Post by Franko10 ™ on Sept 29, 2004 19:48:00 GMT -5
Crystalix Group International Announces Expansion into Australia
WEDNESDAY, MARCH 31, 2004 03:14 PM
LAS VEGAS, Mar 31, 2004 (BUSINESS WIRE) -- Crystalix Group International's (OTC BB: CYXG) executive management team has accelerated its international expansion strategy and will develop new retail locations throughout Australia, beginning in the next 60-90 days. "To this end, Crystalix is in the process of incorporating an Australian subsidiary that intends to develop up to 10 operating units within the next 24 months. Project value is estimated at approximately US$2 million," affirmed Tamer Muftizade, CFO, Crystalix's European division.
"The company's short-term and long-term growth plans continue to accelerate ahead of forecast as evidenced by significant new market development in South Africa, Dubai, Turkey and Singapore," stated John J. Lais III, Crystalix chief marketing officer. "CGI's emphasis on international expansion in critical markets throughout the world has been encouraging and management believes the timing is right to enter the very lucrative Australian market. Individuals and corporations are becoming familiar with Crystalix's proprietary 2D and 3D patented and licensed laser technology, development of new revenue channels through licensed products and entertainment channels, building the company's brand and visibility in a rapidly emerging industry," he explained.
About Crystalix Group International Inc.
Crystalix is a leading manufacturer, distributor and marketer of laser subsurface engraved optical-quality glass products. Its principal product is a personalized three-dimensional engraved crystal that features the facial image of one or more persons or other three-dimensional images. As of Sept. 30, 2003, Crystalix had 44 kiosks owned by its marketing partners in retail shopping malls, resorts, promenades, casinos, cruise ships and theme parks where its crystals are engraved and sold. Its engraving process involves the use of a high-resolution digital camera, a laser image scanner, and a laser that is configured together by a standard desktop personal computer, using its proprietary software and a Windows operating system. The laser image scanner converts images from the digital camera, a customer's digital image, or a hard copy photograph into a three-dimensional or two-dimensional digitally formatted image that will be engraved into the center of the crystal by the laser.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
SOURCE: Crystalix Group International Inc.
CONTACT: Crystalix Group International Inc., Las Vegas
Chris Hanneman, 702-740-4616
www.crystalixusa.com
or
Princeton Research Inc.
Michael King, 702-650-3000
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.
WEDNESDAY, MARCH 31, 2004 03:14 PM
LAS VEGAS, Mar 31, 2004 (BUSINESS WIRE) -- Crystalix Group International's (OTC BB: CYXG) executive management team has accelerated its international expansion strategy and will develop new retail locations throughout Australia, beginning in the next 60-90 days. "To this end, Crystalix is in the process of incorporating an Australian subsidiary that intends to develop up to 10 operating units within the next 24 months. Project value is estimated at approximately US$2 million," affirmed Tamer Muftizade, CFO, Crystalix's European division.
"The company's short-term and long-term growth plans continue to accelerate ahead of forecast as evidenced by significant new market development in South Africa, Dubai, Turkey and Singapore," stated John J. Lais III, Crystalix chief marketing officer. "CGI's emphasis on international expansion in critical markets throughout the world has been encouraging and management believes the timing is right to enter the very lucrative Australian market. Individuals and corporations are becoming familiar with Crystalix's proprietary 2D and 3D patented and licensed laser technology, development of new revenue channels through licensed products and entertainment channels, building the company's brand and visibility in a rapidly emerging industry," he explained.
About Crystalix Group International Inc.
Crystalix is a leading manufacturer, distributor and marketer of laser subsurface engraved optical-quality glass products. Its principal product is a personalized three-dimensional engraved crystal that features the facial image of one or more persons or other three-dimensional images. As of Sept. 30, 2003, Crystalix had 44 kiosks owned by its marketing partners in retail shopping malls, resorts, promenades, casinos, cruise ships and theme parks where its crystals are engraved and sold. Its engraving process involves the use of a high-resolution digital camera, a laser image scanner, and a laser that is configured together by a standard desktop personal computer, using its proprietary software and a Windows operating system. The laser image scanner converts images from the digital camera, a customer's digital image, or a hard copy photograph into a three-dimensional or two-dimensional digitally formatted image that will be engraved into the center of the crystal by the laser.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
SOURCE: Crystalix Group International Inc.
CONTACT: Crystalix Group International Inc., Las Vegas
Chris Hanneman, 702-740-4616
www.crystalixusa.com
or
Princeton Research Inc.
Michael King, 702-650-3000
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.