AGR Announces Engagement Letter with Robert Capetola

Mar 22, 2011, 13:26 ET from AGR Tools, Inc.

CONROE, TX, March 22 /PRNewswire-FirstCall/ - AGR Tools, Inc. (OTCQBB: AGRT) is pleased to announce that it has entered into an engagement letter with Robert J. Capetola regarding Mr. Capetola's appointment as the company's new Chief Executive Officer and a member of its Board of Directors.

Mr. Capetola is an accomplished businessman who, after a distinguished career as a senior executive with Johnson & Johnson Inc., successfully created two small cap public companies and raised in excess of $300 million for these biotech sector entities. Concurrent with the start of Mr. Capetola's engagement with AGR, Rock Rutherford will resign as the Chief Executive Officer of the company and become the Executive Chairman of its Board of Directors.

"We are very excited that Mr. Capetola has agreed to join AGR's management team and become the driving force behind our growth. He is an accomplished executive with the experience to take our company to the levels that we expect to achieve," commented Mr. Rutherford.

The exact date on which Mr. Capetola will occupy his new roles is contingent upon the signing of a formal employment agreement, with terms and conditions satisfactory to both AGR and Mr. Capetola.

About AGR Tools, Inc.

AGR Tools, Inc. is a public company with its common stock quoted on the OTCQB under the symbol AGRT, and the Berlin and Stuttgart Stock Exchanges under the symbol LVSA.  Its wholly owned subsidiary, AGR Stone & Tools USA, Inc. ("AGR USA"), is a contract manufacturer and distributor of tooling and accessories to the construction, building maintenance and demolition industries in the United States and Canada.  AGR USA supplies more than 700 products through its stocking dealership network and website, including diamond based tools and adhesives, and it specializes in producing consumable tooling for the natural stone, engineered stone, concrete and masonry industries. Its goal is to provide its clients with superior quality products, excellent customer service and the most competitive prices in the diamond tooling industry.  AGR USA has conducted extensive research and testing of its products, and uses the latest technologies to assure it is at the forefront of the diamond tooling industry.

More information on AGR and AGR USA can be found at: www.agrtools.com

Forward-Looking Statements:

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See AGR Tools, Inc.'s filings with the United States Securities and Exchange Commission which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.


SOURCE AGR Tools, Inc.