Protect Pharmaceutical Announces Merger with PUMA
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Sevnica, Slovenia, Jan. 26, 2021 (GLOBE NEWSWIRE) -- PROTECT PHARMACEUTICAL CORP. “OTC:(PRTT)” is pleased to announce an agreement to be acquired by PUMA. PUMA is a cutting-edge polymer packaging corporation operating out of Dubna, Russia since 1992. Currently PUMA utilizes state of the art equipment to produce laminated labeling for a vast array of products including pharmaceuticals, cereals, tea, coffee, frozen vegetables, seasonings, meat products, etc.
Although this focus has been the mainstay of PUMA’s income for decades, it is now expanding operations to include the burgeoning field of food irradiation, packaging and distribution. This technology, (known as RT) is in use world-wide (China is currently certifying 50 plants a year), uses various techniques of radiation to solve problems of food safety and international trade. The process not only kills opportunistic bacteria like salmonella and mold fungi, but also keeps fruits and vegetables stable for longer periods of time, thereby allowing it to be transported farther and more inexpensively. As of this writing the irradiation market is currently rated at 700-800 thousand tons and valued at 2 billion dollars with a steady uptrend.
In keeping with this vision, PUMA intends to branch out into the Vietnamese fish industry, setting up processing plants in Vietnam and the Kuril islands of Russia, where both fresh and frozen fish will be irradiated and packaged for world markets, especially the U.S.A. The proposed staff in Vietnam is 1500 workers and 300 in the Kuril islands. Projected gross revenues from this division of the company are 60-80 million dollars yearly.
Ancillary to this planned expansion is production of facilities to produce self-heating hot dishes. This trend in China and beyond employs an integrated heating pad in the food package that activates upon contact with water and heats the product for consumption. PUMA’s expertise in the packaging industry will facilitate a smooth transition into this emerging market.
PRTT had previously sought a merger with Novgorod Group, however due to Novgorod’s inability to achieve the GAAP reporting standards within reasonable time, PRTT has entered into an alternate merger agreement with PUMA.
Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For more information contact:Protect Pharmaceutical Corp.(801) 432-0405 email@example.comSource: PROTECT PHARMACEUTICAL Corp
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