SOURCE: SGD Holdings

January 20, 2011 08:22 ET

SGD Holdings, Ltd. Announces Preliminary 2010 Results

VENTURA, CA--(Marketwire - January 20, 2011) - Ecopaper.com, a subsidiary of SGD Holdings, Ltd. (PINKSHEETS: SGDH) today announced sales of $3,444,945 for the year ended December 31, 2010, compared to sales of $84,697 for the same period last year, an increase of 3967% a record sales level for the Company. The 2010 results presented in this release are based on preliminary financial data and are subject to change until the year-end financial close process is complete. The Company attributed these strong sales increases to the Company's diversification by entering into the sales of raw materials. The increases were across the board with sales to EOM companies for office product supplies and manufacturing. As a result of increased sales and carefully managed costs, the Company projects stronger increase in profitability and increased sales coupled with appropriate cost controls as the Company grows in 2011.

According to Harry Johansing, CEO, "We are extremely pleased with these record revenues. We invested in globalizing the business during the downturn, and now over two-thirds of our sales are due to OEM manufacturers. In addition, the successful product diversification of our proprietary technology into new market niches has played a major role in our organic growth. We recently announced entering into a letter of intent to purchase Aclor, Inc. in order to have adequate expansion space for current and longer term staffing and manufacturing requirements. We anticipate another strong year in terms of sales and income."

About SGD Holdings, LTD.
SGD Holdings, LTD. (PINKSHEETS: SGDH) is a holding company which owns and operates, through its wholly-owned subsidiary, Ecopaper, Inc. (http://www.ecopaper.com.) and EcoFriend Group. Through internal research and development, as well as through acquisition, the company aspires to create and acquire new technologies, products and methodologies which have the potential to positively impact the environment. For more information regarding SGD Holdings, Ltd. e-mail ir@ecopaper.com.

Forward-Looking Statements: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes and delays in plans and schedules, or market acceptance. SGD Holdings, Ltd. undertakes no duty to update these forward-looking statements.

Contact Information

  • Contact:
    Harry Johansing
    805-644-4462