VENTURA, Calif., July 8, 2010 (GLOBE NEWSWIRE) -- SGD Holdings, Ltd. (Pink Sheets:SGDH), owner of premier environmentally friendly paper manufacturer EcoPaper, today announced that the company has completed its acquisition of the assets of EcoFriends, a Mexico-based paper products sales and distribution company.
While SGD Holdings, EcoPaper, Inc. and EcoFriends remain in the final phases of completing PCAOB-compliant audits, Harry Johansing, CEO of SGD Holdings, Inc., has completed an extensive tour of EcoFriends' facilities and expresses extreme confidence in the efficiency, competency and long-term viability of the company.
"I'm incredibly optimistic about this acquisition," said Johansing. "EcoFriends proffers some of the strongest, most exciting industry brands in Latin America. In addition, the operations at EcoFriends are of the highest caliber and the management team has my utmost faith in their professional abilities."
Under the guidance of general manager Mercedes Torres, EcoFriends popular back-to-school- related brands currently include Aclor, Natural Funk, Body Glove, Chic Royale, UniverCity, Black&White and Tutti Colori. EcoFriends brand products are all manufactured from recycled materials and virgin pulp, keeping them in concert with SGD Holdings' and EcoPaper's commitment to manufacturing and distributing only sustainable, environmentally friendly merchandise.
EcoFriends brand products are available throughout Latin America at retailers such as Chedraui, Comercial Mexicana, Arteli, Cruz Azul, Palacio De Hierro, Sears, Suburbia, Sanborns and Wal-Mart subsidiary Pricho's.
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/">www.EcoPaper.com or ir@ecopaper.com.
Forward-Looking Statements: 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.