SOURCE: SGD Holdings

March 03, 2011 09:00 ET

SGD Holdings, Ltd. Releases Preliminary 2010 Sales Figures for EcoFriend Group

VENTURA, CA--(Marketwire - March 3, 2011) - EcoFriend Group, a subsidiary of SGD Holdings, Ltd. (PINKSHEETS: SGDH) today announced sales of $1,111,974 for the period of June through December 31, 2010. Net profit during the period is reported at $153,000.

SGD Holdings acquired EcoFriend Group in June of 2010. The company attributes these robust figures to the growing strength and popularity of EcoFriend Group's core brands which include Saldos, Black and White, Univercity, Chic Royale and Natural Funk. The company supplies to many of Mexico's most well known outlets including Arteli, Hallmark, Chedraui, Super Kompras, Copavisa, and Wal-Mart among others. Increasingly efficient operations and distribution are also considered contributing factors to the company's profitability.

"Our confidence in the performance of EcoFriend Group is well founded," said Harry Johansing, CEO of SGD Holdings, Ltd. "The brands are experiencing exceptional growth which is attributed to management and distribution both operating at peak efficiency. We anticipate that 2011 will experience even stronger growth in terms of sales and income."

SGD Holdings is currently in the process of attaining "Tier 1" bank financing in order to complete the Aclor acquisition.

"Initially we considered pursuing 504 financing methods in order to complete this acquisition," said Harry Johansing, CEO of SGD Holdings, Ltd. "However, our concern is that 504 financing may dilute SGD Holdings' stock. Though Tier 1 financing takes longer to acquire, we are confident that our acquisition of Aclor, Inc. will be finalized in the very near future. This acquisition is the culmination of our strategic plan for growth and we look forward to completing this transaction to the mutual benefit of SGD Holdings, stockholders and investors.

Aclor, Inc. is currently based in Atlanta, GA with manufacturing plants and sales and distribution facilities located in Laredo, Texas and Mexico.

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