BURNABY, British Columbia, Feb. 12, 2007 (PRIME NEWSWIRE) -- American Insulock Inc. (the "Company") (CNQ:AIKI.U) (Pink Sheets:AILKF) is pleased to announce that it has entered into a contract with a U.S. property developer for a quantity of 10,000 blocks to build four houses in Payson Arizona. The developer, Mr. Kevin Fulkerson, resides in the Phoenix area.
Mr. Fulkerson, a designer and general contractor, will be taking the lead on the Payson project. Two of the four houses already have building permits and construction is scheduled to begin immediately. Mr. Fulkerson is currently notifying sub-contractors to start the project. Plans for houses three and four have been submitted and are awaiting approval.
Insulock International, Inc. (the wholly owned subsidiary of American Insulock Inc. in Mesa, Arizona) has blocks in inventory and has begun additional production for this order.
American Insulock was introduced to Mr. Fulkerson at the Arizona Home and Garden Show. Mr. Fulkerson immediately saw the need to use the Insulock blocks in his properties and has developed a solid working relationship with the Company. Mr. Fulkerson is currently developing several other properties in the Phoenix area. The Company has begun negotiations to supply blocks for these properties.
American Insulock Board of Directors made a decision to concentrate its efforts in the South West United States were its production facility is located. Clearly, this decision will lead to greater sales of our unique building block. The Company is confident that the increase in block sales will ultimately lead to sales of our proprietary equipment and machinery.
The Company's core business is the manufacture and distribution of its brand of insulating concrete forms (known as INSULOCK(r) Blocks), together with the equipment that is used to manufacture these blocks. INSULOCK(r) Blocks are made of polyurethane rather than polystyrene (i.e., Styrofoam(r)), which is the material that is used by virtually every other manufacturer of insulating concrete forms. INSULOCK(r) Blocks are much stronger than polystyrene blocks and can be used to construct soundwalls and buildings that are highly effective at absorbing sound and that have an R-30 or R-38 heat insulating value.
On Behalf of the Board of Directors, American Insulock Inc. Per: "Enna Keller" Chief Executive Officer and Director
Canadian Trading and Quotation Systems Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-Looking Statements
Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources, as well as risks inherent in operating in foreign jurisdictions, including varying judicial or administrative guidance on interpreting rules and regulations and a higher degree of discretion on the part of governmental authorities. Actual results, performance or achievement could differ materially from those expressed in or implied by these forward-looking statements.