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BP International, Inc. and UTEK Corporation Announce Strategic Alliance Agreement for Technology Transfer
BP International (OTCBB:BPIL), a leading manufacturer of athletic equipment and fabric architecture shade shelters and pavilions, and UTEK Corporation (AMEX:UTK) (LSE-AIM:UTKA), an innovative technology transfer company, announced today the signing of a strategic alliance agreement.
Larry Ball, BP International's Chairman and Chief Executive Officer said, "We are enthusiastic about executing a strategic alliance agreement with UTEK Corporation. The numerous innovative ideas we have for improving our products and expanding our market will now be given priority. We believe that by working with UTEK we will be able to implement a technology acquisition program that will allow us to accelerate our growth through the acquisition of university discoveries."
"UTEK looks forward to working with BP International to identify potential technology acquisition opportunities that fit its strategic vision," commented Clifford M. Gross, Ph.D., Chairman and Chief Executive Officer of UTEK.
Through its strategic alliance agreements, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice.
About BP International, Inc.
BP International, Inc. is a leading manufacturer of fabric architecture shade structures and cabanas, tennis court equipment, athletic field and gymnasium equipment, custom netting, and outdoor fabrics for use in privacy and construction fencing. For more information, please visit its website at: http://www.BPInternational.com.
About UTEK(R) Corporation
UTEK(R) is a leading, market-driven technology transfer company that enables companies to rapidly acquire innovative technologies from universities and research laboratories. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities, while allowing research institutions to receive 100% of the royalties. This unique process is called U2B(R). UTEK transfers proprietary technologies with potential commercial applications to companies seeking product differentiation resulting in a strategic marketplace advantage. UTEK has operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at http://www.utekcorp.com.
BP International Announces the Shade Structure Contract for Atlanta Tennis Center; Unique, Collaborative Effort Between Company's Various Product Divisions
DELAND, Fla.
BP International
Rick Bailey, 386-943-6222
http://www.bpinternational.com/
BP International, Inc. (OTC Bulletin Board: BPIL), manufacturing fabric architecture shade structures and pavilions, and tennis court and athletic field equipment since 1987, announces the contract to manufacture shade structures for James Creek Tennis Center in Atlanta. The contract, valued at $23,003, calls for two large bleacher covers and one 68' waterproof walkway cover.
"This job demonstrates the synergistic nature of our various product lines," said Larry Ball, BP International CEO. "Many customers from one division have the potential to cross-over to other product lines once they experience the attributes that set our company apart: the quality of our product and customer relations ... the way we work very hard to ensure the customer is always satisfied. Part of our growth plan has always been to build upon the foundation we already have, which is an extremely high customer retention rate. So part of our marketing strategy is to purposefully move, for instance, our fence customers into fabric structures, and vice-versa.
"At James Creek Tennis Center, the lead came from one of our tennis distributors in the Atlanta Area. He knew that this client, for whom he had built a stadium clay court, also wanted shade structures. He recommended our ShadeZone product, and they called us. We sent out our new independent sales person, who lives and works in that area. Now, one of our fence contractor customers will be installing the structures. It's an example of the collaborative network we have going between our customers and our sales force.
"Another note of importance has to do with the nature of the sale. Shade structures over bleachers and/or walkways at a tennis facility is part of a growing phenomenon within that industry. Not very long ago, shade was not considered necessary at a tennis court, even a very prominent facility. Now, shade is a must. It's a trend we anticipated with our Court Cabana back in the 1990's. Part of our marketing effort has been to educate our fence contractor and tennis contractor customers about the potential for them to sell shade with every project they undertake. At James Creek, that educative effort has paid off for the tennis contractor, the fence contractor, and for us."
BP International Announces the $177,552 Contract to Manufacture Fabric Shade Structures for Parkland Golf and Country Club; Contract Calls for 21 Different Structures For Tennis Court and Poolside Shade
DELAND, Fla.
BP International
Rick Bailey, 386-943-6222
http://www.bpinternational.com/
BP International, Inc., (OTC Bulletin Board - BPIL), manufacturing fabric shade structures and pavilions and tennis court and athletic field equipment since 1986, announces the contract to manufacture 21 ShadeZone(R) fabric shade structures for Parkland Golf and Country Club in Parkland, Florida. The contract totals $177,552.
The job was brought to BP International by one of the company's long-time tennis court customers, Gator Court Construction, Inc. in Delray Beach, Florida, which will also be installing the structures.
