WAYNE, N.J., Nov. 23 /PRNewswire-FirstCall/ -- Anscott Industries, Inc.
(OTC: ASCT.OB) today reported first half revenues grew over the first half
2003, and the Company expects increased market share from its new product
lines. Anscott's growth for the current half is a result of strong core
products and an emerging solvent area. Core product segments such as spot
removers grew at a 14%, while detergents, finishes, specialty and filtration
segments remained constant. The net benefit surrounding these segments
contributed to an overall growth of 6% to the Company's results.
"By keeping our focus on end-user needs and seizing opportunities for
growth, we achieved most of our goals for the first half," said Jack
Belluscio, CEO and President of Anscott. "Looking forward, we see continued
favorable fundamentals in cleaning businesses and significant potential in new
cleaning solvents, specialty products, and commercial filter markets.
"Through deployment of Anscott's National Sales Force and our growth plan,
we believe we are well positioned for the second half of the year and beyond
while we continue to make progress on our acquisition strategy," said
Belluscio.
The following sets forth the Company's highlights from the first half:
* Core segment showed double-digit increases in sales from the previous
year; spot removers increased by 14%;
* Total Revenue grew at a rate of 6%, a steady increase to the core
product lines expands the Company's market share;
* National sales force opens new territories, marketing to thousands more
end-users in Anscott's history;
* New cleaning solvents point to the future with increases in volume;
Hydroclene solvent now available in 40% of national distribution
channel and growing monthly;
Positioning the Company for Future Growth
Anscott continues to make long-term investments to improve its world-class
cleaning products. Anscott Industries began work on alternative cleaning
solvents over 20 years ago and believes it has collected the fundamental
knowledge to grow the business today. Work continues on the expansion at the
Company's cleaning solvent group formed late last year. "The new products
introduced this spring, including our readily biodegradable solvent
Hydroclene(R), have spearheaded a steady growth, positioning Anscott for
stronger gains by year end" said Jeff Battiston, Product-line Manager. The
Company is also in varying stages of planning and designing additional
cleaning additives that complement new solvent introductions, over the next
several months.
The Company is aggressively pursuing low-cost opportunities around the
United States and Canada to expand and improve its position in specialty
chemicals for the textile care industry. The Company intends to install new
systems that improve product and customer information for the end-user and
distribution levels. That project remains on schedule and is slated to come
on-line in fall of this year. In 2004, the Company began its national training
program to accelerate the roll-out of the specialty cleaning solvent that are
currently available. Sid Cullingham, National Sales Manager said, "The
strength of our national distribution network and the drive of our technical
sales force are evidenced by the strong acceptance of our new products. We
are leveraging that strength by offering technical product solutions to end-
users."
About Anscott:
Anscott is one of the world's leading manufacturers of detergents that
clean with environmentally friendly technology. Founded in 1960, Anscott is a
leader within Textile Care Industry with traditional detergents, spot
removers, finishing agents, and filtration systems for the fabric care
industry. Anscott maintains a North American distribution channel with nearly
1,000 sales representatives backed by Anscott's dedicated technical sales
team. Anscott sells professional cleaners best available technology for
professional dry cleaning and laundry. Anscott is currently servicing over
5,000 professional cleaners, commercial laundries and government institutions.
Anscott provides technologically advanced cleaning products that are better,
faster and safer than today's methods.
Statements contained in this press release are not based upon current or
historical fact is forward-looking in nature. Such forward-looking statements
are subject to risk and uncertainties, which could cause actual results to
differ materially from estimated results. Management cautions that all
statements as to future results of operations are necessarily subject to risks
uncertainties and events that may be beyond the control of Anscott Chemical
Industries and no assurances can be given that such results will be achieved.
Potential risks and uncertainties include, but not limited to, the ability to
procure, properly price, retain and successfully complete projects, the
availability of personnel, and changes in technology and competition.
Hydroclene is a Trademark of Anscott Industries, Inc.
SOURCE Anscott Industries, Inc.
 back to top
Related links:
http://www.anscott.net
CONTACT:
William Bernard of Anscott Industries,
+1-973-305-8700 ext. 333, wbernard@anscott.net
|
