SGD Holdings, Ltd. Releases Preliminary 2010 Sales Figures for EcoFriend Group
March 03 2011 - 8:00AM
Marketwired
EcoFriend Group, a subsidiary of SGD Holdings, Ltd. (PINKSHEETS:
SGDH) today announced sales of $1,111,974 for the period of June
through December 31, 2010. Net profit during the period is reported
at $153,000.
SGD Holdings acquired EcoFriend Group in June of 2010. The
company attributes these robust figures to the growing strength and
popularity of EcoFriend Group's core brands which include Saldos,
Black and White, Univercity, Chic Royale and Natural Funk. The
company supplies to many of Mexico's most well known outlets
including Arteli, Hallmark, Chedraui, Super Kompras, Copavisa, and
Wal-Mart among others. Increasingly efficient operations and
distribution are also considered contributing factors to the
company's profitability.
"Our confidence in the performance of EcoFriend Group is well
founded," said Harry Johansing, CEO of SGD Holdings, Ltd. "The
brands are experiencing exceptional growth which is attributed to
management and distribution both operating at peak efficiency. We
anticipate that 2011 will experience even stronger growth in terms
of sales and income."
SGD Holdings is currently in the process of attaining "Tier 1"
bank financing in order to complete the Aclor acquisition.
"Initially we considered pursuing 504 financing methods in order
to complete this acquisition," said Harry Johansing, CEO of SGD
Holdings, Ltd. "However, our concern is that 504 financing may
dilute SGD Holdings' stock. Though Tier 1 financing takes longer to
acquire, we are confident that our acquisition of Aclor, Inc. will
be finalized in the very near future. This acquisition is the
culmination of our strategic plan for growth and we look forward to
completing this transaction to the mutual benefit of SGD Holdings,
stockholders and investors.
Aclor, Inc. is currently based in Atlanta, GA with manufacturing
plants and sales and distribution facilities located in Laredo,
Texas and Mexico.
About SGD Holdings, LTD. SGD Holdings,
LTD. (PINKSHEETS: SGDH) is a holding company which owns and
operates, through its wholly-owned subsidiary, EcoPaper, Inc.
(http://www.ecopaper.com.) and EcoFriend Group. Through internal
research and development, as well as through acquisition, the
company aspires to create and acquire new technologies, products
and methodologies which have the potential to positively impact the
environment. For more information regarding SGD Holdings, Ltd.
e-mail ir@ecopaper.com.
Forward-Looking Statements: The statements
in the press release that relate to the Company's expectations with
regard to the future impact on the Company's results from
acquisitions or actions in development, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The statements in this document may also
contain "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. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Forward-looking statements are subject to risks, uncertainties, and
other factors that could cause actual results to differ materially
from those contained in such statements. Such risks, uncertainties,
and factors include, but are not limited to, future capital needs,
changes and delays in plans and schedules, or market acceptance.
SGD Holdings, Ltd. undertakes no duty to update these
forward-looking statements.
SGD Holdings, Ltd. ir@ecopaper.com
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