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RT American Fire Retardant Corp.`s American Safety Products Announces Major GloveBox Development
May 18, 2004 09:15:00 (ET)
SAN DIEGO, May 18, 2004 (BUSINESS WIRE) -- American Fire Retardant Corp. (AFRT, Trade) announced today that AFRC and their American Safety Products division are in negotiations with PolyBrite International, a Goeken Group Company, and Westinghouse Lighting Corporation, who approached the company with a development and branding agreement early last month.
PolyBrite International is a wholly owned subsidiary of the Goeken Group, founded by John D. (Jack) Goeken, Chairman and CEO. Mr. Goeken is one of the country's most successful entrepreneurs, having built a reputation for founding successful companies. Those companies include MCI, FTD Mercury Network, Airfone, In-Flight Phone and Westinghouse Lighting Corporation. Westinghouse is a leading manufacturer and marketer of more than 5,000 products, including electrical products, light bulbs, lighting fixtures and ceiling fans and whose brand is recognized worldwide.
James Wheeler, Sales and Marketing Director of AFRC, said, "The management team for PolyBrite have expressed interest in contributing to areas of continuing development and also in marketing the GloveBox to their broad distribution network including food service, hospitality and convenience stores. AFRC and ASP anticipate final negotiations to conclude early next month and expect the new agreement with PolyBrite International and Westinghouse Lighting Corporation will help more effectively take the GloveBox to the global marketplace."
About American Fire Retardant Corp.
American Fire Retardant Corp. (AFRT, Trade),
www.americanfireretardant.com, is in the business of developing, manufacturing and marketing a line of interior and exterior fire retardant products. American Fire Retardant Corp. also designs new technology for future fire resistive applications that are being mandated by local, state and governmental agencies. Additionally, the company is active in the construction industry as sub-contractors for fire stop and fire film installations.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.
SOURCE: American Fire Retardant Corp.
