Circle Group Holdings Signs Deal to Provide $2.6 Million of Z-Bind(TM) to South American Timber Company
14 Septiembre 2004 - 12:28PM
PR Newswire (US)
Circle Group Holdings Signs Deal to Provide $2.6 Million of
Z-Bind(TM) to South American Timber Company Z-Amaize Technologies
to Supply Z-Bind to Senticore's Timber Plantations for Distribution
Throughout South America and India MUNDELEIN, Ill., Sept. 14
/PRNewswire-FirstCall/ -- Circle Group Holdings (AMEX:CXN),
announced today that its wholly-owned subsidiary, Z-Amaize
Technologies, has entered into a three-year agreement valued at
$2.6 million to supply its newest product Z-Bind to Senticore, Inc.
(OTC:SNIO) (BULLETIN BOARD: SNIO) , a real estate holding company
with timber plantations in South and Central America. Z-Bind offers
an affordable alternative to plywood manufacturers seeking superior
adhesives that are also environmentally friendly. Under the terms
of the agreement, Senticore will be granted an exclusive
distribution right for India and South America. In order to
maintain this exclusivity, Senticore must purchase $350,000 worth
of Z-Bind during the first twelve month term, $750,000 worth of
Z-Bind during the succeeding twelve month-period and $1.5 million
worth of Z-Bind during the succeeding twelve- month period.
Senticore will also pay a non-refundable manufacturers deposit of
$150,000 by November 30, 2004. "We are pleased that just one month
after Z-Bind became available commercially, we were able to sign an
agreement for a significant purchase," said Greg Halpern, Circle
Group Holdings' CEO. "The global market for adhesives and sealants
is estimated to be in excess of $16.8 billion and the combination
of our recently opened production facility along with expanded
marketing initiatives should enable us to penetrate this highly
attractive market. Z-Bind offers our customers a lower-cost
alternative to adhesives, and we believe that we can capture a
significant share of the market." "We selected Z-Bind because we
believe it to be a superior, cost-effective adhesive product for
the timber industry. Senticore is focused on managing its timber
operations as efficiently as possible and we feel Z-Bind will aid
in achieving that goal," said Jay Patel, Senticore's CEO. "With
Z-Bind, Circle Group enables us to utilize better alternatives in
place of traditional adhesives in our operations in Venezuela and
Costa Rica. In addition to recent hurricane disasters, and an
already significant supply shortage, lumber prices and futures have
skyrocketed during the past few months which could only enhance the
profit potential from using Z-Bind." About Senticore Senticore
Inc., headquartered in Hollywood, Florida, was founded in 1999. The
company was restructured as a holding company in 2003. The
corporate focus is the acquisition of diverse businesses and real
estate within various industries such as timber and logging
operations, residential & commercial real estate, land
development projects, hospitality industry, and professional
sports. The Company has completed several successful acquisitions
including land development projects and timber plantations. More
information about Senticore may be found at the corporate website -
http://www.senticore.com/ . About Z-Amaize Z-Bind, (
http://www.crgq.com/zbind/ ) is an organic composite of starch
dextrins, corn protein zein (which has a long history of use as an
adhesive and coating), and the cellulosics from corn bran. The
blend of the three-in- one offers better formulation, reduced cost,
and functional advantages including faster set up times. Z-Bind was
originally developed as a wood adhesive extending component that
emerged from research performed by the product development group of
Circle Group's subsidiary -- FiberGel Technologies (
http://ztrim.com/ ). The domestic plywood industry uses 1.2 million
metric tons of resin solids per year. The softwood plywood sector
uses 600 million Kg of phenol formaldehyde resin solids while
Canadian usage is 400 million Kg. Because of significant cost
pressure from EPA emission regulations regarding the manufacture of
such adhesives, Z-Bind provides an affordable alternative for
plywood manufacturers seeking superior adhesives, which have the
additional benefit of being environmentally appropriate. Additional
research and development has expanded Z-Bind's use as a cellulosic
extender in the US for five major applications: wood composites and
construction materials, corrugated board adhesive in packaging,
tapes and labels for direct consumer sales, wood binding adhesives,
and concrete composites. Z-Bind's easy market entry stems from cost
pressures on Phenol- Formaldehyde, Urea-Formaldehyde, Vinyl Esters,
Isocyanate adhesives, and Acrylate resins and the consumer
environmental concern to offer higher performance, non-volatile,
organic chemical adhesives and sealants. About Circle Group
Holdings, Inc. Circle Group Holdings, Inc. ( http://crgq.com/ ) is
a pioneer in emerging technology companies.. The Company provides
small business infrastructure, funding and substantial intellectual
capital to bring important and timely life-changing technologies to
market through all early phases of the commercialization process.
All Company press releases are available at
http://www.crgq.com/HTML/breakingNews.html . Forward-Looking
Statements Statements made in this news release that relate to
future plans, events or performances are forward-looking
statements. Any statement containing words such as "believes,"
"anticipates," "plans," or "expects," and other statements which
are not historical facts contained in this release are
forward-looking, and these statements involve risks and
uncertainties and are based on current expectations. Consequently,
actual results could differ materially from the expectations
expressed in these forward-looking statements. Reference is made to
the Company's filings with the Securities and Exchange Commission
for a more complete discussion of such risks and uncertainties.
Contact: Steve Cohen Circle Group Investor Relations (847) 549-6002
Gilbert Emerson Senticore Investor Relations (954) 927-0866
DATASOURCE: Circle Group Holdings, Inc. CONTACT: Steve Cohen,
Investor Relations of Circle Group, +1-847-549-6002, ; Gilbert
Emerson, Investor Relations of Senticore, +1-954-927-0866, Web
site: http://www.crgq.com/ http://ztrim.com/
http://www.crgq.com/zbind
http://www.crgq.com/HTML/breakingNews.html
http://www.senticore.com/
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