HQ Sustainable Maritime Industries Acquires a Significant New Customer
SEATTLE, WA–( EMWPresswire – March 31, 2008) – HQ Sustainable Maritime Industries, Inc. (
aquaculture and aquatic product processing with operations in Hainan, PRC,
today announced that the Company has received a large order from a global
seafood processing company for HQS’s new frozen block fillets and for
frozen, toxin-free all natural tilapia fillets. The buyer supplies major
fast-food and retail chains with tilapia as a sustainable alternative to
ocean harvested fish.
The Company announced the order because it will have a material effect on
the Company’s finances, as well as a significant impact on the Company’s
production and processing of tilapia products. Industry practice is not to
disclose the names of major customers.
HQS recently developed the block fillets to replicate the taste and texture
of Alaskan Pollack, a species typically used in fast-food fish sandwiches.
Major chains are looking to the aquaculture industry to supplement their
fillet supply, since wild ocean stock continues to decline from
overfishing, global warming and pollution.
In addition to meeting rigorous quality standards, the tilapia fillets
successfully met the taste and texture standards of all parties involved.
“This order signals a new direction for HQ Sustainable and will require a
major increase in our production,” said Norbert Sporns, the Company’s
Chairman and Chief Executive Officer. “This customer does not take on new
suppliers lightly and conducted substantial due diligence before deciding
to work with us. We’ve been gearing up for some time, and we are thrilled
to have earned their confidence, as this opportunity offers incredible
HQ Sustainable is the first major tilapia provider to receive Best
Aquacultural Practices (BAP) certification for its processing operations
from the Aquaculture Certification Council (ACC certification), a benchmark
required by many U.S. retailers. The company’s facilities are also one of
only 20 China-based aquaculture operations directly inspected and approved
by the U.S. Department of Commerce.
About HQ Sustainable Maritime Industries, Inc.
HQ Sustainable Maritime Industries, Inc. is an integrated aquaculture and
aquatic product processing company, with operations based in the
environmentally pristine island province of Hainan, in the South China Sea.
HQS practices co-operative sustainable aquaculture, using nutraceutically
enriched feeds and conducting fish processing and sales. The company is
dedicated to sustainable toxin-free methods giving its customers the purest
products possible. The Company holds HACCP certification from the U.S. FDA
and the EU Code assignment of quality, permitting its products to be sold
in these international markets. The Aquaculture Certification Council, Inc.
(ACC) certified that tilapia processing standards met Best Aquaculture
Practices, and the Chinese government gave organic certification the
Company’s tilapia production, processing, labeling, marketing and
management system. The Company owns a nutraceuticals and health products
company, which is HACCP and GMP certified, and produces and sells products
subject to stringent laboratory tests certified by the China Ministry of
Health. This GMP certified plant produces nutraceuticals, which enrich feed
used by HQS’ cooperative aquaculture operations. In addition to
headquarters in Seattle, HQ has operational offices in Wenchang, Hainan.
The Company’s website is: http://www.hqfish.com.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are
“forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements may be identified by the use
of words such as “anticipate,” “believe,” “expect,” “future,” “may,”
“will,” “would,” “should,” “plan,” “projected,” “intend,” and similar
expressions. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual results,
performance or achievements of HQ Sustainable Maritime Industries, Inc.
(the Company) to be materially different from those expressed or implied by
such forward-looking statements. The Company’s future operating results are
dependent upon many factors, including but not limited to the Company’s
ability to: (i) obtain sufficient capital or a strategic business
arrangement to fund its expansion plans; (ii) build the management and
human resources and infrastructure necessary to support the growth of its
business; (iii) competitive factors and developments beyond the Company’s
control; and (iv) other risk factors discussed in the Company’s periodic
filings with the Securities and Exchange Commission, which are available
for review at www.sec.gov under “Search for Company Filings.”
HQ Sustainable Maritime Industries, Inc.
CCG Elite Investor Relations
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