LFWK /Sulja Bros. Merger Leads to Lumber Supply Agreement With Liberian Government
Wednesday April 19, 2:06 pm ET
Margin on Staple Could Increase From 12% to 31%
WINDSOR, ON--(MARKET WIRE)--Apr 19, 2006 -- LoftWerks, Inc. (Other OTC:LFWK.PK - News) today announced that a Liberian supplier of mid- and high-grade lumber cut to traditional North American building lengths and standards will finalize a Preferred Vendor Status Contract with Sulja Bros. as soon as is practical considering the sanctions soon to be lifted from the Liberian timber industry.
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A Liberian official earlier said that the country is embarking on a vigorous post-conflict Economic Recovery Program with the intent of placing the country on a viable economic path.
The supply-side contract could increase margins by as much as 19% (12-31%) per annum. The dialogue has also opened venues for further transactions that include Sulja actively seeking out North American suppliers of traditional staples and infrastructure materials like asphalt, low-cost, modular housing structures, and even rice.
Petar Vucicevich, Director General of Consultech Construction Management, Inc., also re-iterated (from an earlier release) that revenue projections for Sulja should exceed $50 million for the twelve-month period following the completion of the merger and the broader market opportunities that await the post-merger Sulja Bros. The financial reports for Sulja Bros. are available for viewing at www.suljabros.com.
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements maybe identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
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