NEW YORK, Aug. 24, 2006 (PRIMEZONE) -- B&D Foods Corporation (OTCBB:BDFC) announced today that one of the largest producers of freeze dried coffee in Brazil signed a contract with the Company. The Company will manufacture up to fifty tons per month of extract for its new customer's freeze dried coffee products. Contract revenues will be realized immediately and will represent 11% ($750,000) of planned revenue for the coming twelve months.
B&D Foods Corp. recently purchased a factory strategically located near the two largest ports in Brazil, an area that provides year round supplies of green coffee beans. The factory has a production capacity of 9,600 tons of roasted coffee, 3,600 tons of agglomerated coffee, and 3,200 tons of coffee mixes. The Company is executing on its business plan to turn the factory into a major roasting producer of coffee beans both for its in-house brands and third party brands.
Yaron Arbell, CEO of B&D Foods Corp, said, "This is the second major contract we have secured over the last thirty days. After a careful review of our facilities, our manufacturing capabilities and our management team, we were chosen to manufacture an important extract for their freeze dried coffee products."
He added, "RedChip recently issued research on our Company with a twelve month target price of $1.32. Investors have an opportunity to accumulate BDFC stock at sufficiently low levels when we are beginning to build our business for substantial future growth."
About B&D Foods Corporation:
B&D Food Corporation engages in the ownership and operations of coffee manufacturing facilities in Brazil. It produces various kinds of coffee, including roasted green coffee, instant coffee, and several mixtures of coffee and tea for its two in-house brands, as well as third party brands. B&D acquires, organizes, develops and upgrades companies in the food and coffee industries.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Any statements that are not historical facts contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions, and other factors discussed from time to time in B&D Foods Corporation Securities and Exchange Commission filings. B&D Foods Corporation undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made