Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Witold who wrote (4791)	7/22/1999 10:11:00 PM
From: SSP	Respond to of 150070

Nutek Inc. Announces Revenues and New Product Launch LAKE FOREST, Calif.--(BUSINESS WIRE)--May 27, 1999--Nutek Inc., (OTC BB: NUTK - news), a holding company, Thursday announced the launch of their newest subsidiary, Century Clocks Inc. To establish this new company, Murray N. Conradie, president/chief executive officer of Nutek has successfully negotiated and secured 21 different molds to begin the manufacturing. Production is expected to begin in late July, with distribution coming in August. These clocks will be made and assembled in the United States using veterans as the primary source of the workforce. Conradie has been involved in negotiations with the National Department of Veterans Affairs, and has finalized a working agreement with the National Marketing Director of Veterans Industries, Charles McGeough. The working agreement established by Nutek and Veterans Industries, a vocational rehabilitation program of the Department of Veterans Affairs, will give untold employment opportunities to U.S. Veterans, well into the new millennium. It also benefits the new manufacturing and fulfillment programs being established for the distribution of Nutek products. Conradie has expressed his great pleasure in finalizing this arrangement, as Century Clocks will be the first stage in establishing Nutek, in the development of a structure for the rehabilitation of this nation's veterans back into the workforce. This arrangement will also go a long way in giving former fighting men and women of this nation a new opportunity to reestablish their personal values and contributions to society. Conradie was formerly CEO of Century Clocks in South Africa, where he manufactured and distributed clocks over a six year period, growing Century to a multi-million dollar company. During his first 18 months of doing business there, he was able to capture 85% of the South African clock market. Now, he says, ''If we can only capture 1% of the American Market initially and have 4% of the market within 3 years we should generate accumulated revenues in excess of $30 million during this period.'' Safe harbor forward-looking statements: Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand, market competition, risks inherent in the company's international operations. -------------------------------------------------------------------------------- Contact: Nutek Inc., Lake Forest Richard Overdorf, 949/587-9400 Fax: 949/587-9534 Email: investors@nutk.com --------------------------------------------------------------------------------