HOUSTON and OTTAWA, Nov. 13 /PRNewswire-FirstCall/ -- Sports and Nutritional Supplements developer and manufacturer Natural Nutrition (OTC Bulletin Board: NTNI) announced today that the company's primary operating subsidiary, Interactive Nutrition International, Inc. (INII) has signed a five year exclusive contract for manufacturing and distribution of the company's products throughout the European Union with Sigurdur Arnason and companies owned by Sigurdur Arnason. The contract calls for minimum purchases of $6,000,000 (CDN) in 2009, increasing annually up to $15,000,000 (CDN) in 2013.
Tim Connolly, CEO of the Company stated, "Since taking over INII out of receivership in June, 2007, we have focused on expansion of the Company's existing manufacturing capabilities and sales to maximize shareholder value. Due to the outstanding work of our INII team, we are proud to report that with this contract and other new business in development, we expect to double the size of INII revenues in 2009 versus revenues since our takeover of it last year. We appreciate the faith of Arnason's in INII, and look forward to a record year in 2009."
About iNutrition, InterACTIVE Nutrition, and Natural Nutrition Inc.
iNutrition.com and InterACTIVE Nutrition International Inc. (http://www.interactivenutrition.com) are wholly owned subsidiaries of Natural Nutrition, Inc. (OTC Bulletin Board: NTNI) and were previously minority owned by Corporate Strategies Merchant Bankers. InterACTIVE Nutrition is a manufacturer and international leader in sports and nutritional supplements backed by over 12 years of research, development and sales of sports nutrition products in over twenty countries throughout the world.
This press release contains forward-looking statements, which involve known and unknown risks, uncertainties or other factors that could cause actual results to materially differ from the results, performance or other expectations implied by these forward-looking statements. Natural Nutrition's expectations regarding future sales and profitability assume, among other things, stability in the economy and reasonable growth in the demand for its products, the continued availability of raw materials at affordable prices, retention of its key management and operating personnel, as well as other factors detailed in Natural Nutrition's filings with the Securities and Exchange Commission. The forward-looking statements, assumptions and factors stated or referred to in this press release are based on information available to Natural Nutrition today.
|SOURCE Natural Nutrition, Inc.|
Copyright©2008 PR Newswire.
All rights reserved