Universal Food and Beverage Company
OTC Bulletin Board : UFBV

November 14, 2005 14:06 ET

Universal Creates New Executive Position of Senior V.P. Mergers, Acquisitions & Joint Ventures

ST. CHARLES, ILLINOIS--(CCNMatthews - Nov. 14, 2005) -

Mr. Ralph Passino resigns as CFO to assume new role

Universal Food and Beverage Company (OTCBB:UFBV) Mr. Duane Martin, CEO & Chairman of Universal Food and Beverage Company (Universal) is pleased to report the appointment, effective immediately, of Mr. Ralph Passino as Senior V.P. Mergers, Acquisitions & Joint Ventures, a new executive division of Universal.

The Company believes that there currently exists significant opportunity to accelerate its growth through the acquisition and/or joint venture with a number of smaller but highly successful regional beverage bottling and distribution companies. As a public entity, Universal believes that it is ideally positioned to build upon its current business base and development strategy.

Mr. Ralph Passino, who resigned as CFO concurrent with the recent new appointment is ideally suited for the role ahead. Mr. Passino holds a BS in Chemistry from Duke University and an M.B.A. from the University of Cincinnati and has held senior financial and operational positions with a variety of public and private companies over a period of 26 years. Beginning with Rockwell International, Mr. Passino moved to Signal Companies where he rose to Vice President of Finance with full financial responsibilities for the company's 6000 employees generating $500 million in sales. In 1985, upon the merger of Signal Companies with Allied, Mr. Passino and other executives spun off what became the $750 million General Chemical Group Inc. In 1998, Mr Passino became the Vice President and General Manager of Gen Tek, Inc, with full P&L responsibility for five separate business units generating $270 million. In 2002 Mr Passino was hired as the CFO of American Household, Inc., formerly Sunbeam Corporation, to restructure this $2 billion consumer products company emerging from Chapter 11.

About Universal Food and Beverage Company

Universal Food and Beverage Company is a full-service provider of Universal branded beverages and co-pack private label products for the health-conscious consumer.

Universal owns and operates bottling and hot-fill packing facilities in Independence, VA. The total of 66,000 sq. ft. are utilized for production and warehousing.

The Company continues to develop nutritional, controlled-calorie products that promote a healthy lifestyle. Universal also develops, tests and perfects production systems including new aseptic processing and packaging systems to enhance product quality. The Company's innovative range of products and systems are developed for both domestic and international markets.

This press release may contain statements, estimates or projections that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). Generally, the words "believe", "expect", "intend", "estimate", "anticipate", "project", "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. In particular, this press release contains statements concerning prospects for future financings, results of operations, financial and business projections ,and product development and marketing. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our present expectations or projections. These risks include, but are not limited to, acceptance of the Company's products in the marketplace; changes in the non-alcoholic beverages business environment, including actions of competitors and changes in consumer preferences; adverse weather conditions; our ability to finance expansion plans and general operating activities; regulatory and legal changes; the effectiveness of our advertising and marketing programs; fluctuations in the cost and availability of raw materials; dependence upon third-party vendors; our ability to achieve earnings forecasts; integration of acquisitions; ability to sustain and manage growth; and changes in economic and political conditions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

Contact Information

  • The Financial Globe, Inc.
    Gary Trump
    Investor Relations
    (772) 794-3302