RENO, Nev., Feb. 23, 2005 (PRIMEZONE) -- Meg Athletic Corp. (Pink Sheets:MEGJ) is currently in progressive talks with one of the largest textile manufacturing companies in India -- Sriyansh Garments PVT Ltd. This deal will consist of Meg being supplied with apparel of unsurpassed quality, from one of the most reputable textile firms in the world.
"The firm we are currently in discussion with has compiled knitwear for some of the most dominant and recognized brands in the mid to upper echelon of the fashion marketplace," states Mr. Harvey Panesar, President of Meg Athletic Corp. "We are proud to be involved with a company who, like us, believes in uncompromised quality."
Mr. Panesar is also in discussions with one of the major distribution companies in India for the Meg apparel line, which also represents many of the top foreign apparel companies in India. "We are trying diligently to align ourselves with the right channels to give Meg the kick start that it requires in a country with such an emerging middle class," states Mr. Panesar.
"The growth in India is phenomenal. The emerging middle class is defining the future for India and since they look west for fashion trends, we knew we had to align ourselves with the right people and get our crosshairs aligned before we left the gates. And who better to align ourselves with than a company that is already blazing a trail for high-end U.S. fashions in India," further states Mr. Panesar.
"India's fashion economy is one of the fastest growing in the world, I am confident and pleased that we at Meg could be a part of it."
Forward-Looking Statements
The management of the company, who take full responsibility for its content, prepared this press release. Statements in this news release concerning the company's business outlook or future economic performance, anticipated profitability, revenues, expenses, or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties and factors include, but are not limited to, future capital needs, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, and general economic conditions.
For more information please visit www.megathletics.com or contact at (780) 707-0587