CirTran Hits $80 Million Mark in First-Half New Business Booked With $15.75 Million Contract to Build Sold-on-TV Blow Dryers

Business Wire

CirTran Corp. (OTCBB: CIRT), an international full-service contract manufacturer of IT, consumer and consumer electronics products, said today that it concluded its record-setting first half of fiscal 2005 by winning another exclusive contract to manufacture products for the sold-on-TV marketplace.

The new agreement, signed June 30 with Advanced Beauty Solutions, LLC (ABS), of Los Angeles, is to manufacture the True Ceramic Pro (TCP) Ionic Blow Dryers -- both home and travel models -- for ABS. The blow dryers will be manufactured by CirTran-Asia, a CirTran subsidiary in China.

The value of the blow dryers contract to CirTran is estimated at $15.75 million, bringing the total of new business won by the U.S.-based parent company and its subsidiaries thus far this year to approximately $80 million.

Trevor M. Saliba, executive vice president for worldwide business development of CirTran, said the agreement amended a contract originally signed with ABS earlier this year to build the TCP Infrared Ionic Styler, a popular consumer electronics product also sold on TV via infomercials (see "CirTran Corporation Awarded Record $22 Million Contract to Manufacture Sold-on-TV Product for Advanced Beauty Solutions," Business Wire, February 23).

"Extraordinary First Half"

"The signing of this agreement -- giving CirTran more than $80 million in new contracts signing this year -- ended an extraordinary first half by any and all measures," said Saliba.

"In little more than a year since being founded, our CirTran-Asia subsidiary has become a major player in the made-for-TV consumer and consumer electronics marketplace," he said, "while at the same time CirTran's core IT-oriented manufacturing business in the U.S. has grown as well."

"Proving Ourselves in a Tough Marketplace"

Iehab J. Hawatmeh, CirTran's chairman, CEO and president, said the company is "proving ourselves in a tough marketplace.

"Manufacturing for the sold-on-TV market requires a tight rein on costs without sacrificing quality," he said. "The experience CirTran gained in earning our reputation as an innovator and manufacturer of IT products, including the prestigious ISO 9001:2000 certification for our Salt Lake City facility, has clearly carried over to our Asian operations."

"Not Resting on First-Half Laurels"

"CirTran considers the tremendous success we've had in winning new business in 2005 as just a great place to start," Hawatmeh said.

"We will not be resting on our first-half laurels," he said. "CirTran is working to grow our business while maintaining the high quality standards that helped us stand out from the crowd of those competing for new business in Asia and here in the U.S."

About CirTran-Asia

CirTran-Asia (www.CirTran-Asia.com) was formed in 2004 as a high-volume manufacturing arm and wholly owned subsidiary of CirTran Corp. with its principal office in ShenZhen, China. CirTran-Asia operates in three primary business segments: high-volume electronics, fitness equipment and household products manufacturing, focusing on being a leading manufacturer for the multibillion-dollar Direct Response Industry, which sells through infomercials, print and Internet advertisements.

About CirTran Corp.

Founded in 1993, CirTran Corp. (www.CirTran.com) is a premier international full-service contract manufacturer of low- to mid-size volume contracts for printed circuit board assemblies, cables and harnesses to the most exacting specifications. Headquartered in Salt Lake City, CirTran's modern 40,000-square-foot non-captive manufacturing facility -- the largest in the Intermountain Region -- provides "just-in-time" inventory management techniques designed to minimize an OEM's investment in component inventories, personnel and related facilities, while reducing costs and ensuring speedy time to market.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.

More Like This:
Cimage