"I've been doing business with Larry Ball at BPI since 1986," said Scott Miller at Gator Court Construction. "This is our first project selling and installing the ShadeZone(R) product, but it's a product that makes sense for us. Everywhere you turn people are talking about sun over-exposure. They just won't sit in the sun any more. The ShadeZone structures have been very well received, and there is a big market for this product."
BP International Announces Fourth Quarter Revenue up 25% over 2004; ShadeZone Division Sales up over 100%
DELAND, Fla.
BP International
Rick Bailey, 386-943-6222
http://www.bpinternational.com
BP International, Inc. (OTC Bulletin Board: BPIL), announces 2005 fourth quarter company-wide revenues, $2,039,521.00, are up 25 percent over 2004 fourth quarter, which was $1,619,553.00. In the company's ShadeZone(R) Division, fabric architecture shade structures and pavilions, 2005 last quarter revenues totaled $416,907.00, up more than 100 percent from 2004 last quarter revenues, which were $202,214.00.
"Our numbers have been steadily increasing for the past 18 months, so we knew we'd finish our 2005 fiscal year with some real strength," said Larry Ball, BP International CEO. "I credit a good part of our growth this last year to our focus on introducing and building a distributor network throughout the country. In a relatively short time, we have trained distributors covering 15 key states, ranging from coast to coast all the way to Hawaii, and north and south from Florida to New England. Most of these independent distributors are just getting their feet wet with our products, so their influence on our revenue is just beginning to have an impact. The program is, so far, as successful as we'd hoped, and we are receiving inquiries from potential distributor prospects on a weekly basis."
BP International Independent Shade Structure Representative Shows Dramatic Growth in Sales
DELAND, Fla.
BP International
Rick Bailey, 386-943-6222
http://www.bpinternational.com
BP International, Inc. (OTC Bulletin Board - BPIL) announced that Rep Services, Inc., an independent representative for BP International's fabric structure products, sold approximately 59% of their last year's total sales in the first four months of this year. Rep Services, representing playground equipment in Florida since 1989, became an authorized distributor for BP International's ShadeZone(R) products, fabric architecture shade shelters and pavilions, at the end of 2003, one of the first such companies to participate in BPI's new independent distributor program, and one of the most successful.
"So far this year, we have sold $191,814 in shade structure volume, which is approximately 59% of our total shade structure volume for the entire year of 2004," said J.T. Almon, Rep Services founder and president. "Although this is a very small part of our company's overall sales right now, we consider fabric shade structures to be a big part of the future growth opportunity for us. We have been watching fabric structures since 1989, because the idea of fabric structures made a lot of sense in the park and recreation and school environment. We watched the industry, evaluating the opportunity, and finally decided to get involved. We chose to work with BP International because they build a good product at a fair price and give fast, accurate service.
"The primary reason we decided to add shade structures to the products we rep is because we recognized the unlimited applications for this medium in our markets. It is a very good match for us, and we have committed company resources to ensure we are successful with it."
"Fabric structures breathe," Almon added. "They look good. Building departments are just beginning to understand fabric structures, and their nuances, which is why we are beginning to see a serious growth spurt in the use of these structures. What we already know is that, the more fabric structures we build, the greater an understanding exists, and the more in demand they become."
"Rep Services is a very successful company with an excellent reputation," said Larry Ball, BP International CEO. "When they approached us to investigate our distributorship program, we knew they would be as successful representing fabric structures as they have been representing playground equipment. What is most worth noting has to do with our long term vision for the ShadeZone division, and how the distributor program fits into that vision. Rep Services only does business in Florida, and they are selling a lot of shade structures. There are 49 other states. With just one such quality company distributing our ShadeZone line in every state, the growth potential for this one product division is simply phenomenal."
About BP International, Inc.:
BP International, Inc. (BPIL) is a leading manufacturer of fabric architecture shade structures and cabanas, tennis court equipment, athletic field and gymnasium equipment, custom netting, and outdoor fabrics for use in privacy and construction fencing. The company recently introduced ShadeZone(R) shade structures, an expanding line of standard and custom, permanent and portable, fabric architecture to reduce heat and block UV rays on playgrounds, golfing facilities, zoos, baseball and football complexes, theme parks, parking lots, car dealerships, outdoor concessions, pool sides, etc.
Customers include Arena Football, Boston Red Sox, Houston Astros, New England Patriots, and many colleges, universities and sports complexes throughout the United States. For more information, please visit our website at: www.BPInternational.com
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.
