Cuisine Solutions Establishes New Line of Credit Agreement; Company to Use Cash to Help Support US Growth.ALEXANDRIA, Va. -- Cuisine Solutions, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CUIS CUIS Cumberland Island National Seashore (US National Park Service) CUIS Cardiff University Islamic Society (United Kingdom) .OB) established a new line of credit for $2.5 million with the Bank of Charles Town in West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. . Although year end and fourth quarter numbers have not yet been released, as of the third quarter of fiscal year 2004, Cuisine Solutions US had a 38.6% increase in sales growth of their fully cooked upscale food business compared to the same three quarters of fiscal year 2003. "As sales grow rapidly in the US, so does the near term cash requirements to purchase more items such as raw materials, and cash requirements for the reality of higher receivables from our sales," states 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. Stanislas Vilgrain. "Growth in Europe continues to be supported by our own internal cash flow." "We feel Cuisine Solutions is a well managed and innovative company with a very positive future," explains David Irvin, Senior VP of Bank of Charles Town. "They have been showing solid growth since their recovery from losing much of their airline and hotel and convention business after September 11, 2001. They have also now diversified into new channels such as retail, restaurant chains The following is a list of restaurant chains. See also: Fast-food restaurant, Casual dining, List of reference tables. International
About Cuisine Solutions Cuisine Solutions is the preferred global supplier for innovative, ready to serve cuisine redefining the benchmark for superior food quality and safety. Headquartered in Alexandria, VA., with production facilities in Europe and North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , the company creates for its customers, at a good value, fully cooked, restaurant quality entrees and sauces that are ready in minutes right from the freezer -- to retail, banquet, transportation, military and restaurant channels worldwide. Visit Cuisine Solutions online at www.cuisinesolutions.com. Cuisine Solutions recently won the gold and bronze medals at the 2004 Mercury Awards. The Mercury Award is the most prestigious award in in-flight catering sponsored by the International Flight Catering Associations (IFCA IFCA Independent Fundamental Churches of America IFCA International Funboard Class Association IFCA International Flight Catering Association IFCA Illinois Fire Chiefs Association IFCA International Forum of Catholic Action IFCA Internal Functional Configuration Audit ) and the International Inflight Food Service Association (IFSA IFSA Institute for Study Abroad IFSA International Fuzzy Systems Association IFSA Investment and Financial Services Association (Australia) IFSA International Frequency Sensor Association IFSA Inflight Food Service Association ). This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements reflect the intent, belief or current expectations of the company and members of the management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements reflecting changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. |
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