HOUSTON, Dec. 28, 2004 (PRIMEZONE) -- Eternal Technologies Group Inc. (OTCBB:ETLT) today announced that it plans to send a senior delegation to the United States beginning on February 28, 2005. During the visit, the representative management team will meet potential business partners and consultants, explore potential locations for a factory, meet with its auditor to complete the 10K and also attend the livestock show in Houston.
The initial goal of the trip will be to set up a representative office in the United States. In 2005, the company plans on keeping a senior management person in the United States on a full time basis. The duties for this new position will be to communicate with potential business partners, to continue to enhance communication with investors, as well as to work closely with all regulatory authorities in the United States.
In addition, the company plans on investigating the possibility of setting up a permanent manufacturing facility in the United States. The factory will exist initially for the purpose of manufacturing the newly-acquired cancer detection technology. The Company is in the process of filing additional patents for the technology as well as discussing the requirements to manufacture and market the technology in the United States and European markets. The Company has received invitations from the states of New Jersey, California and Nevada to build a factory in their states for the manufacturing of biomedical equipment. It is the primary mission of the delegation to choose a location for the factory.
Finally, the company will meet its auditors in the United States to complete its 10K filing on a timely basis. While in Houston, the management team will also attend the livestock show.
"As Eternal continues to grow and prosper, it is extremely important that we begin to develop a presence in one of the most important markets in the world," said Mr. JiJun Wu, Chairman of Eternal Technologies Group Inc. "With the acquisition of our newly-acquired cancer detection technology, we believe there is a tremendous opportunity for Eternal in the healthcare sector. We plan on building a factory in the United States. We also want to have a senior employee in the United States on a full-time basis to communicate with potential business partners and investors. We remain very excited about the future of our company."
The information contained in this press release should be read in connection with the company's Quarterly Report filed on Form 10-QSB for the quarter ended September 30, 2004 and its Annual Report filed on Form 10-KSB for the year ended December 31, 2003.
About Eternal Technologies
Eternal is a major agricultural genetics and biopharmaceutical R&D firm operating in China with the support of the Chinese Government. Eternal's animal breeding division has a strong asset base, cash position and net income. Eternal has become one of China's leading institutions for biopharmaceutical and biotech research, pure breed cultivation and breed stock production. The Company has secured a key market niche by commercializing gene engineering technologies and providing superior breeding stock, allowing China's citizens the ability to improve their living standards. With the world's largest population, a double-digit national growth rate and entry into the WTO, Eternal Technologies has a playing field set for tremendous opportunity. As a prominent player in the agricultural genetics industry, cash in the bank and an untapped market, Eternal has the potential to become a major player in China's national growth.
In addition, Eternal has recently completed the acquisition of E-Sea Biomedical Engineering Co. International, Ltd. As a result of the acquisition, Eternal now owns an extremely promising breast cancer detection technology which can be offered at fractions of the costs of competing technologies.