HTBI signs $8.6 million contract, talk about a swing!
Hot Brands, Inc., Subsidiary, Alliance Holdings Signs $8.6 Million Contract
Tuesday June 22, 1:27 pm ET
NAPERVILLE, Ill.--(BUSINESS WIRE)--June 22, 2004--Alliance Holdings, Inc. a subsidiary of Hot Brands, Inc. (Pink Sheets:HTBI - News) announced today that its construction division, AllianceGC, LLC, has entered into a contract with ProFood & Beverage Company, to design, build and construct ProFood's new beverage facility. AllianceGC has spent several months evaluating the needs of ProFood & Beverage and identifying potential sites for the facility in the South Eastern states. Alliance Holdings preliminary construction budget for the state-of-the-art facility and equipment will approach $8.6 million.
Representatives of ProFood & Beverage have stated that AllianceGC was selected for this project due to the extensive experience Alliance Holdings and AllianceGC have in food processing and packaging systems. This experience includes planning, design, and construction of food processing and packaging facilities, on an international level. ProFood representatives went on to state that they have asked Alliance staff to identify additional geographic locations for additional production facilities.
Alliance Holdings executives state that this relationship with ProFood & Beverage Company fits well into their plan to develop national associations with growing companies. The long-term relationship with ProFood & Beverage Company, coupled with several other exclusive associations presently being developed by Alliance Holdings, the company will experience revenues at multiples above historic performance. Which this contract represents 175% of last years sales for Alliance Holdings which is well ahead of original forecast for Alliance.
Alliance Holdings had revenues of $4.9 million in 2003 and states that its present revenue available under contract exceeds $10 million.
Alliance Holdings is a builder, developer, design and consulting company to the hospitality, restaurant industries and liquid food & other food processing. Alliance Holdings is also experienced with turnaround projects specializing in the food and hospitality industries.
Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations there under. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the restaurant and fast-food industries, competitive pricing pressures, completion of planned acquisitions and success at integrating and operating the acquired operations and the availability of necessary financing. These statements speak only as of above date, and Hot Brands, Inc. disclaims any intent or obligation to update them.
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Contact:
Hot Brands Inc.
Clayton Smith
(971) 506-9156
It's all in the humblest of my opinions, and it's all about balancing your act, much like this:
AI
