Prime Star Group's Intela-Pac Signs $2.5M Agreement
15 März 2010 - 8:52PM
Marketwired
Prime Star Group, Inc. (OTCBB: PSGI) wholly owned subsidiary,
Intela-Pac, is pleased to announce that it has entered into an
agreement for its proprietary packaging machinery and related
equipment. This agreement will provide the Intela-Pac business unit
with recurring annual revenue of approximately $2.5M.
David Maldonado, President of Isla Nena Direct Distributors and
Manufacturing stated, "I am proud to announce this relationship. We
have long sought the opportunity to locally manufacture and package
water and beverages for the Latin American market. Our new
operation provides the ability to expand our operation as well as
create new industry in Vieques which at the present time has little
industry. The local government is supportive of this endeavor and
we are all excited and looking forward to the positive economic
impact."
Additionally, Isla Nena Direct Distributors and Manufacturing
will be moving its operation to a larger facility located on State
Road 200, KM 3.1, Vieques, Puerto Rico 00765. The new location
provides an added 10,000 sq ft. of factory space and will be
employing approximately 25 men and women. The company has also
leased an additional 23,000 sq ft. of space for product storage and
improved logistical capabilities.
Roger Mohlman, President of Prime Star Group, stated, "We are
excited to be part of Isla Nena's strategic expansion and look
forward to a partnership that will benefit both parties and provide
an opportunity to distribute all of Prime Star Groups products
throughout the Caribbean."
About Prime Star Group
Prime Star Group, Inc. is a holding company that focuses on four
areas of business: SmartPax™ Packaging, Premium Food & Beverage
Products, Distribution, and Risk Management. The company's
operating subsidiaries produce, market, and distribute wines, tea,
adult mixed beverages, flavored water, and gourmet seafood
products. The company also produces co-brand and co-pack existing
high-end beverages and private label liquors for large hospitality
and entertainment brands. Prime Star is focused on the food and
beverage, entertainment, hospitality, healthcare and disaster
relief industries.
Forward Looking Statements - Safe
Harbor
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Prime Star Group, Inc., its directors or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may," "would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Prime Star Group, Inc.'s
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors. More information about the potential factors
that could affect the business and financial results is and will be
included in Prime Star Group, Inc.'s filings with the Securities
and Exchange Commission.
Contact: Prime Star Group, Inc. Public Relations Dan Schall
(858) 240-7873 or on the Web at http://www.primestargroup.net/
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