- Current production capacity to increase by over 50%
- Production of new Protidiet and ProtiLife bars to start in Q4
- Acquisition of building located near BarTech postponed
MONTREAL, Oct. 28 /CNW Telbec/ - Ranaz Corporation ("Ranaz")
(TSX-V: RNZ), a company specialized in the manufacturing and marketing of
protein and dietary supplements, announces that it will invest approximately
$300,000 to increase its nutritional bar production capacity at BarTech.
Ranaz estimates that it can increase its current production capacity by
50% to over 40 million bars, which will enable it to manufacture its new
Protidiet and ProtiLife bars at the BarTech plant. The production of these
bars will begin in the fourth quarter of 2008.
"This initiative arises from two objectives: improved profitability and
the sound financial management of our assets," said Jean Bourassa-Marineau,
President and Founder of Ranaz. "This initiative is one of several measures
taken this fall that should enable us to generate savings from vertical
integration and make our operations profitable. Given the current
macroeconomic climate, we opted for a more prudent approach that will generate
a better return on investment in the short term and at the same time reduce
our risk exposure."
Consequently, the Company has postponed to a later date its proposed
acquisition of a building located near BarTech, as it was unable to put in
place an adequate financial structure due to the current financial crisis in
the United States.
About Ranaz Corporation
Ranaz is a corporation specializing in the manufacture and marketing of
protein and dietary supplements. For more information, please visit our
website at www.ranazcorporation.com.
Certain statements contained in this news release, other than statements
of fact that are independently verifiable at the date hereof, may constitute
forward-looking statements. Such statements, based as they are on the current
expectations of management, inherently involve numerous risks and
uncertainties, known and unknown, many of which are beyond Ranaz's control.
Such risks include but are not limited to: the impact of general economic
conditions, changes in the regulatory environment in the jurisdictions in
which Ranaz does business, stock markets volatility, fluctuations in costs,
and changes to the competitive environment due to consolidation, as well as
other risks disclosed in public filings of Ranaz. Consequently, actual future
results may differ materially from the anticipated results expressed in the
forward-looking statements. The reader should not place undue reliance, if
any, on the forward-looking statements included in this news release. These
statements speak only as of the date made and Ranaz is under no obligation and
disavows any intention to update or revise such statements as a result of any
event, circumstances or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Martin Vidal, Executive Vice President and
Chief Financial Officer, Ranaz Corporation, (450) 491-7106, Ext. 213,
email@example.com; François Kalos, President, SOLAK Communications,
(450) 993-0828, firstname.lastname@example.org