NEW YORK, MONTREAL, oct. 18 /PRNewswire/ - ICBS Ltd. (OTCPK: ICBT), announced today that the board of directors has approved the purchase of Gold Leaf Consultants Inc., which owns cosmetic and industrial formulas.
Its product portfolio includes skin care cosmetics, colour cosmetics, fragrances, personal & hair care cosmetics and wellness products. Skin Care, makeup, and body and hair products. Its skin care products include facial cleansers, cleansing creams, packs, toners, emulsions, essences, sun block creams and others. The body and hair products consist of body cleansers, body , shampoos and other related products. The product line includes both women and men's personal care lines.
The company also owns industrial formulas for such products as rain repellents and industrial cleaners.
ICBS will be introducing these products under a new marketing and distribution company . The new company is expected to be operational by February 2011.
" We believe this asset purchase will allow us to take advantage of a large emerging Asian market" said Garth McIntosh, President & CEO of ICBS Limited.," The company will be targeting China as its first market place. We will be evaluating the most promising product lines over the next few months and introducing a new website which will also allow on line purchasing of the cosmetics. Manufacturing will initially take place in Canada which will allow the new company to take advantage of the many Canadian Government grants available to manufacturing corporations. These grants and financial packages will underwrite the companies financial expenditures."
US cosmetic and toiletry chemical demand will grow 5.4 percent annually through 2010. An aging and increasingly ethnically diverse population along with consumer desires to offset the effects of aging and preferences for "natural" products will drive demand. Active and plant-derived ingredients will benefit the most from these factors. The U.S cosmetic and toiletry chemical industry is a $5.9 billion market .
Legal Notice Regarding Forward-Looking Statements:
Safe Harbour: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbour created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of ICBS Limited, to be materially different from the statements made herein.
SOURCE Inter Canadian Business Service