| Biopack Finalizes Agreement to Expand Production Capacity |
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HONG KONG--(Marketwire - August 24, 2007) - Biopack Environmental Solutions Inc (OTCBB: BPEV) is pleased to announce that a finalized agreement has been reached with Tayna Environmental Technology Co. Ltd. ("Tayna"). This agreement allows Biopack to increase its production capacity by an expected 320 million units per annum. Tayna (formerly known as 'Svena') will set up a production facility to exclusively produce Biopack's 100% biodegradable product. Tayna will also purchase equipment, pay consultation fees and a royalty fee for the usage right of the production technologies of Biopack's packaging products.
Biopack will provide Tayna with their technical expertise, equipment, project planning, training, raw materials and full after sales support. Biopack will also continue to be responsible for quality assurance of the brand and will be responsible for all sales of the produced product. Production is scheduled to commence in the Tayna production facility by Q4 of 2007. This agreement is set to last two years and will allow Biopack's production facility which is already producing at full capacity to keep up with demand for their 100% biodegradable product until the new production facility "Biopark" comes online over the next two years. Biopark will consist of 4 modern factory blocks set on 6.6 acres of land in Jinagmen, China. Phase I is expected to begin operations as soon as the 4th quarter of 2007. Source: Marketwire Bookmark this page!      |
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