Green Innovations Subsidiary Signs Exclusive Manufacturing and Distribution Agreement with Xiamen C&D Paper & Pulp
MIAMI, March 18, 2013 /PRNewswire/ -- Green Innovations Ltd. (OTCQB: GNIN) (OTCBB: GNIN) ("Green Innovations" or the "Company") is pleased to announce that its wholly-owned subsidiary, Green Hygienics, Inc. ("Green Hygienics" or "GHI"), has executed an exclusive contract (the "Contract") with Xiamen C&D Paper & Pulp Co., Ltd. ("C&D"), a subsidiary of Xiamen C&D, Inc., of Fujian, China. Terms and certain binding conditions contained in the Contract call for C&D to produce and manufacture bath tissue, kitchen towels, napkin products, facial tissue, diapers, and other products for GHI for exclusive sales to the retail market in the United States, Canada, and Mexico. C&D will produce the products under the GHI "Sensational" brand and all private labels sold to the retail market by GHI.
"This agreement will allow us to market and distribute some of C&D highest volume recycled and 100% bamboo paper products across North America on an exclusive basis - the opportunity is enormous," commented Bruce Harmon, CEO of Green Innovations. "C&D's long established reputation, wide selection of high quality products, and enormous manufacturing capacity should open up many new opportunities for GHI to establish large scale distribution and retail sales channels for its own Sensational branded products and for the development of any potential third party private label brands."
Based on discussions with C&D representatives, the Company expects that new C&D product packaging and sales samples will be available for the North American marketplace within the next 30-60 days, at which time GHI will launch expanded marketing initiatives with potential retailers and distributors.
Founded in 1992, Xiamen C&D Paper & Pulp Co., Ltd., a sole subsidiary of Xiamen C&D Inc., (Shanghai Stock Exchange - 600153), has since developed into the largest paper supplier in China. C&D is dedicated to supply high quality packing papers, and a variety of finished products with regular paper pulp and bamboo pulp. C&D currently supplies high quality paper to over 3500 commercial printers in China. In 2010, C&D sales volume was 800,000 tons of paper and 800,000 tons of paper pulp. The C&D parent company has total assets in excess of $8.3 billion and revenue (2011) in excess of $12.8 billion. In 2012, Xiamen C&D Inc. was listed among China's Top 500 (#57 in 2012) listed companies. In 2010, Xiamen C&D Inc. was listed in China's Top 100 Investment-Worthy Public Companies and China's Top 100 Most Competitive Public Companies. C&D is FSC Certified by the Forest Stewardship Council. For more information concerning Xiamen C&D Paper & Pulp Co., Ltd, visit www.cndpaper.com/web/cndpaper_en/home.
About Green Innovations Ltd.
Green Innovations Ltd., through its wholly-owned subsidiary Green Hygienics, Inc., is the exclusive licensed North American distributor of American Hygienics Corporation's 100% tree-free bamboo-based product line, including personal care and paper-based goods. The Company provides consumers the opportunity to enjoy high-quality and performance eco-friendly goods from dedicated experts that have been producing bamboo products for over a decade, along with the cost-benefit of local raw material manufacturing, and the satisfaction of knowing that by using these products they are doing their part to reduce their carbon footprint and to continue the movement towards a more healthy and sustainable planet.
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This press release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, and specifically the ability of the Company to complete negotiations and close a definitive agreement to become the exclusive North American representative and wholesaler for Xiamen C&D Paper & Pulp Co., Ltd.'s products. The reader can identify these forward-looking statements by forward-looking words such as "may," "will," "expect," "potential," "anticipate," "forecast," "believe," "estimate," "project," "plan," "continue" or similar words. The reader should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. Forward-looking statements include, but are not limited to, statements regarding potential products, customers, revenues, expansion efforts, and future plans and objectives of Green Innovations Ltd. ("Green Innovations"). The risk factors listed in our disclosure documents and the cautionary language on this website provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by Green Innovations in its forward-looking statements. Actual results relating to, among other things, product launch, sales, customer acceptance and market share could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: consumer preferences, competition from more established brands, ability to develop market share; changes in the operating costs; changes in economic conditions, foreign exchange and other financial markets; changes of the interest rates on borrowings; hedging activities that Green Innovations develops or produces; changes in the investments levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Green Innovations operates; technological, mechanical and operational difficulties encountered in connection with Green Innovations' development activities; and labor relation matters and costs. The reader should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Green Innovations from time to time with the Securities and Exchange Commission and other regulatory authorities.
SOURCE Green Innovations Ltd.