Vermont Pure Holdings, Ltd. Clarifies That It Does Not Own a Bottling Facility in Randolph, VT
14 Maggio 2008 - 11:02PM
PR Newswire (US)
WATERTOWN, Conn., May 14 /PRNewswire-FirstCall/ -- Responding to
press reports erroneously linking the closing of a water bottling
facility in Randolph, Vermont to Vermont Pure Holdings, Ltd.
(AMEX:VPS), Peter Baker, President and CEO, said, "We at Vermont
Pure and Crystal Rock are aware of the recent plant closing in
Randolph, but we sold that plant, along with our small bottle
retail business, in March 2004." "The buyer of the Randolph
facility was a company called Micropack," Mr. Baker continued, "and
more recently we understand the plant was owned by companies called
Clearsource and Trident." "As a result, the only connection we had
to the Randolph facility and its springs was as a customer. We
licensed the Vermont Pure name to Micropack and bought a small
amount of our water in retail-sized bottles from Micropack and its
successors. But since 2004, virtually all of our business has been
in the Home and Office markets to which we supply water primarily
in 3- and 5- gallon bottles." "Since we currently can not get
product from the bottling facility in Randolph, we have secured an
alternative bottler for that small piece of our business," Mr.
Baker continued. Mr. Baker added, "As Crystal Rock LLC, the
operating company for Vermont Pure, we've been in business
continuously since 1914, providing premier customer service
throughout the Northeast. We employ about 350 people and we are
profitable. We look forward to continuing to exceed our customers'
expectations now and in the future." A fact sheet is attached to
this press release. Note: This press release contains forward
looking statements that involve a number of risks and uncertainties
that could cause actual results to differ materially from those
indicated by such forward looking statements, including integration
of acquisitions, ability to sustain and manage growth, changing
market conditions, and other risks detailed in the company's
filings with the Securities and Exchange Commission. FACT SHEET
Vermont Pure Vermont Pure Holdings, Ltd. is the largest independent
and third largest Home and Office distributor of its kind in the
United States. The Company bottles and distributes natural spring
water and purified bottled water under the Crystal Rock(R) and the
Vermont Pure(R) trademarks through its wholly owned subsidiary
Crystal Rock LLC. It markets its bottled water brands, as well as
coffee and other home and office refreshment products, to customers
throughout New England and New York. Vermont Pure is a public
company traded on the American Stock Exchange under the symbol:
VPS. Facilities Crystal Rock currently sells approximately 94% of
its bottled water in 3- and 5-gallon containers bottled primarily
in company owned facilities in Watertown, CT, White River Junction,
VT and Halfmoon, NY. Sale of Randolph Facility and Associated
Retail-Sized Bottle Business On March 1, 2004, Vermont Pure sold a
segment of its business that bottled and sold water in retail-sized
packages, including a bottling facility and springs in Randolph,
VT, to Micropack Corporation. We believe that ownership in the
facility subsequently transferred to companies known as Clearsource
and Trident. We Have No Relationship to Micropack and Its
Successors Except As Follows: -- We were a customer of the Randolph
facility purchasing bottled water, primarily under the Vermont Pure
Springs brand name, in retail sizes to resell to our own customers.
Sales of these products represent less than 3% of our total annual
sales. -- In connection with the sale to Micropack, part of the
purchase price owed to us was in the form of a note to us from
Micropack and its successors. More information about this note can
be found on the Report on Form 8-K that we filed with the
Securities and Exchange Commission on May 5, 2008, and previous
filings. -- We licensed some of our trademarks to the owner of the
Randolph bottling facility so that water could be bottled there
under the Vermont Pure Springs brand name for sale to Crystal Rock
and various third-party distributors. Vermont Pure's Recent
Financial Results Are Profitable In the fiscal year ended October
31, 2007, Vermont Pure Holdings, Ltd. had sales of $65 million and
net income of $2.1 million, or $.10 per share. For the quarter
ended January 31, 2008, the most recently disclosed quarter, we had
sales of $16.4 million and net income of $512,000, or $.02 per
share. We invest profit back into our business including, in the
current fiscal year, expenditures for solar energy in our
Watertown, CT facility and a substantially newer, more fuel
efficient truck fleet. Vermont Pure and Crystal Rock Outlook We
employ approximately 350 people throughout New England and New
York, and we have no current plans to change that employment level.
We expect to continue to serve our customers, uninterrupted, as we
have since 1914. DATASOURCE: Vermont Pure Holdings, Ltd. CONTACT:
Peter Baker, CEO, +1-860-945-0661, ext. 3001, or Bruce MacDonald,
CFO, +1-802-860-1126, both of Vermont Pure Holdings, Ltd. Web site:
http://www.vermontpure.com/
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