Globus International Resources announces agreement with Russian distributor - JSC Estrella.NEW YORK--(BUSINESS WIRE)--May 8, 1997--Globus International Resources Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : GIRC GIRC Georgetown International Relations Club ) reported today that its Subsidiary Globus Foods International Inc. has signed an agreement with JSC JSC Johnson Space Center (NASA) JSC Joint Stock Company JSC Java Studio Creator JSC Joint Steering Committee JSC Joint Standing Committee JSC Journal of Symbolic Computation JSC Joint Scientific Committee Estrella, a Russian food wholesaler, to distribute the company's Belgian products into Russia and the other republics of the Commonwealth of Independent States Commonwealth of Independent States (CIS), community of independent nations established by a treaty signed at Minsk, Belarus, on Dec. 8, 1991, by the heads of state of Russia, Belarus, and Ukraine. Between Dec. 8 and Dec. . The agreement calls for the distribution of Belgian confectionery products, baked goods, delicatessen products, meats, coffee, and butter. It is estimated that the contract will initially provide Globus with annual revenues exceeding $1.5 million. Serge Pisman, 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 of GIRC stated "We are extremely excited about our relationship with Estrella. Their distribution network will allow us to establish a foothold in new areas of the former Soviet Union as well as enhance our reputation with suppliers in Belgium." The company recently reported revenues of $7,083,530 for a six month period ended March 31, 1997 with a net income of $113,224 or $0.03 cents per common share. Globus International Resources Corp. is a wholesale distributor exporting goods from U.S. and Western European manufacturers into the former Soviet Union known as the Commonwealth of Independent States (CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S ). Its wholly-owned subsidiary, Globus Foods International Inc. supplies dairy products, seafood, meats, and various other consumer and food products. Through its subsidiary, Shuttle International Corp., it supplies, construction material, automotive parts, and western style clothing and apparel. CONTACT: The Fincom Group Investor Relations Rick Stahl, 212/754-2030 |
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