House & Home
House and Home
House and Home 
Wed, January 6, 2010
FACT Corporation Updates Shareholders on Growth Initiatives
KATY, TX--(Marketwire - January 6, 2010) - FACT Corporation (
FACT Corporation CEO, Jacqueline Danforth commented, "2009 was a pivotal year for the Company as we have created and commenced implementation of a comprehensive, long term strategic plan to drive future growth. The Company has laid the groundwork for exciting growth opportunities starting in Q1 of this year."
Moving forward, FACT will be focusing on three strategic pillars:
(1) growing the existing FACT base of business by (i) increasing business with existing customers through the introduction of new products and, (ii) establishing distribution in new channels, and (iii) obtaining new customers by undertaking a retail initiative under FACT's own Nutrition First™ brand;
(2) entering the Diabetic market with a line of customized baked goods that will meet the taste and health needs of diabetic consumers, as well as consumers at risk for diabetes; and,
(3) acquiring synergistic companies that will drive revenue and EBITDA.
To implement this comprehensive growth plan, FACT retained a highly qualified consultant, Mr. Brad Hunsaker, to provide executive-level operational management support to FACT in the role of acting COO. Mr. Hunsaker holds an MBA from the University of Utah. Brad worked for Procter and Gamble and Eastman Kodak, working in both domestic and overseas markets. For the past 8 years Mr. Hunsaker has been involved in private equity transactions, acquisitions and divestitures. He was involved in the successful sale of Paragon Trade Brand to Tyco International, and most recently was Executive Vice President Sales and Marketing for SVP Worldwide (owner of the Singer sewing machine brand). His extensive experience developing and successfully implementing strategic objectives will be instrumental to FACT's strategy.
Ms. Danforth further commented, "FACT also continues to rely on the vast expertise and continuing efforts of its Board members, Dr. Brian Raines and Mr. Paul Litwack. Having such a knowledgeable and hands-on Board is an invaluable resource to a smaller operating company such as ours that is poised for rapid growth."
Mr. Paul Litwack is an experienced chief executive currently serving as Chairman and CEO of DA-TECH Corporation, an electronic manufacturing services company. Previously Mr. Litwack served as Chief Executive Officer of Frankford Chocolate & Candy Company, Vice President-Marketing/Sales of Northfield Foods Inc., Director of New Products and then the Director of Frozen Desserts for Kraft General Foods' Dairy Products Division. Mr. Litwack earned a BSc in Engineering from Brown University in 1976 and an MBA from the Wharton School of Finance and Commerce in 1978.
Dr. Brian Raines has spent 40 years in various scientific and technical positions in the food industry including various roles as a consultant providing basic scientific research adaptation in the specific area of nutraceuticals and functional foods. Dr. Raines served as Vice President of Technical Services for Unilever Canada/Lipton, Director of Research and Quality Control for Unilever/Lawry's Foods and various technical management positions for Mars Inc., Berthelet and Leger. Dr. Raines has chaired various committees of the Institute of Food Technologies/USA and was awarded the distinguished service award for the Q.A. Division in 1992. Dr. Raines has a BSc from Concordia Montreal and a Ph.D. from North Carolina State University. He is also a Fellow of the Canadian and American Institutes of Food Technology.
FACT has also hired highly qualified sales professionals, is expanding its ongoing product development work to meet the needs of new and existing customers, and is expanding its product line to meet its planned retail product launch under our Nutrition First™ brand during Q1 2010. The Company expects to continue to provide progress reports as we move into 2010 and meet key benchmarks set out in our strategic plan.
About FACT Corporation
FACT has been engaged in the healthy lifestyle market since 2002. Operating through our wholly-owned subsidiary, Food & Culinary Technology Group Inc., we develop and market customized nutrition solutions created for the global baked-goods industry. Presently, our core products are proprietary specialty bake mixes, which we sell to commercial producers who use these mixes to manufacture popular, health-friendly packaged baked goods. These items target a rapidly-growing, increasingly-sophisticated consumer marketplace focused on quality, taste and nutrition. Our customers market their finished products (foods we all love to eat, such as bagels, brownies, muffins and cookies) through both conventional and alternative distribution channels, including branded and private-label retail opportunities, as well as foodservice and specialty markets. For more information about FACT and its products, please visit [ www.factfoods.com ].
DISCLAIMER
Forward-Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a 'forward-looking statement' within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.