FORT LAUDERDALE, Fla.,
Aug. 3, 2020 /PRNewswire/ -- Ocean
Bio-Chem, Inc. (NASDAQ: OBCI) announced today that its subsidiary,
Kinpak Inc., has commissioned a third production line for the
manufacturing of its disinfectant/sanitizer product group
Performacide®. Performacide® is an
EPA-registered disinfectant that kills the SARS-CoV-2 virus, the
cause of COVID-19, on hard surfaces.
Peter Dornau, President and CEO
commented: "With the third production line fully operational
we anticipate increased sales of Performacide® in the
third quarter compared to the second quarter of 2020.
The increased capacity will help us fulfill the backlog of
orders and go after additional new sales opportunities. Since the
beginning of the year the Company has tripled its manufacturing
capabilities of Performacide® to meet sales
demands."
Mr. Dornau concluded: "The working capital of our Company
continues to be strong. Furthermore, the funding of the
manufacturing expansion has already been provided with the
Company's 2017 Industrial Development Bond proceeds."
About the product: PERFORMACIDE® is a point-of-use,
Chlorine Dioxide (ClO2) generating pouch system. When
the patented pouch is immersed in water, it creates an
EPA-registered solution that is approved for use on emerging
viruses, including SARS-CoV-2. PERFORMACIDE® is a
pharmaceutical-grade disinfectant, sanitizer, tuberculocide,
virucide, fungicide and deodorizer.
About Ocean Bio-Chem, Inc.
Ocean Bio-Chem, Inc. manufactures, markets and distributes a
broad line of appearance and maintenance products for the marine,
automotive, power sports, recreational vehicle and outdoor power
equipment markets under the brand names Star brite®,
Star Tron®,
Performacide® and OdorStar® within
the United States and Canada. In addition, the Company
produces private label formulations of many of its products for
various customers and provides custom blending and packaging
services for these and other products.
The Company's web sites are: www.oceanbiochem.com,
www.starbrite.com, www.startron.com and www.performacide.com
Forward-looking Statements:
Certain statements contained in this Press Release, including
without limitation, our sales projections of
Performacide® in the third quarter of 2020, increased
production of Performacide® and continued strong order
pace constitute forward-looking statements. For this purpose,
any statements contained in this report that are not statements of
historical fact may be deemed to be forward-looking statements.
Without limiting the generality of the foregoing, words such as
"believe," "may," "will," "expect," "anticipate," "intend," or
"could," including the negative or other variations thereof or
comparable terminology, are intended to identify forward-looking
statements. These statements involve known and unknown risks,
uncertainties and other factors which may cause actual results to
be materially different from those expressed or implied by such
forward-looking statements. Factors that may affect these results
include, but are not limited to, the highly competitive nature of
our industry; reliance on certain key customers; changes in
consumer demand for marine, recreational vehicle and automotive
products; advertising and promotional efforts; exposure to market
risks relating to changes in interest rates, foreign exchange
rates, prices for raw materials that are petroleum or chemical
based and other factors addressed in Part I, Item 1A ("Risk
Factors") in our annual report on Form 10-K for the year ended
December 31, 2019.
Contact:
Peter Dornau
CEO & President
pdornau@starbrite.com
954-587-6280
Jeff Barocas
CFO & Vice President
jbaroocas@starbrite.com
954-587-6280
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SOURCE Ocean Bio-Chem, Inc.