MARKHAM, Ontario, Nov. 3, 2004 (PRIMEZONE) -- ART International Corporation (OTCBB:ARIOF) is pleased to announce that its wholly-owned subsidiary, Diamant Film Inc., the North American distributor of a revolutionary non-PVC stretch wrap, has signed a Letter of Intent for a distribution agreement with Victory Packaging, headquartered in Houston, TX. The agreement is for the distribution rights of Diamant(tm) film to the industrial, supermarket, institutional, and catering markets throughout North America.
"Diamant is very excited to work with a reputable packaging firm which possesses established and widespread distribution channels throughout our target market. We continue to believe that we possess the only economically viable polystyrene alternative to PVC stretch film for the $700 million North American stretch film market. Victory's extensive network of warehouses and delivery routes throughout the US, Canada, and Mexico makes them an ideal distribution partner," comments Stefan Gudmundsson, Chief Executive Officer of Diamant Film Inc., a wholly-owned subsidiary of ART International.
Victory Packaging, www.victorypackaging.com, has been at the forefront of the packaging industry for 25 years. As the only national organization dedicated entirely to providing packaging solutions, Victory offers its clients the complete packaging solution with product lines ranging from paper/cushion packing and strapping to pallets and moving supplies. Its sizeable fleet makes daily deliveries from local warehouses in every major market in the US as well as Canada and Mexico.
About ART International Corporation
ART International Corporation through its wholly owned subsidiary, Diamant(tm) Film Inc., has secured a ten-year agreement with Diamant Plastics Corporation for the exclusive marketing and distribution rights in the United States and Canada to Diamant Film, a non-PVC food stretch film. Diamant Film is the world's first, plasticizer-free stretch film based on polystyrene and the first food wrapping film that is environmentally friendly and recyclable. Diamant Film has recently been certified by the Environmental Choice(M) Program.
For more information please visit our website, www.diamantfilm.com.
Safe Harbor
This release may contain forward-looking statements that involve uncertainties and risks. Actual results may differ materially from the results predicted. Important factors which could cause actual results to differ materially from those expected or implied in the forward-looking statements are detailed in filings with the Securities and Exchange Commission made from time to time by ART International Corporation including its periodic reports on Form 10-K, 10-Q and 8-K. ART International Corporation undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof.