BCT International, Inc. Announces Business Depot Decision on Vendor Agreement.Business Editors FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Jan. 10, 2001 Business Cards Tomorrow Inc., a Florida Corporation ("BCT BCT Brigade Combat Team BCT Basic Combat Training BCT Best Conventional Pollutant Control Technology (EPA) BCT Business Cards Tomorrow BCT Banque Centrale de Tunisie (Central Bank of Tunisia) ") and subsidiary of BCT International (Nasdaq:BCTI BCTI Business Computer Training Institute BCTI Battlefield Control Terminal Interface ) announced today that Business Depot, which operates 176 office supply stores in Canada, has notified the Company of its intent not to renew its vendor agreement with Business Cards Tomorrow, Inc. for 2001. This decision, which is effective beginning January 29, 2001, directly affects the eight BCT franchises in Canada. Sales to Business Depot locations in 2000 amounted to approximately 1.6% of the total sales of the BCT Network of Franchises. "We believe this decision by Business Depot was the result of a vendor consolidation initiative by Business Depot's parent company", said Peter Gaughn, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Management is currently working with the Canadian franchise owners to identify opportunities to replace this business." BCT International, Inc. is a holding company which operates Business Cards Tomorrow, the world's largest wholesale printing chain. The company is headquartered in Fort Lauderdale, and its common stock trades on Nasdaq under the symbol "BCTI." This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. |
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