JACKSONVILLE, Fla., March 17, 2008 (PRIME NEWSWIRE) -- Mariner's Choice International Inc., (Pink Sheets:MCII) today announced that the company has agreed to terms with, and received its initial stocking order of products to Greece-based Tsirigotis G. O.E., a major European marine parts and supplies distributor that sells products to commercial cruise line operators and industrial freight and cargo shipping lines. The milestone distribution agreement and first shipment of products represents the Company's first foothold into the European marine market.
The European recreational, commercial and industrial marine sectors represent major target markets for Mariner's Choice, as there are an estimated 6.5 million marine vessels located within the borders of the European Union (E.U.) - an average of 1 boat for every 43 people - with nearly half of all Europe's residents, 280 million in-total, living near the coastline. According to the European Union Recreational Marine Industry Group, in 2005, the E.U.'s recreational boating industry alone was comprised of some 37,200 businesses with at least 272,000 direct employees generating in the region of Euro 23.4 billion in revenue, which does not factor in industrial and commercial sectors that tend to be far greater in revenue and scope.
Aside from the compelling "coastline" population and target market demographics, progressive E.U. standards and regulation with respect to environmental protection provide an ideal market environment for Mariner's Choice "eco-safe" products, as the E.U. has taken extensive, broad sweeping measures to ensure that pollution does not take place in European river basins, lakes and seas. Recently, the International Council of Marine Industry Association (ICOMIA), Marine Engine Committee (IMEC) and The European Commission have begun an impact assessment to look at the possibility of even more stringent engine emission regulations in the E.U.
Additionally, private advocacy groups are helping to drive increased environmental consciousness, and by extension, a more lucrative market for Mariner's Choice products in Europe. The Blue Flag program (www.blueflag.org), an international marine environmental advocacy group, is drawing attention to protecting water in marinas and beaches throughout Europe - as well as in many other parts of the world including Australia, the Caribbean and South Africa - calling for strict anti-pollution measures to be in place in order to gain acceptance and accreditation by the organization and display its highly-revered "blue flag".
Mariner's Choice CEO, Amie Hingston, commented, "We are very pleased and excited to have attained such an important milestone as securing our first European Distributor and we are fortunate to have such a dynamic sales organization 'leading the charge' for us across the pond. Tsirigotis G. O.E. is a major distributor in Europe, representing such large European companies as ERG S.P.A, the largest independent group operating in the energy and petroleum sectors in Europe. Tsirigotis G. O.E. has conveyed their enthusiasm in our 'eco-safe' products and the market opportunity for them, particularly our MC-Marine Fuel Catalysts, which uniquely address Sulfur Emission Control Area (SECA) regulation." She continued, "Furthermore, the strength of the Euro is making U.S.-based suppliers more attractive to European consumers, which should help aid sales in the European market. We look forward to significant sales from Tsirigotis G. O.E. in 2008 as we continue to build our pipeline of European distribution."
About Mariner's Choice International, Inc.
Mariner's Choice provides high-performance and eco-safe recreational and industrial solutions to the marine industry utilizing leading edge biodegradable technologies. Mariner's Choice products reduce the cost of ownership, operations, and maintenance of marine assets. Each product is tested to exacting standards and performance levels of excellence, while providing the greatest benefit and satisfaction to the recreational and industrial customer. Mariner's Choice "green" products and nano-technology is a timely response to the environmental and health concerns that affect people globally. For more information on the Company, please visit on the Internet at http://www.marinerschoice.net.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Mariner's Choice International, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.