Industry News

Circle Group Commemorates Opening of New Production Facility With Ribbon Cutting Ceremony

Published on 2004-08-26. Author : SpecialChem


MUNDELEIN, Ill. -- Circle Group Holdings, Inc. announced that it will commemorate the opening of its new production facility in Mundelein, Illinois with an official ribbon cutting ceremony. The eco-compliant facility will be capable of producing up to one million pounds annually of Z-Trim(TM), the all-natural, zero calorie, patented fat replacement product invented at the United States Department of Agriculture and exclusively marketed by Circle Group and its FiberGel Technologies, Inc. subsidiary. In addition, the plant will also be able to produce up to ten million gallons of Z-Bind(TM) adhesive resin and polymer extenders for use by the plywood, concrete and construction industries.

The plant will have three production lines which are capable of running three eight-hour shifts. During the first few weeks of production, the plant will operate at approximately 25% of capacity, but will be capable of producing at full capacity within a few months and employ up to 16 people. The facility will be able to produce Z-Trim(TM) in four different production formats of powder, emulsion, gel, and Z-Trim Blends, allowing Circle Group to sell the product to either consumers or food companies. The location can also produce up to 83 million pounds of Z-Bind(TM). The estimated cost to build the facility was $3 million.

"This facility dramatically changes the Company's ability to satisfy the growing demand for Z-Trim(TM) and Z-Bind(TM)," said Greg Halpern, President and CEO of Circle Group Holdings. "We are gratified by the strong interest that consumers and leading food companies have expressed in our products and now we have a state-of-the-art facility that will be capable of supporting the company's growth."

Some of the dignitaries scheduled to attend the ribbon cutting ceremony include Marilyn Sindles, the Mayor of Mundelein; Dr. Richard Greene, Headquarters Director of the U.S. Department of Agriculture (USDA); Dr. Adrianna Hewings, Midwest Director of the USDA; Illinois State Senators "Kathy" Ryg and Terry Link; Phil Crane, U.S. Congressman from the 8th District; Richard Tolman, President of the National Corn Growers Association and Brenda Sherwood, a representative of Illinois Governor Rod Blagojevich. Circle Group's National Spokesperson for Z-Trim(TM), six-time Ms. Olympia Cory Everson, will also attend the event.

At the event, the Company will highlight the versatility of Z-Trim(TM) by serving lasagna, garlic bread, cheese cake, brownies and ice cream, all made from the patented fat replacement product.

"We are pleased that so many officials, politicians and industry leaders are able to join us today to recognize this important event in Circle Group's history," added Halpern. "In just two years, we have been able to move from concept to commercialization."

About FiberGel Technologies

FiberGel owns the worldwide rights to Z-Trim for all fields of use. Invented over many years by Outstanding Senior Research Scientist Dr. George Inglett at the United States Department of Agriculture (USDA), Z-Trim is a patented, zero calorie, multi-functional, fiber food ingredient from corn that lowers carbs, calories, and fat in most foods without affecting taste or texture.

About Z-Amaize Technologies, Inc.

Z-Amaize is a wholly owned subsidiary of Circle Group Holdings created to market its line of Z-Bind industrial adhesive resin and polymer extenders for use by the plywood, concrete and construction industries. Z-Bind emerged from research performed by its FiberGel Technologies product development group and represents a new line of affordable and environmentally friendlier adhesives.

About Circle Group Holdings, Inc.

Circle Group Holdings, Inc., is a pioneer of emerging technology companies. The Company provides small business infrastructure, funding and substantial intellectual capital to bring important and timely life-changing technologies to market through all early phases of the commercialization process.

Forward-Looking Statements

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.

Source: Circle Group Holdings, Inc.

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