CARLSBAD, Calif., Jan. 10, 2011 /PRNewswire/ -- Forza Environmental Building Products, Inc. ("Forza") (http://www.forzaenvironmental.com/), (OTCQB: GUGO), announced today the signing of a Memorandum of Understanding with Mytek International to create a joint venture to co-manufacture and distribute the Artzer Z-Panel(TM) in Mexico and the Southwest U.S. The final agreement is expected to be signed by February 28, 2011.
(Logo: http://photos.prnewswire.com/prnh/20110106/MM26436LOGO)
The joint venture enables Forza and Mytek to capture a share of the multi-billion dollar "low-cost" housing market in the Western Hemisphere. The partners intend to introduce a bio-foam, insulated Artzer Z-Panel(TM) to meet the demand for "green" building materials in nearly all of the emerging economies. The co-manufacturing facility is to be located in Building #7 at Mytek's 60-acre North American Industrial Park.
About Mytek
Mytek International, Inc. (http://www.merrytech.com.mx/) is a multinational manufacturing and distribution company spanning Asia and the Americas with a focus on environmentally sound products. Founded in 1990, the company manufactures over 200 different products, including consumer goods, household appliances, and consumer electronics and utilizes a global distribution network with major commercial retail partners. Mytek's building arm, Merry Home, constructs "affordable" housing units and has ordered 40,000 Artzer Z-Panels(TM) from Forza.
About Forza Environmental
Forza Environmental Building Products, Inc. is a public company whose common stock is quoted on the OTCQB Exchange in the United States under the symbol GUGO. As the worldwide manufacturer and distributor of the Artzer Z-Panel(TM), Forza will provide environmentally sound, energy-efficient materials for safe, sustainable shelter to disaster replacement and "affordable/social housing" projects.
Forward Looking Statements
This press release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this current report which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to the characteristics and features of the Artzer Z-Panel(TM) system, the signing of the final agreement by February 28, 2011, that any joint venture will enable Forza and Mytek to capture a share of the multi-billion dollar "low-cost" housing market in the Western Hemisphere, the commencement of panel production , or the development of the bio-based Artzer Z-Panel(TM) .
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainty of financial estimates and projections, the competitive and regulatory environment for early stage companies in the construction industry, stock market conditions, unforeseen technical difficulties and our ongoing ability to operate a business and obtain financing. These forward-looking statements are made as of the date of this current report, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that our beliefs, plans, expectations and intentions contained in this current report are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for our most recent fiscal year, our quarterly reports on Form 10-Q and our other periodic reports filed from time-to-time with the Securities and Exchange Commission pursuant to the Securities Exchange Act.
PRN Photo Desk, photodesk@prnewswire.com
Forza Environmental Building Products, Inc.
CONTACT: Joel King, Director of Investor Relations of Forza
Environmental Building Products, Inc., +1-760-585-1900, Toll-free:
1-888-663-6792, jnk@forzaenvironmental.com
Web Site: http://www.forzaenvironmental.com/
