Global General (GLGT) ITI Bio Tech Agreement with Marketing Company in Florida for Distribution of Sport Product to USA Universities

MONTREAL, Nov. 3 ITI-Dstrbtion-cntract
MONTREAL, Nov. 3 /PRNewswire-FirstCall/ - Global General Technologies (GLGT:PK) (www.glgt-corporate.com) subsidiary ITI signs agreement with marketing company in Florida for distribution of their sport product to the US Universities. ITI Bio Tech focuses on improvement of the air quality in the residential, commercial and industrial sectors and the management sees great market potential for their effective and convenient product. Management believes that this product will strike a cord with the university management and students.
ITI Bio Tech products offer unparalleled efficiency in odor elimination. For over 10 years ITI has been manufacturing their own formulas that are biodegradable and environmentally safe. All ITI's products are tested and certified by independent laboratories.
In other company news GLGT is using this opportunity to update its followers and shareholders that the merger with the China Plastic wood manufacturing and distributing company continues to proceed. Both sides are progressing with their due diligence stage and the completion of this step is set for Dec 4, 2009. The merger should be finalized shortly thereafter soon after the due diligence stage completion and well ahead of the yearend holiday season.
The merger-targeted company, China Plastic Wood Company enjoys revenues of about $3 million USD annually, and shows a pretax profit margin of about 20%. China Plastic Wood Company is a manufacturer and a distributor, occupying approximately 15,000 sq feet of operating and manufacturing facilities. It employs approximately 100 full and part time employees, manufacturing the environmentally friendly and recyclable "Plastic Wood". The end product is sold as park benches, storage sheds and various outdoor durable gardening utilities and similar, to name a few.
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SOURCE Global General Technologies, Inc