Nitar Signs Letter of Intent to Acquire Allsafe Cable Co.
MISSISSAUGA, ON, Sept. 12 /PRNewswire-FirstCall/ — Nitar Tech Corp. (‘NITAR”: OTCBB: NCHP), a company focused in the acquisition, development and marketing of innovative and advanced technologies, is pleased to announce the signing on August 31st, 2007 of a Letter of Intent to Purchase the company AllSafe Cable Co. Ltd. (‘ACC’), an established manufacturer of wire and cables based in Taipei City, Taiwan. The NITAR Board of Directors also stated that the company is approaching the completion of its thorough due-diligence review and preparations are underway to finalize a definitive Purchase Agreement.
About AllSafe Cable Co.
Established in 2005, ACC has its core business as the manufacturing of wire and cable products necessary for linking connectors used in; digital signal transmission for PC systems and peripherals, communication devices, industrial automation control and home appliances. Since inception, AllSafe Cable Co. Ltd. has positioned itself as one of the top manufacturers’ supplying the worldwide demand for IT cabling. The company’s current customer list includes Hewlett-Packard and Sony. Total projected revenue for 2007 is US $18 million.
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the company’s business include, but are not limited to, fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the company’s SEC reports.
NITAR Tech. Corp.
CONTACT: Nitar Tech Corp., Luiz O. Brasil, President and Director,Telephone: (905) 824-5306, Fax: (866) 585-1408, luiz-bbrasil@choozmail.com,http://www.nitartech.com/