NEW YORK, Nov. 15, 2010 /PRNewswire/ -- Safetek
International, Inc. (Pink Sheets: SFIN)
(www.safetekinternational.com) an incubator of and investor in
green technology and Eco-Friendly start-up companies, announced
today that its subsidiary Newave Packaging Inc.
(www.newavepackaging.com) has opened a second distribution facility
in New York, to handle the
expected high volume demand for its rolls of ewrap™ food
film.
Newave Packaging received a significant Purchase Order from a
Distributor in New York, for a variety of sizes of the
environmentally friendly non-PVC cutter boxes containing the
ewrap™ food film. The Distributor supplies a wide range of
stores in the New York
Metropolitan area, and will be inviting Restaurants, Deli's and
Bodega's to among the first to receive and convert to Newave
Packaging's environmentally friendly stretch, cling and breathable
ewrap™ food film.
An agreement is also being prepared for the Distributor to be
granted distribution rights for the New
York Metropolitan area. Subject to agreement, the
Distributor estimates to order a minimum quantity of six (6) x 40
foot container loads of ewrap™ food film cutter boxes over
the next 12 months. The estimated value on an annualized basis of
this Distributor's commitment would earn revenues for Newave
Packaging of approximately $600,000 to
$700,000.
Commenting on this order Dr. Fredrik
Verkroost, President of Newave Packaging Inc. said "this
commitment shows that the conversion from PVC to non-PVC products
for food packaging is accelerating. Our plans are to gain further
commitments from selected regional distributors under an annual
distribution agreement, initially along the Eastern States and
Eastern Canada."
Shmuel Shneibalg, President of
Safetek International, added "we are now starting to offer a
regular supply of food film to the retail market, and are adding
additional resources to expand the supply products."
About Safetek International Inc.
Safetek International Inc. is a holding company formed to
identify, develop and manage business projects that show
significant growth potential, including new green technologies and
other Eco-Friendly sectors. The Company has recently acquired
Newave Packaging Inc. as part of its restructuring program to take
advantage of innovation and their application to 'green'
initiatives, especially for the non-toxic food film market. In
addition to identifying, developing and managing business projects
that show significant growth potential, Safetek helps its'
portfolio companies find individuals experienced in management to
take companies from idea/development to profitable operation.
About Newave Packaging Inc.
(www.newavepackaging.com)
Newave Packaging Inc. supplies some of most ECO friendly
non-toxic and bio-degradable film products and cutter boxes for the
$1bn+ packaging industry, especially food packaging, which is still
dominated by PVC products. All its products are tested and
certified to conform to new environmental legislation. Newave
Packaging now distributes throughout North and South America and will soon supply other
countries worldwide.
Forward-Looking Statements
This press release may include forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements are based on the Company's current expectations as to
future events. However, the forward-looking events and
circumstances discussed in this press release might not occur, and
actual results could differ materially from those anticipated or
implied in the forward-looking statements.
Investor Relations
Contact:
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Roland Rick Perry
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Shmuel Shneibalg
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Institutional Analyst
Inc.
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Safetek International
Inc.
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Email: roland@internetstockreview.com
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Tel: 347-772-1706
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Tel: 310-594-8062
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SOURCE Safetek International, Inc.