies (OTC BB:NRTC - news)
Related News Categories: paper/forrest
NORTECH FOREST TECHNOLOGIES REPORTS INCREASED SALES AND INCOME
MINNEAPOLIS, Aug. 27 /PRNewswire/ -- Nortech Forest Technologies, Inc. (OTC Bulletin Board: NRTC) released its quarterly earnings report of June 30, 1998.
The Company reported sales growth of 50.3% for the quarter ended June 30, and 52.8% for the six months' year to date. Six months' revenues were $304,000. In addition, net income for the quarter was $25,000 compared to an $89,000 loss in 1997. For the six months' period, cumulative net loss was $49,000 compared to a $238,000 loss for the comparable period last year.
"We are pleased with our progress," announced Gary Borglund, President of Nortech, "and we have good expectations for the remainder of the year. Our best sales typically fall in the third and fourth quarters. We expect to end the year profitably."
Nortech manufactures and distributes its own trademark deer repellent, Tree Guard(R), throughout the United States. It is also completing the approval process necessary for marketing the product internationally, particularly to Canada and Western Europe.
The Company reports upscale gardeners are discovering Tree Guard through magazines such as Taunton's Fine Gardening. Credit card sales have been growing dramatically the last two months.
Mr. Borglund also noted, "We are aggressively pursuing potential acquisitions or mergers. By so doing, we will improve marketing and distribution economies of scale and generate greater sales and earnings."
This press release contains forward-looking statements with respect to the results of operations and business of the Company that involve risk and uncertainties. The Company's actual future results could materially differ from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and exchange Commission.
SOURCE Nortech Forest Technologies, Inc.
-0- 8/27/98 /CONTACT: Calvin E. Blanchard of Nortech Forest Technologies, 612-922-2520, fax 612-922-3865/
/Web site: nortechforest.com (NRTC) CO: Nortech Forest Technologies, Inc. ST: Minnesota IN: PAP SU: ERN
(27 Aug 1998 12:51 EDT)
Regards,
Rick |
