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GTEC - - Press ReleaseSource: Genesis Technology Group, Inc.
Agronix Selects Genesis Technology Group to Launch Its China Initiative
Tuesday April 8, 7:00 am ET
BOCA RATON, FL--(INTERNET WIRE)--Apr 8, 2003 -- Genesis Technology Group, Inc. (OTC BB: GTEC) announced today the signing of a contract with Agronix, Inc. (OTC BB: AGNI) of Vancouver, British Columbia. Genesis benefits by immediate income from the agreement, plus long-term benefits through success fees and equity in any future Sino-Agronix business entity created through its efforts.
Agronix, a U.S. public corporation, is a biotechnology company with an environmental focus and mission. It was founded in 1999 to locate technologies that would solve the greatest threat facing the global environment today -- which is the pollution caused by massive amounts of organic waste created by modern society and industry. Agronix's technologies convert organic wastes, such as animal manures from intensive livestock operations, sewer sludge, and waste from industrial food production and processing, into value-added organic fertilizers and soil amendments.
Genesis CEO Gary Wolfson commented, "Agronix is the ideal company for China. Its organic waste management systems are so critically needed, as the Chinese continue to scour the world for the best and most environmentally sensitive technologies. Equally important, Agronix's China business strategy is totally compatible with the Genesis business model; we will collaborate with the Shanghai Technology Stock Exchange and source the best joint venture partner to create an effective and profitable Sino-Agronix joint venture."
Agronix President and CFO Brian Hauff stated from his Canadian headquarters, "Agronix is already a company succeeding in the global arena. We are in an acquisitive mode, and our entry into the Chinese markets must be carefully mapped out and executed. Genesis offers a unique strategy with our teaming with STSE and Genesis China. Not only will Agronix locate the best joint venture partners through the Genesis network, but it can tap into the $24 billion capital reserves of STSE."