Sincerity Applied Materials Holding Corp (OTC Pink: SINC) announced today plans to enter the United States.
Presently over 90% of SAPL's revenue is derived from sales within the Australian market. However, due to the strong international presence of SAPL's major customers such as Visy Industries, particularly in the U.S., combined with the advanced technological metrics of SAPL's product range (breathable stretch film and antibacterial polymer products), it is expected that SAPL's products will be increasingly utilized in global markets.
"The expansion into the largest consumer market in the world is beneficial for our company. A global customer reach will expand and diversify our revenue base," stated Chairman and CEO James Zhang.
"SAPL will continue with the process of further vertical integration of its product range," Mr Zhang continued, "Value adding packaging technology, such as breathable film and ventilated stretch film is expected to provide an innovative edge over our competition. Rapid growth in demand for fresh fruit and vegetable packaging and transportation is already reflected through increasing sales to Visy Industries and will allow SAPL to transition these new products to the global market."
Visy Industries was established in Melbourne, Australia in 1948 and has since grown to become one of the world's largest privately owned paper, packaging andrecycling companies. Today, Visy employs more than 9500 people in Australiaand the United States (where it is known as Pratt Industries USA), with total sales exceeding more than $5 billion. Visy operates in over 120 sites throughout Australasia and has trading offices across Asia and Europe.
Forward-Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Contact Information:
Brokers and Analysts:
Chesapeake Group
+410-825-3930
