Sincerity Applied Materials Holding Corp (OTC Pink: SINC) announced today that through its wholly owned subsidiary, Sincerity Australia Pty Ltd. ("SAPL"), based in Melbourne, Australia, it is currently involved in several project development initiatives with a number of larger resellers and end users, including Visy Industries. Visy Industries trades as Pratt Group America in the USA and is one of the world's largest packaging and recycling groups.
Sincerity Australia Pty Ltd. ("SAPL") has refocused its marketing efforts with a select number of prominent packaging resellers and distributors to expand its sales and distribution platform to the USA and Europe as well as key Asian centres. SAPL is in the process of building strong relationships with key industry players who acquire its products for their own distribution and reseller networks. Research and investment in addressing the key fresh food issue of plastic film 'breathability' has created a unique technology platform whereby air circulation in packaged foods can be adjusted according to the type of food. This has the effect of prolonging shelf life, key to building relationship metrics within the food retailing industry.
SAPL recently commenced supplying Visy Industries, with high specification, breathable plastic film which has specific application in the storage and transportation of fresh food. This product has enormous significance in extension of product shelf life and can be utilized by supermarket retailers such as Woolworths Group, one of two dominant players in Australia's supermarket industry and a significant customer of Visy.
In conjunction with its existing key customer platform, Sincerity now has supply relationships with most major supermarket companies in Australia. Additionally, the entry of the global retailing giant Amazon into Australia earlier in 2018 will provide significant opportunities to support key customers in building the Amazon retailing brand. "The DNA of Sincerity has always been research and development of polymer technology applications," commented James Zhang, Chairman & CEO. "Our business has always been driven by the continuous innovation of technology to produce more durable, robust, cost effective and custom designed products for our customers."
"For example," Mr. Zhang continued, "the specifications laid out to us by Visy for a more durable ventilated (breathable) stretch film sponsored our development of a cutting edge production technology which enables us to produce a plastic film with adjustable ventilation and very high stretch tolerance characteristics. This new product has extensive applications in the food and transport sectors and will be a significant element of our US expansion strategy. Sincerity is one of only 2 manufacturers of this type of film in China.
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 9,500 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.
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