Green Parts International, Inc. Announces Record Second Quarter Sales and Growing International Demand
ATLANTA--July 28, 2005--Green Parts International, Inc. (OTC: GNPT.PK) announced today that sales in first two quarters of 2005 increased over 100% compared to the same time period for the entire four quarters of 2004. Green Parts operates salvage yards and auto parts refurbishment centers in Atlanta where it services domestic and international customers.Green Parts has contracts with operators in the Mid-East, Africa, India and Latin America to supply auto parts and off-lease vehicles. Founded by Atlanta businessman Asif Balagam, Green Parts has expanded its domestic and international sales network to service the high demand for salvage and auto parts.
Mr. Balagam stated "our international operations will continue to increase at record rates based upon a back log of orders. We are looking to acquire a majority interest in a Dubai salvage yard operator and to team up with salvage yards through out the Mid-East with a proprietary web-based order fulfillment program. We believe that our international orders will help us attract new capital and negotiate long term credit facilities. With a 45-90 day sales cycle, we can turn over inventory rapidly which gives us an advantage over the competition since we buy only what we know we can sell. Our international customers continue to give us standing orders for inventory which we are able to secure internally or through a growing supply chain with other salvage yard operators." Additional information about Green Parts is available at www.greenparts.com.
"Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Green Parts International, Inc.'s business which are not historical facts are "forward looking" statements that involve risks and uncertainties, some of which are not currently known to us. Actual events or results may differ materially from those express or implied in the forward looking statements as a result of various factors."