MARION, N.C., Sept. 10, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Greene Concepts, Inc. (OTC: INKW) (greeneconcepts.com) (“Greene Concepts” or the “Company”), an emerging leader in the global scientifically formulated beverage industry, has released a progress update on the revitalization of the Company’s 60,000 square foot beverage and bottling facility in Marion, North Carolina. The Company faced a series of unexpected delays in the reopening of the facility during recent summer months. The impediments have now been overcome and Green Concepts anticipates an early autumn timeframe for the grand reopening. The Company also wishes to highlight a new marketing and distribution emphasis in the lucrative Southeast Asia bottled water market.
“The Company initially anticipated a grand reopening for the bottling facility in the midsummer months,” stated a company spokesperson. “However, any complicated project like the renovation and reopening of a 60,000 square foot bottling plant will have many moving parts, some of which come into proper alignment easily, and others less so. In the end, we encountered what economists like to call the Pareto Principle, with a few small remaining items taking a disproportionately long time to complete after 95% of the project was already done.”
Operations management decided not to unduly rush the completion date and risk compromising adherence to the highest standards that have governed the project throughout the renovation. A grand reopening event for shareholders is being planned for early autumn at the plant.
Karen Howard, CEO of Greene Concepts commented, “Taking your time to do things right can produce unexpected opportunities. We utilized this time to our benefit, initiating the planning process to ensure the plant meets all inspection criteria, and laying the groundwork for meeting regulatory requirements for functional foods and dietary supplements. The ability to thoughtfully plan for expansion of current good manufacturing practices (cGMPs) will actually accelerate our planned entry into these highly lucrative arenas.”
The decision to maintain a methodical pace in completing plant renovations also provided an opportunity for the Greene Concepts executive team to revisit optimal distribution strategies for the Company’s scientifically formulated beverages as well as premium bottled water.
In addition to domestic market growth, the Company plans for expansion into the swiftly growing Southeast Asia market, which includes Singapore, Indonesia, Thailand, Malaysia and Vietnam. Indonesia represents the largest market in the region and is the fourth largest national population in the world.
A recent report from “Research and Markets” reveals several illuminating facts about the strong opportunity in the region for Western bottled water companies: one out of ten non-alcoholic beverages consumed in the region in 2016 was bottled water, with the number growing as the local populace increasingly substitutes bottled water for soft drinks to cut down on sugar and caloric intake. Many countries in the region are classified as “newly industrialized” with consumers that have rapidly growing discretionary income and prefer to patronize US and European beverage brands due to the perception that the water is of higher and safer quality. Prominent bottled water players in the region include Danone, Coca-Cola, Nestle and PepsiCo. The same report from “Research and Markets” forecasts the Southeast Asia bottled water market to reach USD $39.48 billion by 2024 growing at a CAGR of 11.39% during the forecast period (2019 – 2024).
The efforts of the Company to expand distribution in the Southeast Asia market is garnering a response from interested distributors. Of particular note, Greene Concepts is currently in the initial phase of talks with a premium beverage distributor that supplies a high visibility grocery and convenience store chain. The chain services over 3 million customers daily from over 10,000 locations in Southeast Asia. Greene Concepts hopes to be able to disclose more details in the near-term future.
All of this activity combines to directly benefit our bottom line and maximize shareholder value as we aggressively pursue the most lucrative and efficient markets for our Premium Bottled Water Products. The Company recently submitted applications for Trademarks on two of the Company’s subsidiary’s Mammoth Ventures premier launch of its Premium Water brands. Keen observers will also note that taking this extra time to properly complete our plant renovation has inadvertently pushed our upcoming grand reopening into the fall, historically a prime investment season. Many seasoned investment veterans believe that greater levels of liquidity pour into capital markets in the Fall months after the slower months of summer, thus also providing increased opportunities for our shareholders.
About Greene Concepts, Inc. and Mammoth Ventures Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company. Through its recently acquired wholly-owned subsidiary, Mammoth Ventures Inc., the Company has entered into the specialty beverage and bottling business.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Greene Concepts, Inc.