ALBUQUERQUE, N.M., Feb. 1, 2005 (PRIMEZONE) -- Humatech, Inc. (OTCBB:HUMT) President and CEO David Williams reported today that the company has built, and placed into full time production, a new plant adjacent to its existing production facility here. The new plant is producing the company's Agri-Hume product in granular form. Shipments are scheduled to begin tomorrow, with first orders going to Humatech's European Union distributor, Humatech, Ltd.
"We have a long queue of customers, some of whom have used Agri-Hume powder in the past, as well as at least two major national fertilizer blenders, who have been patiently waiting for this product," stated Mr. David Caney, Managing Director of Humatech Ltd. "It became apparent from customer feedback last year that significant volumes in sales would be possible with a granular product, and that large-scale customers, such as the fertilizer blenders, would also prefer to offer their customers our product in granular form. One of the first customers to take delivery is a large farming cooperative by the name of Mole Valley Farmers, with 2004 sales of $250 million. They will be blending Agri-Hume into their own fertilizer blends for their farming clients. Additional orders will be going to our strategic partner J & H Bunn, with 2004 sales of $190 million, as soon as additional product reaches our docks."
Williams said the demand for the granular dry product is stronger than expected, which prompted the company to go into production as soon as possible. "We have more to do at the plant, with additional processing and faster, more automated bagging equipment to install in the next few weeks. This will further improve production rates and delivery capabilities for each of our dry product lines," Williams said.
"Customer acceptance is strong, and our sales revenues continue to increase quarter over quarter from the previous year. The demand is expected to grow consistently throughout the months and years ahead as our fertilizer dealers and farmers are able to distribute our newly granulated and dust-free Agri-Hume as a stand alone, easily applied product, and also integrate more of our Agri-Hume into their fertilizer blends.
"After working in the crop side of the business for more than 25 years, this new granulated Agri-Hume is, for me, a personal dream come true," the CEO concluded.
Humatech, Inc. manufactures all natural nutrient solutions for plants and animals, produced from a proprietary process described as "Iso-Molecular" technology. The company markets Promax(r) to the animal feed industry, and also has an agricultural product line, which it markets in the USA and Europe, as well as its newly developed Organic Advantage(r) retail product line, which consists of 12 organic based liquid products ranging in size from a 4oz. Planting Solution, to a 2 1/2 gallon Lawn Food.
Certain information contained in this news release may include 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. While these statements are made to convey the company's progress, business opportunities and growth prospects, readers are cautioned that such forward looking statements represent management's opinion. Actual company results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect the business prospects of the company and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission.
For additional information regarding the company, and its product lines, please visit http://humatech.com