DECATURVILLE, Tenn., Nov. 19, 2004 (PRIMEZONE) -- US BioTec, Inc. (Pink Sheets:USBO), an emerging player in the rapidly growing bio-chemical sector of the multi-billion dollar agri-business industry, today announced its plans for the launch of its initial line of agricultural biotechnology for 2005. Among the first products to be sold commercially by the company will be two products specifically aimed at cotton production.
The products scheduled for launch by US BioTec during the first quarter of 2005 are all biochemical solutions that address widespread problems in the commercial agriculture industry. The first wave of products includes two different cotton-specific agents: Boll Up, which assists bud development in cotton on the lower vegetative limbs, encourages double fruiting, retards protein degradation in the leaf and builds stress resistance, and Cotton Guard, which promotes root and leaf development, increases metabolism, strengthens the plant's immune system, combats seedling disease and alleviates chilling damage to shoot growth, especially in the leaves.
"These first two products should be well received by cotton farmers who are already struggling with dramatically reduced market prices for their crops this year. With cotton prices down over a third from the same time last year, struggling farmers are desperately seeking ways to 'grow themselves back to profitability.' By using US BioTec's Boll Up and Cotton Guard products, cotton farmers should see higher yields from healthier, and more productive plants, thus translating into higher profits," says Jimmy Joyner, Chief Executive Officer of US BioTec, Inc.
According to the USDA's November Report on cotton, 22.5 million running bales of cotton are expected to be produced in the U.S. this year. Prices for cotton have dropped significantly since last year, falling off approximately 35% to about $.45 per pound versus $.70 per pound at the same time last year. According to the cotton industry organization, Cotton Incorporated, historic price patterns imply that prevailing world prices point to a decline in spring plantings of approximately 10%, suggesting dramatically lower production next year.
All of the products produced by US BioTec are all natural, bio-degradable alternatives to the toxic and sometimes carcinogenic agrichemicals that have been widely used by farmers for decades. The agrichemical market, which is measured in the tens of billions of dollars annually is controlled primarily by a handful of large multi-national corporations such as DuPont (NYSE:DD), Bayer (NYSE:BAY), BASF (NYSE:BF), Dow Chemical (NYSE:DOW) and Monsanto (NYSE:MON).
US BioTec consists of three separate biochemical divisions: Agriculture, Commercial and Retail. All of the products being launched in 2005 will come from the Company's agriculture division. In 2006, US BioTec plans to launch the first lawn and garden products from its Retail division. The next year, the company will begin offering products from its Commercial division that will be targeted for the commercial landscaping, turf farm and especially the golf course market.
US BioTec was established to profitably develop, manufacture, market and distribute bio-degradable, non-toxic and non-carcinogenic products to agriculture, the commercial turf industry, forestry, golf courses, professional landscapers, nurseries and mass market retail lawn and garden markets. USBO is striving to be the U.S. market leader in the expanding bio-chemical sector of the annual multi-billion dollar agricultural chemical marketplace. The Company's products are designed to rehabilitate soils, repel insects and increase crop (plant) yields through environmentally friendly alternatives to toxic man-made pesticides and caustic synthetic fertilizers. To learn more about US BioTec and its products, visit www.usbioteccorp.com.
Certain statements in this news release may contain "forward-looking" information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.