Innovative Composites Provides Business Update
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/24/12 -- Innovative Composites International Inc. ("ICI" or the "Company"), (TSX VENTURE: IC)(OTCQX: ICIZF), a producer of proprietary engineered composite products, is pleased to provide a business update with respect to certain previous announcements and current initiatives.
Current Initiatives
"ICI is continuing with the implementation of a multi-pronged strategy to extinguish the operating burn rate and become cash-flow positive during this fiscal year," said Terry Ball, President and CEO of ICI. "We are focussing on business segments with a shorter sales cycle, such as industrial applications and shelters and containers, and we view fire retardants as another high-potential business segment. In addition, we remain in pursuit of longer sales cycle housing opportunities, both internationally, and in North America, and we are at various stages of business development in this area on a number of projects. We are very pleased to have added Jim Loran as our new Vice President, Business Development. Jim has a long record of success in sales and marketing, particularly in the launch and commercialization of products, and he will be instrumental in the execution of our short and long term strategy. We are committed to managing our cash resources in a manner that will allow us to continue our operations and undertake business development activities beyond the end of the 2013 fiscal year."
Update of Certain Previous Announcements
At the request of the TSX Venture Exchange, the Company is providing updates on certain previous announcements as follows:
About Innovative Composites International Inc.
Headquartered in Toronto, Canada, Innovative Composites International Inc. (TSX VENTURE: IC)(OTCQX: ICIZF) is a high-tech engineering and manufacturing company whose goal is to utilize its proprietary "green" composite materials and building systems to provide innovative, engineered product solutions to markets that include prefabricated modular housing, shelters and containers, and industrial applications.
To find out more about ICI please visit our website at: .
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Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in its target markets, the demand for ICI's products and the availability of funding. These forward-looking statements are made as of the date hereof and ICI does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from ICI's expectations and projections.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Innovative Composites International Inc.
Sam Greiss
Chief Financial Officer
(416) 646 0754
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Datum: 24.12.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 1183088
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Kategorie:
Waste Management
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