VENTURA, Calif., June 9, 2010 (GLOBE NEWSWIRE) -- SGD Holdings, Ltd. (Pink Sheets:SGDH), owner of the premier environmentally friendly paper manufacturer EcoPaper, today announced that the company has successfully concluded due diligence and finalized a contract to acquire the assets of EcoFriends, a Mexico-based paper product sales and distribution company. The company is in the final phases of completing requirements for incorporating EcoFriends as the second of the company's subsidiaries.
SGD Holdings, EcoPaper Inc, and EcoFriends are currently undergoing audits by PCAOB- compliant auditors to ensure full disclosure and reporting are forthcoming. SGD Holdings will release additional details as they become available.
"This acquisition is yet another exciting step in our company's pursuit of strategic expansion", said Harry Johansing, CEO of SGD Holdings, Ltd. Harry continues, "EcoPaper represented our first successful step towards developing a succinct strategy for long-term growth. Acquiring EcoFriends represents another significant step in our path towards confirming our position as an industry leader and illustrates our commitment to serving the best interests of our investors, and the environment as a whole."
About SGD Holdings, Ltd.
SGD Holdings, Ltd. (Pink Sheets:SGDH) is a holding company which owns and operates through its wholly-owned subsidiary, EcoPaper, Inc. (http://www.ecopaper.com/). Through internal research and development, as well as through acquisition, the company aspires to create and acquire new technologies, products, and methodologies which have the potential to positively impact the environment. For more information regarding SGD Holding, Ltd, e-mail ir@ecopaper.com
About EcoPaper, Inc.
After developing an innovative and an economically feasible option for removing a portion of the more than 230,000 tons of agro-industrial waste generated annually by Costa Rica alone, EcoPaper, Inc. became among the first companies worldwide to create and implement processes for manufacturing and bringing to market tree-free, eco-friendly, beautiful, sustainable paper products of superior quality created from exotic tropical fibers. Founded by Harry Johansing, EcoPaper is proud that every sheet of EcoPaper product is smooth, acid-free, durable, chemical-free, and caringly manufactured. For more information regarding EcoPaper, Inc. visit www.EcoPaper.com.
Forward-Looking Statement: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in plans and schedules, or market acceptance. SGD Holdings, Ltd undertakes no duty to update these forward-looking statements.