AGR Tools New Acquisition Experiences Significant Increase in Revenue
New Distribution Centre in San Francisco
AUSTIN, TX, May 24 /PRNewswire-FirstCall/ - AGR Tools Inc. ("AGR") announces that it anticipates that it will announce revenues of its new acquisition AGR Stone & Tools USA, Inc. for the nine months ended March 31, 2010 with a significant increase in revenues over the same period for the preceding year. "We are very pleased with the results from our most recent calendar quarter and anticipate continued increases in revenues for the final quarter of our fiscal year ended June 30, 2010. With the growth in revenue being generated and the ongoing fund raising being done by management, we are now in the process of beginning to fulfill the over $2 million in backorders we have accumulated," stated Rock Rutherford, President & CEO of AGR.
AGR is also pleased to announce that it has expanded its distribution network into San Francisco. AGR now has a presence in Northern California, an instrumental market for construction related projects. The San Francisco distribution center will service general contractors, granite fabricators, concrete contactors, stonemasons, tile contractors, and other construction professionals with high quality diamond tools. This market has an annual diamond tool industry of over $8 million. "We are very excited to have representation in the San Francisco market," further stated Rock Rutherford. "Northern California is a key market for us and a significant step in securing market share for AGR in the multi-billion dollar diamond tool industry." As the only major distributor of diamond tools that markets and distributes its products directly to their customers, AGR has a major advantage over its competition. By selling directly, AGR plans to control a quarter of the approximately $8 billion North American diamond tool market. "Our goal is 25% of the market which equates to $2 billion in sales. As our distribution network continues to grow, that goal is becoming more and more a reality."
About AGR Tools, Inc.
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AGR Tools, Inc. is a public company with its common stock quoted on the OTC Bulletin Board under the symbol AGRT and the Berlin and Stuttgart Stock Exchanges under the symbol LVSA.
About AGR Stone & Tools USA, Inc.
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AGR Stone & Tools USA, Inc., a wholly owned subsidiary of AGR Tools, Inc., is a major supplier of diamond tools and adhesives. It specializes in producing consumable tools for the natural stone, engineered stone, concrete and masonry industries, and its goal is to provide its clients with superior quality products, excellent customer service and the most competitive prices in the diamond tool industry. The company has completed extensive research and testing, and uses the latest technologies to assure it is at the forefront of the diamond tool industry. The company also employs some of the world's top scientists, engineers and metallurgists to produce the highest quality diamond tools for the construction industry.
More information on AGR Stone & Tools USA, Inc. can be found at: www.agrtools.com.
Forward-Looking Statements:
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Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See AGR Tools, Inc.'s filings with the United States Securities and Exchange Commission which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE AGR Tools Inc.
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