RALEIGH, N.C., Aug. 24, 2004 (PRIMEZONE) -- HydroFlo, Inc. (OTCBB:HYRF) today announced that its subsidiary, HydroFlo Water Treatment, has become an approved vendor for ConAgra Foods, the Omaha, Nebraska based packaged food company that is reported to own and control over 2000 food processing plants in the United States.
Obtaining the status of approved vendor will allow HydroFlo Water Treatment the ability to provide any ConAgra processing or packaging plant with the proprietary HydroFlo aeration equipment. The HydroFlo system will be useful in any plant which treats process water with a dissolved air flotation unit or in a lagoon and will provide better aeration with reduced energy costs.
ConAgra serves consumer grocery retailers, as well as restaurants and other foodservice establishments. ConAgra Foods consumer brands include ACT II, Armour, Banquet, Blue Bonnet, Brown 'N Serve, Butterball, Chef Boyardee, Cook's, Crunch 'n Munch, DAVID, Decker, Eckrich, Egg Beaters, Fleischmann's, Golden Cuisine, Gulden's, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, Knott's Berry Farm, La Choy, Lamb Weston, Libby's, Life Choice, Lightlife, Lunch Makers, MaMa Rosa's, Manwich, Marie Callender's, Orville Redenbacher's, PAM, Parkay, Pemmican, Peter Pan, Reddi-wip, Rosarita, Slim Jim, Snack Pack, Swiss Miss, Van Camp's, Wesson, Wolf, and many others.
"We are pleased that ConAgra Foods has recognized the benefit of our aeration technology and are looking forward to having a company with ConAgra's profile to our client list. With its designation as an approved vendor, HydroFlo anticipates presenting our proprietary technology solution to every ConAgra subsidiary company and building our customer base through this association," said Tom Barbee, COO of HydroFlo Water Treatment, Inc.
HydroFlo, Inc. CEO, Dennis L. Mast, commented, "The addition of the ConAgra family of food companies to HydroFlo Water Treatment's potential client base is a significant step, and we will continue to pursue additional opportunities to build revenue in our subsidiary companies and increase the value of HydroFlo's investment portfolio."
About the Company
HydroFlo, Inc. (www.hydroflo.us) is a Business Development Company, as defined by the Investment Act of 1940. Headquartered in Raleigh, North Carolina, HydroFlo's core focus is to seek out synergistic acquisitions that will provide capital appreciation and income from its portfolio companies. Its first portfolio investment company, HydroFlo Water Treatment (www.hydroflo-inc.com) is in the business of providing aeration equipment used for the pre-treatment of wastewater. Using the patented Pressure Line Up-Stream or PLUS pre-treatment system, HydroFlo Water Treatment provides customers a pre-treatment process at their pumping stations, prior to the wastewater reaching a treatment plant. The company also provides a full range of related services to companies and municipalities to treat their wastewater at the treatment plant by the use of the energy efficient aeration systems in treatment lagoons.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.