Avery Sports Turf Announces Acquisition and Patent Filing
MINNEAPOLIS--(BUSINESS WIRE)--Dec. 23, 2003--Avery Sports Turf, Inc. (Pink Sheets: AVST), an artificial turf manufacturer, today announced it has purchased the building in Rome Georgia, as well as the proprietary and manufacturing assets of a company previously operating under the same name. The building is a 107,800 square ft. built in 1928 and equipped with machinery for production of the Company's turf products. The Company will manufacture its newest turf product, PolylonTurf(TM), which combines polyethylene and nylon yarn fibers and provides improved top-fill retainment, thereby reducing the amount of infill that escapes into the air above the turf surface. The Company has simultaneously filed a U.S. patent application for PolylonTurf(TM).
According to Gary Borglund, President and CEO of AVST, "This acquisition greatly improves our ability to respond to increasing product demand, particularly for our newest product, PolylonTurf(TM), which should do well in light of the growing and widespread use of synthetic turf products in the sports and leisure industries. Our PolylonTurf(TM) patent (applied for) will not only protect this proprietary technology but will also increase the Company's presence in the industry. The patent filing and manufacturing facility acquisition will solidify AVST's position as a leader in the development of quality artificial surfaces for sports, daycare and landscaping applications. Due to the significant interest we are experiencing for the PolylonTurf(TM) product, AVST is making plans to ramp up its production at the acquired facility in Georgia."
Henry County Georgia Business
About Avery Sports Turf, Inc.
AVST designs, manufactures and markets innovative artificial turf surfacing materials for athletic, commercial and residential use. The Company's products are applied to playing fields, tennis courts, fall zones in childcare facilities, and residential and commercial landscaping areas in drought affected areas of the United States. The products are designed to be attractive, durable, maintenance free and environmentally friendly.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.