CirTran Hits $80 Million Mark in First-Half New Business Booked with $15.75 Million Contract to Build Sold-on-TV Blow Dryers.SALT LAKE CITY -- CirTran Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CIRT CIRT Computer Incident Response Team CIRT Critical Incident Response Team CIRT Camara Nacional de La Industria de Radio y Television (Mexican Association of Broadcasters) CIRT Central Institute of Road Transport ), an international full-service contract manufacturer of IT, consumer and consumer electronics products, said today that it concluded its record-setting first half of fiscal 2005 by winning another exclusive contract to manufacture products for the sold-on-TV marketplace. The new agreement, signed June 30 with Advanced Beauty Solutions, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (ABS), of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , is to manufacture the True Ceramic Pro (TCP (1) (Transmission Control Protocol) The reliable transport protocol within the TCP/IP protocol suite. TCP ensures that all data arrive accurately and 100% intact at the other end. ) Ionic i·on·ic adj. Of, containing, or involving an ion or ions. ionic pertaining to an ion or ions. ionic medication iontophoresis. Blow Dryers -- both home and travel models -- for ABS. The blow dryers will be manufactured by CirTran-Asia, a CirTran subsidiary in China. The value of the blow dryers contract to CirTran is estimated at $15.75 million, bringing the total of new business won by the U.S.-based parent company and its subsidiaries thus far this year to approximately $80 million. Trevor M. Saliba, executive vice president for worldwide business development of CirTran, said the agreement amended a contract originally signed with ABS earlier this year to build the TCP Infrared Ionic Styler, a popular consumer electronics product also sold on TV via infomercials (see "CirTran Corporation Awarded Record $22 Million Contract to Manufacture Sold-on-TV Product for Advanced Beauty Solutions," Business Wire, February 23). "Extraordinary First Half" "The signing of this agreement -- giving CirTran more than $80 million in new contracts signing this year -- ended an extraordinary first half by any and all measures," said Saliba. "In little more than a year since being founded, our CirTran-Asia subsidiary has become a major player in the made-for-TV consumer and consumer electronics marketplace," he said, "while at the same time CirTran's core IT-oriented manufacturing business in the U.S. has grown as well." "Proving Ourselves in a Tough Marketplace" Iehab J. Hawatmeh, CirTran's chairman, 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. and president, said the company is "proving ourselves in a tough marketplace. "Manufacturing for the sold-on-TV market requires a tight rein on costs without sacrificing quality," he said. "The experience CirTran gained in earning our reputation as an innovator and manufacturer of IT products, including the prestigious ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000 certification for our Salt Lake City facility, has clearly carried over to our Asian operations." "Not Resting on First-Half Laurels" "CirTran considers the tremendous success we've had in winning new business in 2005 as just a great place to start," Hawatmeh said. "We will not be resting on our first-half laurels," he said. "CirTran is working to grow our business while maintaining the high quality standards that helped us stand out from the crowd of those competing for new business in Asia and here in the U.S." About CirTran-Asia CirTran-Asia (www.CirTran-Asia.com) was formed in 2004 as a high-volume manufacturing arm and wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CirTran Corp. with its principal office in ShenZhen, China. CirTran-Asia operates in three primary business segments: high-volume electronics, fitness equipment and household products manufacturing, focusing on being a leading manufacturer for the multibillion-dollar Direct Response Industry, which sells through infomercials, print and Internet advertisements. About CirTran Corp. Founded in 1993, CirTran Corp. (www.CirTran.com) is a premier international full-service contract manufacturer of low- to mid-size volume contracts for printed circuit board assemblies, cables and harnesses to the most exacting specifications. Headquartered in Salt Lake City, CirTran's modern 40,000-square-foot non-captive manufacturing facility -- the largest in the Intermountain in·ter·moun·tain adj. Located between mountains or mountain systems, especially lying between the Rocky Mountains and the Sierra Nevada or Cascade Range in the western United States. Region -- provides "just-in-time" inventory management techniques designed to minimize an OEM's investment in component inventories, personnel and related facilities, while reducing costs and ensuring speedy time to market. This press release contains 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. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. |
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