MIAMI–(BUSINESS WIRE)–March 5, 2003–BEVsystems International Inc.(OTCBB:BEVI) announced today that Wasser Merger Inc, its Master Distributor for Latin America and the Caribbean, has signed an agreement with Crescendo Enterprises to sell Life O2 in Panama. The contract with Crescendo includes minimum purchase requirements of 12, fifty-five foot trans-ocean cargo containers the first year, 24 containers the second year and 84 containers in the third year of the contract. Crescendo has a network of distributors that will deliver Life O2 to retail outlets throughout Panama. The first container will be delivered to Panama this month.
The Life O2 product for Panama will be produced in Puerto Rico by BEVsystems’ co-packer, ERICA International or at BEVsystems’ current plant in Clearwater under the management of Wasser. G. Robert Tatum, BEVsystems Chairman & CEO says, “Our new business model is working. Outsourcing manufacturing and adding additional international distributors are key components in our plans to reduce product costs and to improve gross margins by eliminating direct sales expenses.”
Wasser’s sister company, ERICA International, controlled by Wasser’s Chairman Hermann Burkhardt, is a bottler of premium purified water. They have produced and distributed bottled water products throughout the Caribbean to large multi-national clients including Sam’s Club, Intercontinental Hotels, Westin Hotels, and Hilton Hotels as well as being the only certified bottler for the US Navy in Puerto Rico. ERICA is the only bottler in the Caribbean that is completely vertically integrated including its own blow molding equipment to manufacture plastic bottles for in-house bottled water production.
Hermann Burkhardt says, “The agreement with Panama is an important step in our plans to roll-out Life O2 throughout Latin America and the Caribbean. We anticipate announcing the distribution of Life O2 in other Latin American markets in the very near future.”
About BEVsystems International Inc.
Miami-based BEVsystems International Inc. (OTCBB:BEVI) is a fast-growing leader in the premium beverage industry. With sales in 22 countries, the success of its flagship Life02 SuperOxygenated Water brand, infused with up to 1,500 percent more oxygen via patented process and technology innovations, underscores BEVsystems’ commitment to research and technology to deliver superior quality beverage products. A recently published peer review study in The European Journal of Medical Research details the medical benefits of oxygen-enriched water. Visit http://www.bevsystems.com.