MONTREAL, Nov. 25, 2005 (PRIMEZONE) -- ADSERO Corp. ("ADSERO") (OTCBB:ADSO), a North American leader in the printer cartridge remanufacturing industry, today announced the expansion of its strategic relationship with The Turbon Group and the appointment of two new members of the Board of Directors.
In another step toward building on the recently announced completion of ADSERO's 10% ownership stake in Turbon AG ("Turbon") and the previously announced ADSERO-Turbon Strategic Supply Agreement, the companies announced today a Strategic Cooperation Arrangement to explore joint initiatives, acquisitions and investments that can build concurrent value for both companies and leverage each other's competencies and relationships.
In addition, ADSERO announced the appointment of John S. Ioannou, Vice President, New Ventures with The Turbon Group and Aldo C. DeLuca, Managing Director, Finance and Operations, Turbon International as members of the Board of Directors of ADSERO, effective November 14, 2005.
Commenting on today's announcement, Donald Page, Chairman of the Board of ADSERO said, "I am very excited about the addition of Messrs. DeLuca and Ioannou to the Board of ADSERO and the expansion of the relationship between ADSERO and Turbon as we continue to build an industry-leading global position."
As the companies strengthen their industry positions, the respective management teams will continue to evaluate the optimal financing strategy, alternatives and timeframe to complete the previously announced acquisition of Turbon at a time that is beneficial to the shareholders of both companies.
About Turbon AG
Turbon AG (http://www.turbon.de ), through its subsidiaries, develops, produces and distributes compatible imaging supplies for Laser, Inkjet, Dot Matrix and Thermal Transfer printers. Turbon operates production plants in Europe, Asia and the U.S. and had revenues of approximately EUR 123 million for fiscal 2004.
About ADSERO Corp.
ADSERO Corp. (http://www.adserocorp.com ), through its wholly owned subsidiary Teckn-O-Laser Global Company, is a North American leader in the printer cartridge remanufacturing industry. The company manufactures and distributes remanufactured toner cartridges and inkjet cartridges. These products are sold to a variety of channels such as distributors and retail office supply stores, both domestically and internationally.
To find out more about ADSERO Corp. (OTCBB:ADSO), visit our website at http://www.adserocorp.com.
Safe Harbor Statements
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the Company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the Company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the Company's periodic filings with the Securities and Exchange Commission.