KIRKLAND, WA--(Marketwire - Oct 23, 2012) - Hitor Group, Inc. (OTCQB: HITR) (BERLIN: HTOG) -- Consistent with the stated business model to become an industry-leading Environmental Technology Accelerator and build a portfolio of Intellectual Property Development Partnerships, Hitor Group has grown the company significantly in just the last several months:
Nano-Jet (NJCT) testing is being concluded and the product has exceeded our expectations. With a new product of this nature that involves this type of disruptive technology it is imperative that the product launch is done with meticulous efforts and that we communicate tangible results. We look forward to releasing results and news about the direction we are moving with this asset.
Hitor Construction is actively bidding on several projects abroad and has brought the technologies and teams together to have the capability to deliver in the event of securing a significant housing contract.
- Hitor has formed a new subsidiary, Hitor Poland LLC., and a strategic partnership with the PBS Bank of Poland. This new European division establishes Hitor's first manufacturing plant and moves forward the goal to create a business model that partners with regional interests, addresses their demands, creates local employment and demonstrates a scalable business model that can be applied abroad.
- New Future International Inc. is an experienced partner with a great technology for housing developments and manufacturing plants for Structural Steel Building Systems™.
- The Exclusive Global Rights to NuGuard Home Systems Technology provides Hitor a panel housing technology that is more cost effective and efficient than any competing method. Additionally, it features a double loop factory system that allows Hitor to deliver housing on a mass scale with significantly reduced labor and energy costs. The panels are light weight, made from an environmentally inert material and meet or exceed the durability and structural efficiencies of any competing products on the market.
VBine Energy (VAWT) Vertical Axis Wind Turbines manufacturing has been set up at the Autosan Plant in Poland. Hitor entered into a relationship to manufacture and market this proprietary product globally. VBine has created a technology that could replace the current methods with a more cost effective and durable system for the advancement of wind power generation. Hitor will leverage its business relationships around the globe to market the product.
Team Building is a critical part of moving a company forward. Masood Ali Shah has been appointed Head of Business Development Africa, Europe & Far East. Mr. Shah has over 25 years of extensive international business experience in sales, marketing, trading, and corporate consulting securing government contracts. Frank Palasz has been asked to head up Hitor Poland LLC. as President and CEO. Mr. Palasz will be responsible for setting up of the first European manufacturing plant for Hitor and overseeing its operation. Ric Harris has been appointed as a Director and President of Hitor Group, Inc. Mr. Harris brings over 35 years of business experience in technology, financing, sales & marketing as well as private and public company development experience.
"We are poised for great success as a result of the dedicated efforts by all involved at Hitor and continue to maintain a focused effort knowing that our first responsibility is building this company on behalf of all stakeholders. Again thank you for your continued support of Hitor and please take the time to review the updates on the website and register online at www.hitorgroup.com." Ken Martin, CEO
About Hitor Group
Hitor Group is an industry leading Environmental Technology Accelerator that delivers best-in-class 'green' technology solutions for a better world. Hitor applies capital and best-in-class business practices to integrate green technologies, expand distribution channels, and catalyze rapid and profitable growth. Synergistic and proprietary technologies that can provide viable economic solutions to serve commercial markets along with developing communities are sourced worldwide. The global demand for solutions to these challenges has never been greater and at the same time innovations in technologies for solutions have arrived. Our goal is to bring these applications to this growing market segment and create shareholder value. To learn more about The Hitor Group, please visit our website at www.hitorgroup.com
Any statements that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our most recent Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations.