PORTLAND, Ore., Oct. 22, 2003 (PRIMEZONE) -- Nettel Trading Corporation, a wholly owned subsidiary of Nettel Holdings, Inc. (OTCBB:NTTL) today announced that it has recently completed a large shipment of non-ferrous Metals to China.
This metals shipment and others will add to Nettel Holdings' overall revenues and profitability in the current and upcoming quarters.
Payments for this transaction are via letter of credit, payable upon presentation of the bill of lading and invoice. A bill of lading is generally issued within 3-5 days after the ship leaves the dock.
The Chinese refining industry depends on the import of minerals from abroad, particularly waste and recycling scrap. Currently, China is one of the largest processors of ferrous & non-ferrous scrap metals in the world and it is the preferred raw material source for many metal producers and manufacturers.
For more information, please visit our website at www.netteltrading.net or www.usmetals.net.
About Nettel Trading
The Nettel Trading Corporation group of companies have been active for the past year in the importing, trading and marketing of raw materials, chemicals, stainless steel, aluminum, nickel alloys, engineering plastics, papers, special & tool steel products. These products find their way into the following industries:
-- Mineral, Chemical and Petrochemical. -- Pharmaceutical and Microelectronics. -- Dairy, Food and Beverage. -- Paper Industry and Textiles. -- Electronics and Electric. -- Building Construction and Architecture. -- Agricultural Technology and Irrigation. -- Industrial Plant Construction and Maintenance. -- Aircraft and aviation industries. -- Printing and sign fixing.
About Nettel Holdings
Nettel Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, the most important of which are Telecommunication and Software. The wholly owned subsidiaries of Nettel Holdings are Nettel Telecom International, VoipXchange.net, and EnTec Software. In addition, the Company operates Nettel Trading, which offers the trading of Metals, Chemicals, and other commodities.
Safe Harbor
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital, and effectively compete against similar companies.