Barrington Foods International, Inc. Announces Vietnam Joint Venture With First Shipment to Vietnam Scheduled for March 2002.Business Editors LAS VEGAS--(BUSINESS WIRE)--Feb. 27, 2002 Barrington Foods International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BFII) announced today that its Board of Directors approved the 50/50 joint venture in Vietnam and Thailand together with the establishment of a representative office in Ho Chi Minh City Ho Chi Minh City, formerly Saigon, city (1997 pop. 5,250,000), on the right bank of the Saigon River, a tributary of the Dong Nai, Vietnam. . The joint-venture partner is a privately owned food distributor based in Ho Chi Minh City with offices also in Hanoi. With over 10 years experience, the joint-venture partner will distribute Barrington's food products, including infant, toddler, and adult formulas to retail outlets throughout Vietnam. Vietnam has a population of over 77 million people and is the size of Kentucky, Ohio, and Tennessee combined. Trade relations with Vietnam have normalized with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with "American" made products in high demand. The first container of products to Vietnam is scheduled for March 2002 shipment out of the Port of Oakland The Port of Oakland was the first major port on the Pacific Coast of the United States to build terminals for container ships. It is now the fourth busiest container port in the United States; behind Long Beach, Los Angeles, and Newark. , CA. To date, the Company has received purchase order invoices for $47,000 (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) in products at wholesale from the joint venture. The Company is establishing banking and financial relationships for the issuance of international Letters of Credit to facilitate the shipment of product to Vietnam and other parts of Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. . Further information concerning Barrington Foods is available at its website www.barringtonfoods.com. 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. This Press Release includes projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this Press Release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations are disclosed in this Press Release, including, without limitation, in conjunction with those forward-looking statements contained in this Press Release. |
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