Foccini International Inc.
TSX VENTURE : FOI

May 13, 2008 11:04 ET

Foccini Secures New Contract Worth $2.4M for 2008

TORONTO, ONTARIO--(Marketwire - May 13, 2008) - Foccini International Inc. (TSX VENTURE:FOI) (the "Company"), 100% owner of Austrian merchandising and design subsidiary Foccini Trade GmbH ("FT"), today announced FT has secured a new merchandise contract worth EURO 1.6 million (approximately CAD$2.4M) to supply new uniforms for the employees of a large state owned company in Austria. This new contract marks Foccini Trade's entry into the market segment of designing and producing employee uniforms.

Manufacturing of the clothing will begin next month with delivery to the customer commencing in September. Final deliveries are expected to be completed before the end of 2008.

Christian Jagerhofer, the CEO of Foccini International and President of FT, commented: "This contract win will significantly boost FT's total revenue in 2008 compared with last year."

In its audited annual financial statements filed on SEDAR April 29, 2008, the Company reported total revenue of CAD $1.642M for 2007, compared with $1.594M in 2006. Management of Foccini Trade expects most of the business orders from last year to renew for 2008, putting the Company in position to have total revenues exceed $4M for 2008.

Mr. Jagerhofer adds: "This new contract signifies an important step in the development of the Foccini Trade platform. Successful completion of a larger order such as this can help grow market confidence in FT, helping FT's ability to finance and secure new business in the future."

Management of the Company remains committed to seeking new opportunities as a means to optimizing shareholder value, both within the Company's existing framework and beyond. Richard Muruve, a director of the Company, stated: "The new uniform contract and the recent balance sheet improvements of Foccini Trade will permit the company to negotiate from strength in any endeavour to seek a new business entity. Recent improvements in FT's performance also challenge management to be more critical in assessing any new opportunities."

The Company has filed audited annual financial statements and Management Discussion and Analysis for the year ending December 31, 2007. These statements and MD&A, along with additional information including past press releases regarding the Company, can be accessed at www.sedar.com

Foccini International has 27,321,179 common shares issued and outstanding.

WARNING: The statements made in this news release contain forward-looking statements that include risks and uncertainties, which reflect management's current views of future events and financial performance. Actual events or results could differ materially from expectations and projections set out herein. The Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise; however, these risks may be detailed from time to time in Foccini International Inc.'s public disclosures.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • Foccini International Inc.
    Richard Muruve
    Director
    (647) 428-7031
    (647) 428-7032 (FAX)