NEW YORK, April 5 /PRNewswire-FirstCall/ -- SpongeTech® Delivery Systems, Inc., The Smarter Sponge(TM), (Pink Sheets: SPNG), continues to enhance its management team with the addition of James G. Backer as the Plant Manager at Dicon Technologies, LLC in Black Creek, GA, a new position.
Mr. Backer has over 25 years of experience in manufacturing and operations as well as supply chain, asset and product/project management. He most recently worked as the Director of Operations at PPT Research Inc. in Allentown, Pa. In addition, he has held significant management responsibilities at Rhodia Inc. in Cranbury, NJ and Air Products and Chemicals, Inc. in Allentown, Pa.
Mr. Backer will be in charge of all manufacturing operations at the Dicon Technologies manufacturing facility where the Company produces hydrophilic foam cleaning products for the car, child, pet, home, marine, cosmetic, footwear, and medical businesses.
"We are very excited to have someone with Jim's background and experience join our growing company," said Michael Metter, CEO of SpongeTech. "We expect to continue to grow our business with a deeper penetration of our current products through our existing retail customers as well as the introduction of new products at retail. The Dicon facility will continue to be a major resource for our products as we move forward.
In addition, the Company is looking to expand its finished goods warehousing in the vicinity of the Dicon plant to generate greater operating efficiencies and increase our employment in the area.
Also, SpongeTech® has entered into a factoring arrangement for its accounts receivable to assist our cash requirements as the Company grows.
There will be additional updates on Company activities in the days and weeks ahead.
About SpongeTech® Delivery Systems, Inc.
SpongeTech® Delivery Systems is a company which designs, produces, and markets unique lines multi-usage cleaning products for Car Care, Child Care, Home Care, Marine Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its products as The Smarter Sponge(TM).
Dicon Technologies, LLC, located in Black Creek, Georgia, has a product line that currently focuses within the cosmetic, footwear, and medical markets. Dicon's cosmetic product line utilizes a patented, latex-free hydrophilic foam material in a wide variety of sizes and shapes for Dicon's "Just For You®" line as well as several private label brands. Dicon products include applicators, cleansing sponges, buffs, puffs, and wedges for various skin care and cosmetic applications.
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended May 31, 2008 and the Company's Quarterly Report on Form 10-QSB for the third quarter ended February 28, 2009. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc. Investor Relations 1-877-776-6438 ir@spongetech.com
SpongeTech(R) Delivery Systems, Inc.
CONTACT: SpongeTech(R) Delivery Systems, Inc., Investor Relations,
+1-877-776-6438, ir@spongetech.com
