Trading Symbol: MCV
TORONTO, Dec. 10 /CNW/ - McVicar Industries Inc. ("McVicar") is pleased
to announce that its Chinese subsidiary, Zhejiang Hongbo Chemical Co.
Ltd. ("Hongbo") has renewed its supply agreement with DuPont of the USA
for another three years. Hongbo has been a supplier for a product that
DuPont ordered for the past three years. Product quality and delivery
services to the customer have been very satisfactory during that period
of time. In the new agreement, Hongbo is also asked for increased
supply quantity due to increased market demand. This contract will
automatically be extended for two consecutive two year terms if both
"I am very pleased with the positive developments from Hongbo. The
company was able to win an increased confidence from our strategic
customer through its constant efforts in improvement in product quality
and satisfactory customer service", commented Dr. Gang Chai, President
& CEO of McVicar.
This press release contains forward-looking statements which reflect the
Corporation's current expectations regarding future events. The
forward-looking statements involve risks and uncertainties. Actual
results could differ materially from those projected herein. Although
we believe that our expectations are based on reasonable assumptions,
we can give no assurance that our expectations will materialize. The
TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE McVicar Industries Inc.
For further information: For further information:
please contact investor relations eXavier Peterson or Dr. Gang Chai, CEO at: 55 University Avenue, Suite 605, Toronto, ON M5J 2H7 Tel: (416)366-7420 Fax (416)366-7421 www.mcvicar.ca