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The potential customers are second tier (in terms of size) companies inthe nutraceutical industry. The transactions, as quoted, are valued atbetween $136,000 to $204,000 per month.
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The current capacity of the state of the art plant is 1.5 billion capsulesper year. The plant was designed and built according to the latest cGMPrequirements, in full compliance with both U. S. and China standards. Theplant is capable of expanding capacity to 5 billion sofgel capsules per year.
Mark Meller, CEO of MM2 Group, commented, "We don't typically announcequotes, as opposed to orders. However, the level of activity for new salesquotes in the days since we announced our order with a major player in theindustry has prompted us to release this update. Our plan seems to beworking. Having closed a deal with one of the largest and most prestigiouscompanies in the industry, other, smaller companies are looking to us to takeadvantage of our cost competitive and high quality products. What's excitingis that these transactions are only for a single product, whereas we canmanufacture many other products like Vitamin E sofgels. The marketopportunity is huge. We hope to be in a position to make several excitingannouncements in the near future regarding sales activity from this newventure."
About MM2 Group, Inc.
MM2 Group is involved in the acquisition and build-out of dietarysupplement and nutraceutical companies. The company's growth strategy is toacquire firms in this extensive and expanding but highly fragmented segment asit seeks to create substantial value for shareholders. For more information,contact MM2 Group CEO Mark Meller at (732) 290-0019 or by e-mail [email protected] or Jerry Mahoney at [email protected].
This news release includes forward-looking statements within the meaningof Section 27A of the Securities Act of 1933 and Section 21E of the SecuritiesExchange Act of 1934, as amended, regarding among other things our plans,strategies and prospects -- both business and financial. Although we believethat our plans, intentions and expectations reflected in or suggested by theseforward-looking statements are reasonable, we cannot assure you that we willachieve or realize these plans, intentions or expectations. Forward-lookingstatements are inherently subject to risks, uncertainties and assumptions.Many of the forward-looking statements contained in this news release may beidentified by the use of forward-looking words such as "believe," "expect,""anticipate," "should," "planned," "will," "may," "intend," "estimated," and"potential," among others. Important factors that could cause actual resultsto differ materially from the forward-looking statements we make in this newsrelease include market conditions and those set forth in reports or documentsthat we file from time to time with the United States Securities and ExchangeCommission. All forward-looking statements attributable to MM2 Group, Inc. ora person acting on its behalf are expressly qualified in their entirety bythis cautionary language.
SOURCE MM2 Group, Inc.
