Thursday, October 01, 2009
310 Holdings Inc. Announces Growth Management Team Additions to Pak-It
NIAGARA FALLS, Ontario, Oct. 1, 2009 (GLOBE NEWSWIRE) -- 310
Holdings Inc. (the "Company") (OTCBB:
TRTN) is pleased to announce that the Company has established a
strong growth management team through the acquisition of Pak-It,
LLC ("Pak-It"), as executives of Pak-It.
Pak-It executives joining the team include Pak-It CEO, Robert G.
Shoemaker; Pak-It founders Geoffrey C. Weber, Richard M. Haber and
Stephen Seneca and Pak-It VP of Operations and Technical Director
Ronald Kurp and Pak-It Vice President of Sales & Marketing
Frank Wiley.
Additionally, the Company is in the process of finalizing the
appointment of a seasoned Chief Financial Officer of the Company,
who will be announced shortly.
Robert G. Shoemaker, CEO of Pak-It, is a seasoned financier and
MBA with an extensive background in commercial banking, consulting,
operational and executive management, development and construction
of residential and mixed-use communities, and workouts of
distressed loans and investments.
Mr. Shoemaker is an active business consultant whose project
advisory, lending, and workout experience include companies valued
at over $800 million. His financial experience dates to the 1980's
and early 1990's when, during the Savings & Loan crisis, he
acted as a bank liaison to regulatory officials, coordinated
internal and external audits and was in charge of handling complex
workouts of prominent Tampa Bay area developers, while employed by
First Florida Bank.
From 1993 to 2003, Mr. Shoemaker was with Mercantile Bank in St.
Petersburg, Florida where his responsibilities began as Vice
President/ Commercial Loan Officer and concluded as Executive Vice
President/Senior Commercial Loan Officer/Senior Credit Officer.
During this period, he was a key part of a dynamic management team
that built Mercantile Bank from an $80 million bank with three
offices in 1993 to a $500 million bank with fifteen offices in
three counties by 2002. In September 2002, the bank was acquired by
The South Financial group and Mr. Shoemaker left the bank in March
2003 to pursue independent consulting and real estate
investment.
Robert G. Shoemaker, CEO of Pak-It commented, "We are very
pleased to join forces with 310 Holdings, Inc. as we recognize the
clear synergy and lucrative revenue potential that exist with our
combined technologies and marketing expertise. Our proven Pak-It
product line and the JBI P2O technology obviously have substantial
global growth potential and we look forward to jointly developing
these markets."
To advance the Company's objectives in corporate restructuring
and grow the Company through mergers and acquisitions, the Company
will utilize Geoffrey C. Weber, CPA who has organized many ventures
for himself and his clients for over 25 years. He has also been
Chief Financial Officer for several multi-million dollar companies,
including franchised operations, where he developed systems and
operating procedures for financial reporting for owners, operators,
and banks. Mr. Weber has an emphasis on real estate development and
operations and he has been involved in over $200 million in loan
and private placements. Mr. Weber began his career as an auditor
with Deloitte and has been a CPA since 1982. Mr. Weber has a
Bachelors of Business Administration from James Madison University
and became a Florida Certified Public Accountant in 1982. He is a
Member of American Institute of CPA's and is an Associate Member of
the Association of Certified Fraud Examiners.
To assist in due diligence and complete the M & A Pak-It
team, Richard M. Haber, Esq. will serve as advisor and consultant.
Mr. Haber has been instrumental in the start up of many ventures;
he develops real estate and is also a practicing attorney in Tampa
since 1981. Prior to forming his law partnership (Cramer, Haber
& McDonald) he was a staff attorney for United States
Congressman William Cramer. Mr. Haber received a Bachelor's Degree
from the University of Florida and JD from American University.
Stephen R. Seneca, President of Pak-It, has a 20-year proven and
successful track record for developing innovative business models
and products in the cleaning industry. His committed passion and
industry knowledge provide a comprehensive platform for significant
growth. Mr. Seneca has been personally responsible for securing
nearly $3,000,000 in Pak-It(TM) sales for the Company in the past 2
years.
Ronald Kurp, Corporate Operating Officer of Pak-It, is an
accomplished Technical/Purchasing/Operations Director with 21 plus
years of experience as a formulator, research & development,
manufacturing, and commercialization of industrial and consumer
products. He brings to Pak-It specific experience in cleaning /
surfactant technology, emulsion polymerization, floor finish, EPA
registered products, aerosols, water-based coatings, electrolytes,
and sealant technology, as well as, proven skills in management,
planning and directing research, testing, production scale up, and
purchasing. Mr. Kurp was also awarded a U.S. Patent on March 11,
2003 for his work.
Frank Wiley, Vice President of Sales and Marketing of Pak-It,
LLC brings over 30 years of sales and marketing experience, with
the last seven focused on the jan/san industry. Wiley has consulted
with other cleaning industry companies such as Kaivac and Prochem.
In 2004, he helped found the Cleaning Industry Research Institute,
the jan/san industry's premier science-based research organization.
He served for two years as CIRI's Executive Director, helping
organize the first Cleaning Science Symposium in 2007.
About 310 Holdings Inc.
John Bordynuik purchased 63% of the issued and outstanding
shares of 310 Holdings, Inc. on April 23, 2009. Subsequently, John
Bordynuik was appointed President and CEO of the Company. John
Bordynuik has returned 10 million shares of his personal stock to
the treasury in June 2009 to make acquisitions. As of September 30,
2009, the Company is profitable, has nearly 95 employees, 2 major
manufacturing facilities and offices in the U.S., Canada and
Mexico, with a head office at 500 Technology Square in Cambridge,
Massachusetts.
On July 16, 2009, 310 Holdings Inc. acquired certain assets of
John Bordynuik Inc., including all of its intellectual property,
its custom tape processing hardware, its Swahili data migration
system, fixed assets, and its current customer base. On September
30, 2009, we acquired Pak-It, LLC, the producer of 42 products,
currently using its patented Pak-It(TM) water-soluble liquid
packets to deliver concentrated glass cleaner, disinfectant, and
many essential multi-purpose cleaning products for use on floors,
carpets, in kitchens, restrooms, and laundry establishments, etc.
shipped in tiny packages of condensed cleaner. In this acquisition
we also acquired a bulk chemical manufacturing and packaging
facility which will manufacture, package, and distribute our
Plastic2Oil catalyst. Our revenue sources presently include (i)
income from reading archived tapes (including microfiche) from
clients such as NASA, (ii) income from the recently acquired
JavaCo, Inc., (iii) income from the sale of Pak-It products, and
bulk chemical facility which we realize beginning October 1, 2009,
and (iv) from the anticipated commencement of operations in the
fourth quarter of 2009 with Plastic2Oil, a process and service that
converts plastic to fuel oil.
For more information, please see http://www.310holdings.com and http://www.johnbordynuik.com and http://www.javacoinc.com and http://www.pakit.com/.
Forward-Looking Statements
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act. The Private
Securities Litigation Reform Act of 1995 (PSLRA) implemented
several significant substantive changes affecting certain cases
brought under the federal securities laws, including changes
related to pleading, discovery, liability, class representation and
awards fees and of 1995. Those statements include statements
regarding the intent, belief or current expectations of 310
Holdings Inc., and members of its management as well as the
assumptions on which such statements are based. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. The Company
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results.
CONTACT: 310 Holdings Inc.
John Bordynuik, President and CEO
john@310holdings.com
Investor Relations
Katie Matkowski
+1 (289) 296-5538
Katie@310holdings.com