NEWPORT BEACH, Calif., July 17, 2006 (PRIMEZONE) -- International Food Products Group (OTCBB:IFDG) Chairman/CEO Mr. Richard Damion today confirmed that IFPG has delivered its first in a series of orders of high-demand cheese products to a major institutional customer. The order, for over $200,000, was shipped mid-June and it is anticipated that IFPG will have recurring monthly orders building to $500,000 to a $1 million to the industrial and food services sectors. Shipment of an additional $250,000 in orders is expected to be completed by the end of July 2006. Commenting, Mr. Damion said, "We are extremely pleased that after months of fine tuning, this program is now underway, with a first shipment delivered. We have partnered with one of the most innovative cheese processing companies, Coachella Valley Edibles; this alliance is a major opportunity for IFPG. We anticipate annualized cheese sales of $10 to $15 million and are currently evaluating the viability of expanding our market and exporting to Mexico and Asia."
The US is the largest supplier of cheese in the world, producing more than 4 million metric tons a year, accounting for sales of more than $75 billion. Damion concluded, "I anticipate that through our relationship with CVE, additional opportunities exist for significant distribution to the international marketplace. Cheese sales are forecasted to grow by an additional 17% by 2009. Clearly we have entered this category at an extremely opportune time and intend to take full advantage. This, coupled with our soon to be announced Golden Choice Foods(r) bakery products line placements, should result in a significant increase in value for our shareholders."
About International Food Products Group, Inc: IFPG is a public company trading on the OTCBB with the ticker symbol "IFDG." The Corporate Offices are at 170 Newport Center Drive, Newport Beach, CA, 92660. www.goldenchoice.com. IFPG is the manufacturer and marketer of a variety of food products including: Golden Choice 100% Colombian Roasted Coffees, Golden Choice Organic Harvest(tm) and Supreme Harvest(tm) lines of Frozen Fruits and Vegetables, and 100% Fresh Squeezed Pure Fruit Juices. Other products include: "Got Fries(r)," Just Popped(tm), and other fine domestic and imported food products.
Safe Harbor Disclaimer: Certain statements contained herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Such statements include, without limitation, statements regarding business and financing plans, business trends and future operating revenues and expenses. Although the Company believes that the expectations reflected in such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate and similar expressions, or which by their nature refer to future events. You should independently investigate and fully understand all risks before investing. These descriptions of the Company contain forward-looking statements that involve risk and uncertainties including, but not limited to, quarterly fluctuations and results, the management of growth, competition and other risks detailed in the company's SEC filings if any. Actual results may differ materially from such information set forth herein.