In Update to Shareholders, Seawright Holdings Inc. Says It Is Expanding Its Strategy to Sell Natural Spring Water and Becoming I

Date : 10/19/2007 @ 9:00AM
Source : PR Newswire (US)
Stock : (SWRI)
Quote : 0.00205  -0.00175 (-46.05%) @ 2:30PM

In Update to Shareholders, Seawright Holdings Inc. Says It Is Expanding Its Strategy to Sell Natural Spring Water and Becoming I

Seawright Holdings, Inc. (PN) (USOTC:SWRI)
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ALEXANDRIA, Va., Oct. 19 /PRNewswire-FirstCall/ -- Seawright Holdings, Inc. (OTC:SWRI) (BULLETIN BOARD: SWRI) today announced two new strategies to increase revenues for the Company and its shareholders, including selling excess water to major bottlers and becoming involved in the growing biofuels market. First, Seawright intends to sell excess capacity from the more than 300 million gallons per year of natural spring water produced at its property in Virginia's Shenandoah Valley to existing, high volume bottled spring water manufacturers who would benefit from Seawright's strategic location in order to produce and distribute their brands more cost effectively in the Mid-Atlantic market. Seawright expects to provide spring water to these manufacturers under long term supply contracts. Seawright completed several construction projects and equipment upgrades at its 144 acre property in preparation for business strategy. The volume of water produced by Seawright Springs would yield approximately 70 million cases of bottled water per year, translating to 1.6 billion 16.9 ounce bottles. The bottled water industry is a high growth, $14 billion market, with a significant portion located on the East Coast of the U.S. in close proximity to Seawright Springs, Joel Sens, CEO of Seawright Holdings, said that "environmentally protected sources of high volume, high quality natural spring water in close proximity to major markets are extremely rare and valuable." He stressed that "as fuel prices climb and producers become more environmentally conscious, the transportation component has a much larger impact on price sensitive commodities such as bottled spring water. Being in close proximity to major markets has significantly increased the value of our natural spring asset." Seawright has recently launched its own Seawright Springs brand bottled water in a distinctive package for the retail market. Seawright will continue to produce the "Seawright Springs Premium Natural Spring Water" brand. "We anticipate, however, that the bulk of our revenues will come from partnership arrangements with major bottlers who will buy the excess water capacity from Seawright Springs," Mr. Sens said. Seawright's second new strategy partners its existing business approach of owning and controlling important assets with the emerging biofuels industry. Seawright is negotiating to acquire commodity producing assets in the emerging biofuels market. Technological advances in biofuel production have given renewed life to historically underutilized commodities such as waste vegetable oils and animal byproducts for use as renewable automotive and home heating fuels. "This is an exciting and potentially high growth market place and consistent with our strategy to expand our commodity producing asset holdings," Mr. Sens said. Seawright is also in discussions to acquire an interest in a bio-diesel manufacturing plant that will be capable of producing up to 7 million gallons per year of high quality bio-diesel fuel. About Seawright Holdings, Inc.: Seawright Holdings, Inc. (OTC:SWRI) (BULLETIN BOARD: SWRI) is a company that acquires commodity producing assets whose value will increase over time. A significant asset owned by Seawright Holdings is Seawright Springs, a natural spring flowing some of America's purest drinking water. Seawright Springs is located in the beautiful Shenandoah Valley of Virginia on 144 acres of protected woodlands. The spring produces in excess of 1 million gallons of water a day and is one of the largest sources of natural spring water on the Eastern Seaboard. In 2003, Joel Sens formed Seawright Holdings, Inc. and purchased Seawright Springs to sell bottled water under the Seawright Springs brand as well as to sell excess capacity to major bottled water producers. Seawright is actively engaged in identifying and acquiring other high value commodity producing properties such as renewable biofuels. For more information, please visit http://www.seawrightsprings.com/ Information Regarding Forward-Looking Statements Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect Seawright Holdings' future plans. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Seawright Springs to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks detailed in Seawright Holdings' periodic report filings with the Securities and Exchange Commission. Seawright Holdings undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in Seawright Holdings' expectations. Contact: Paul Knopick E & E Communications 949/707-5365 DATASOURCE: Seawright Holdings, Inc. CONTACT: Paul Knopick of E & E Communications, +1-949-707-5365, , for Seawright Holdings, Inc. Web site: http://www.seawrightsprings.com/

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