Vital Products, Inc. Moves to Acquire Den Packaging Corporation
Concord, Ontario, Canada, 17 September 2008 -- /PRNewswire/ -- Vital Products, Inc. (OTC Bulletin Board: VTLP - News), a multichannel innovator in the industrial packaging sector, announced today that it has signed a Letter of Intent to purchase Montreal-based Den Packaging Corporation. Established in 1972, Den Packaging Corporation has booked annual revenues of more than CAD 1.75 million for the past several years and solid net profits. The company currently intends to pay a combination of restricted company stock and a note for the acquisition. The company anticipates that the transaction will be finalized over the next six to eight weeks.
"The addition of Den Packaging Corporation will undoubtedly strengthen our standing in the industrial packaging sector," said Michael Levine, Vital Products chief executive officer. "Their corporate directive and extent of industry reach and respect lends extremely well to our mandate. As we continue developing new product lines that can be licensed to several industrial sectors our exceptional team continues to gain momentum exploring several niches and developing exciting revenue streams."
Vital Products, Inc. is a distributor of industrial packaging products. The company plans to identify and invest in emerging market segments in the industrial packaging sector and to research and develop products it can patent and license in the environmentally sustainable packaging markets.