SOURCE: Gold River Productions, Inc.

May 10, 2011 09:10 ET

Gold River Productions Inc. (GRPS-Pink Sheets) Announced Today That It Has Filled a Key Managerial Position Necessary to Initiate Factory Operations in Its Primary Utah Facility

SALT LAKE CITY, UT--(Marketwire - May 10, 2011) - John Ohlin, President and Chief Executive Officer of Gold River Productions (PINKSHEETS: GRPS) Inc., announced today the hiring of a multi-talented experienced plant manager, Scott Taylor. He will be managing all facets of the day to day factory operations to include but not limited to, staffing clerical, back office personal and the hiring of factory employees, overseeing all capital equipment projects, high speed factory automation and quality control. With this important addition in place we are now well under way to the realization of our strategic business plan as we prepare to start producing both of our highly sought after proprietary product applications.

Mr. Taylor is an aerospace engineer with thirteen years of experience as an officer with the Kansas National Guard. During his time with the National Guard Mr. Taylor was responsible for the operations and maintenance of 21 National Guard locations in Kansas. Mr. Taylor has been one of the engineers working on the 787 which is the first commercial airplane built with composite materials. We feel he is the perfect fit at this critical time and represents a positive step forward in achieving both our long and short term goals as well as increasing shareholder value.

When fully staffed our factory will employ up to 35 full time employees with the ability to add additional shifts to accommodate peak periods and or emergency orders. Once the plant is fully operational we will be concentrating on two main revenue streams.

First and foremost is the "World Home" Prefab Earthquake resistant home. Once operational and assuming two shifts per day we would be capable of producing up to four hundred, 700sq ft houses per month which can be erected at a customer's desired location in under 3 days, representing the most viable alternative available for any potential customer. As stated in our recent press releases, we have experienced a peak in interest due to the tragedy in Japan and expect to realize significant orders in the near term as favorable negotiations continue. At a cost of approximately $21,000 per erected home at maximum production, the potential monthly revenue would exceed $8,000,000, an annualized $96,000,000.

Our second priority revenue stream comes from our Pontoon Boat Decking application. Recently one of the largest pontoon boat manufacturers located in the U.S. expressed an interest in using AeroQuest's patent pending composite decks on all of their newly constructed Pontoon boats. They were sent a proto-type all-composite deck sample to test. After they had completed a series of rigorous testing on the one-piece deck, they reported that they were "extremely pleased with the durability, stiffness, flexibility and the ease of installation." The weight savings of 70% was, as they put it, "icing on the cake." They produce approximately 40,000 new pontoon boats per year. The realization of just this one contract would require 7,000,000 sq. ft. of decks per year, each deck being an average of 180 sq. ft. at a cost of $4.00 per sq. ft. calculates to over $28,000,000 in revenue for AeroQuest each year.

For complete information on the Company please go to our web site www.atpanels.com.

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financing and other risks.

Contact Information

  • Contact:
    Mr. John Ohlin
    President/CEO
    801-523-2744