Jul 26 2010
Safetek International, Inc. (Pink Sheets: SFIN) announced today that it has acquired a controlling interest in Newave Packaging Inc., a Delaware Corporation and is attempting to secure working capital finance to develop and expand Newave Packaging's business.
Safetek seeks to introduce to the markets a new non-toxic and non-PVC food film packaging without known harmful trace elements, and other packaging products. Safetek International hopes to capture a share of the food packaging industry and aspires to set new standards for 'green' products used within the industry as a whole.
Pursuant to the acquisition, the President of Safetek International, Inc., Shmuel Shneibalg, will join the board of Newave Packaging Inc. as President, Secretary and Treasurer. End Stefan Gudmundsson will continue as CEO of Newave Packaging Inc.
Commenting on the acquisition, the President of Safetek International, Inc., Shmuel Shneibalg, said that "This acquisition marks the start of our new business strategy, and we are extremely excited by the potential that Newave Packaging will bring to Safetek International's growth plans."
The CEO of Newave Packaging Inc., Stefan Gudmundsson, said: "In Safetek we have found a strong and supportive partner to help grow and expand our revolutionary new film packaging products and meet the demands of the food packaging industry for alternative more environmentally friendly products."