DEERFIELD BEACH, Fla. and NAPOLEONVILLE, La., Aug. 22, 2007 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc. (Pink Sheets:RRLB), a scientific research, development, and marketing group focused on commercializing a variety of chemical and biological products, announced today that the Company, in a cooperative relationship agreement with DITEC International Corporation, grants DITEC exclusive use rights to a family of proprietary products for automotive maintenance, while agreeing to provide ongoing research and development of current and new products. This arrangement is aimed to give DITEC an even greater competitive edge in the auto detailing and paint preservation field. Red Reef will receive, as part of the compensation, or incentive plan, an undisclosed participation in DITEC Florida revenues.
With this alliance, DITEC becomes the exclusive distributor of Red Reef automotive maintenance products in the United States and Europe, primarily with sales to DITEC centers.
DITEC Paint Preservation System was first introduced in Denmark (1975). DITEC's products and services are provided in Sweden, Norway, Germany, Finland, Switzerland, Denmark and Portugal and are now available in the US with 5 outlets in Florida.
The DITEC proprietary system is a complete and durable paint preservation system. DITEC is a 5 step treatment to preserve the paint effectively. These unique products preserve and warrant a factory-fresh finish for 6 years on automobiles and 5 years on boats and airplanes. Once the finish is preserved and protected by DITEC, the paint will keep its luster with minimal maintenance, never requiring wax or polish.
"We are the only company of our kind with a complete preservation and protection system that has been tested and endorsed by the Swedish National Testing Institute (Europe's most respected testing institute), the European AAA and others, incorporating many years of testing. All DITEC products are environmentally friendly without the presence of any Teflon/PTFE or Silicon. We provide the auto, boat and airplane owner with carefree maintenance, which protects their investment in a unique way and virtually assures top resale value. Our decision to enter into a co-operation with Red Reef is based on our assessment of their products and confidence in their research and development department. We are confident that the relationship will be highly beneficial to both companies and provides DITEC's clients with additional unique and exceptional services," explains Christopher Alison, President of DITEC International Corporation.
This agreement, while benefiting both companies with potential for growth, also provides a launch pad for the Red Reef family of superior cleaning and sanitizing products for the automotive industry.
"Red Reef takes great pride in recognizing and seizing opportunities that create and provide marketing outlets for our specialty products. These products, together with DITEC's own proprietary paint preservation technology, will continue giving them a competitive edge with products no one else provides to their customers. We look forward to continuing to provide this advantage through our R&D, introducing products that will make DITEC an undisputed leader in their field," stated Dr. Claus Wagner-Bartak, President of RRLB.
About Red Reef Laboratories International, Inc.:
Red Reef Laboratories International, Inc. is a scientific research, development, and marketing group established to assemble, develop, commercialize and bring to market a variety of chemical and biological products, utilizing advanced surfactant technology and increasingly "green" compounds. These series of products are specifically designed for biocidal and virucidal applications. For more information, please visit the company's web site at www.redreef.biz.
About DITEC:
DITEC is a division of DITEC International Corporation that is a specialist in providing its clients with the highest quality of Preservation Systems. DITEC Paint Preservation System was first introduced in Denmark in 1975. Since then DITEC has enhanced and developed its products and services. DITEC's products represent the highest quality of protection and are available only at Authorized DITEC Centers worldwide. With over three decades of experience and hundreds of certified centers, DITEC Preservation System has proven to be the only reliable paint preservation system in the world. DITEC Paint Preservation System, in combination with our superior standards, is providing millions of people with the best maintenance and care. For more information, please visit the company's web site at www.ditecusa.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.