Anviron Completes Sale of US Product Distribution Rights to NuEarth
Oct 03, 2009 (Close-Up Media via COMTEX) --
Company: Anviron Holding Co/The (ANVH)
The Anviron Holding Company, a manufacturer and marketer of "Clean & Green" products and technology, announced the completion of the sale of its USA subsidiary Anviron Corp. to NuEarth Corp., a Florida registered Company.
Over the past six months, Anviron has been negotiating with several large channel distribution Companies for the sale, marketing and distribution rights for the Anviron product lines. In order to best develop these wholesale and retail markets in the US and Canada, on 3 June 2009 Anviron Holding Company entered into the sale of its USA subsidiary the Anviron Corp. to NuEarth Corp. "This reorganization will allow Anviron to focus on its core international business, and allow NuEarth Corp. to focus on building a North American market for our products," said Steve Young, Anviron's CEO and acting CEO for NuEarth Corp.
As conditions of the sale, NuEarth Corp. will have the exclusive US, Canada, and Caribbean Islands distribution and sales rights to the entire Anviron Product Lines. "NuEarth Corp. will complete the channel distribution agreements with third-party vendors over the next few weeks, and we will begin to build a staff base to accommodate the sales volume," said Young.
"We're proud to announce that pursuant to the Purchase Agreement negotiated between the Companies, the 25 million shares in NuEarth that represent the purchase price for the transaction will be distributed directly to the shareholders of Anviron Holding Company (OTCpk.ANVH) as a stock dividend based on the voting rights of the shareholders as of 14 September 2009," said Young. NuEarth Corp. (OTCpk.NUEC) will be filing a stock registration with the SEC for these shares within the next few weeks as it completes its audits for 2007 and 2008.
Anviron is a company dedicated to bringing to market "Clean Solutions to Complex Problems" by offering a range of biodegradable, environmentally friendly products and technologies that will substitute for many of the hazardous chemicals commonly used all over the world.
More Information: http://www.anviron.com
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Company: Anviron Holding Co/The (ANVH)
Related terms: canada, caribbean, ceo, chemicals, florida, manufacturer, market, marketing, products, retail, sales, technology, wholesale
