Industry News

VitroTech Corporation Announces Strategic Partnership in China

Published on 2004-09-30. Author : SpecialChem

SANTA ANA, Calif. -- VitroTech Corporation announced the formation of a strategic partnership with Plastic Enhancement Technology Limited of Hong Kong.

The strategic partnership was formed to develop the Hong Kong, Macao and Canton plastic markets in China for Vitrolite®.

About Plastic Enhancement Technology Limited

Plastic Enhancement Technology Limited ("PET") was founded in 2004 by the partners in one of the world's largest manufacturers of optical media, specifically for the exploitation of Vitrolite®. VitroTech CEO, Glenn Easterbrook, said, "We are excited to partner with such experienced players in the Chinese plastics industry and expect the relationship to grow quickly as sales develop during their 90 day market assessment."

VitroTech has shipped 40,000 pounds of Vitrolite® to PET's warehouse in China. PET will pay freight charges for the initial container and pay for material, technical support and training as it is used. In addition, PET has set up a sales organization specifically to sell Vitrolite®. Technical training and support are only expected to be required during the first six months of the strategic partnership after which PET expects to have their own technical staff in place.

About VitroTech Corporation

VitroTech Corporation is a materials technology and research company, headquartered in Santa Ana, California, with rights to purchase, process and sell approximately 35 billion pounds of rare amorphous aluminosilicate deposits which are used to produce its primary products, Vitrolite® and Vitrocote®. These products enhance both the physical qualities and production of plastics, paint/coatings, and a variety of other market segments.

Forward-Looking Statements

This news release contains forward-looking statements, which are based on current operations, plans and expectations. Such statements include, but are not limited to, the company's ability to increase product sales to or through PET and its joint ventures, strategic partnerships and affiliates, and to grow sales generally. Actual results may differ materially from these statements due to risks and uncertainties beyond the company's control, including, but not limited to, acceptance of our products by PET and its joint ventures, strategic partnerships and affiliates, level of commitment of resources by PET to manufacture with our products, competitive product offerings distributed by PET and others, budgetary constraints of clients of and its joint ventures, strategic partnerships and affiliates and other factors that could adversely affect the amount, timing and pricing of our products sold under our relationship with PET. For further information regarding risks and uncertainties associated with VitroTech's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors That May Affect Future Results" sections of VitroTech's SEC filings, including, but not limited to, its annual report on Form 10-KSB and quarterly reports on Form 10-QSB. All information in this release is as of September 27, 2004. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Source: VitroTech Corporation

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