Packaging

Newave Packaging Supplies E-Wrap Food Film for Machine Testing by 3 Major Distributors Significant Orders Anticipated Combined Annual Sales of 3 Million USD

Thursday 20. January 2011 - Safetek International, Inc. (Pink Sheets: SFIN), announced today three major distributors of food products based in the United States, Russia and South America have completed two of the three steps in the purchase process of the eco-friendly, non-toxic ewrap(TM) food film produced by its subsidiary Newave Packaging, Inc.

The distributors have agreed on pricing and delivery requirements and have received sample film rolls with specific dimensions of ewrap(TM) machine wrapping food film to test on their high speed packing machines. ewrap(TM) film is manufactured to meet global industry standards and can be used on packaging machines currently operated in the industry.
Commenting on the process to secure these large orders, Dr. Fredrik Verkroost, President of Newave Packaging, Inc. said:
“Having already accepted our pricing plans and receiving sample rolls for testing on their food packaging machines, we hope the distributors’ evaluations will be complete within a couple of weeks. If the testing is completed successfully, we have been advised to anticipate delivery requirements in excess of 75,000 rolls annually as a minimum order, which could equate to company growth starting in the second quarter of 2011.
The customers of these distributors use food film for packaging of meat, pork, poultry, vegetables and other food products. We believe these orders indicate that there is a global transition in the food packing industry and companies from small stores to large distributors are looking to purchase a competitively-priced alternative to what is currently available in the market. We hope ewrap(TM) will be the eco-friendly, healthier, and cost-competitive alternative they are seeking. We believe this transition represents growth potential for Newave. Lastly we are rolling out our business slowly so that we create a solid foundation of service for our customers. It may take a bit longer, but we believe it will help ensure that our customers will stay with us over the long term.”
If the physical testing and purchase process are completed successfully, Newave will announce any confirmed customer orders in the next few weeks.