SAN DIEGO--(BUSINESS WIRE)--Dec. 30, 2003--American Fire Retardant Corp. (OTCBB:AFRR - News) announced today that the licensing agreement with PTS Products International Inc. (PTSPI, a wholly-owned corporation of PTS Inc.) to market and distribute the GloveBox(TM) has been expanded to include Singapore. As announced earlier, PTSPI had signed an exclusive licensing agreement with GloveBox Inc. to manufacture and sell the GloveBox(TM) in the Chinese market.
The GloveBox(TM) is a revolutionary, patented, automated latex glove dispenser targeting sterile (medical, laboratory), protective (dental, health, beauty, janitorial) and clean room (manufacturing) environments that solves a long-standing contamination problem caused by the normal retrieval and donning of gloves from a standard glove box. With its patented, free-standing dispenser (looking much like a small filing cabinet), users select from two glove sizes, slip their hands through sealed openings into air-filled gloves, then hit a foot switch to release the gloves onto their hands. A significant benefit of the GloveBox(TM) is its unique design feature that permits the dispensing of un-powdered gloves that are increasingly the cause of both contamination and communicable health problems.
Stephen F. Owens, president of American Fire Retardant Corp., said, "The licensing agreement with PTSPI is an agreement giving them exclusive distribution rights of the GloveBox(TM) in the Chinese and, now, the Singapore markets. GloveBox Inc. is the owner of all rights to the GloveBox(TM) and is in a joint venture with American Safety Products Inc. to design and develop this product. We feel that PTSPI has the knowledge and established relationships in the Chinese and Singapore markets to make this product very successful there. Of course, we will also be marketing and distributing the GloveBox(TM) here in the United States and expect it to do very well next year."
About American Fire Retardant Corp.
American Fire Retardant Corp. (OTCBB:AFRR -- www.americanfireretardant.com) is in the business of developing, manufacturing and marketing a line of interior and exterior fire retardant products. American Fire Retardant Corp. also designs new technology for future fire resistive applications that are being mandated by local, state and governmental agencies. Additionally, the company is active in the construction industry as sub-contractors for fire stop and fire film installations.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results.
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