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Company Plans to Enlarge Manufacturing Facility, Increase Capacity Further
Heritage Worldwide, Inc. (OTC Bulletin Board: HWWI), a top provider of pre-filled
breast implants worldwide, announced that in order to meet increased demand
worldwide for its breast implants, it is expanding its manufacturing
capacity to accommodate the 38 percent increase in demand projected for
fiscal 2007 -- to 145,000 units, from 105,000 units for fiscal 2006.
Jean-Claude Mas, Chairman and CEO of Heritage Worldwide, commented,
"The progress we've made since March 2003 has been consistently on target
and more than satisfactory. Our recent success is due primarily to the
increase in the number of countries where we've been marketing our implants
(new sale authorizations). In particular, we made substantial headway into
Brazil and Argentina. We continue to do well in Europe, and have made
significant inroads into Australia and Asia. We are very pleased to report
our substantial growth and look forward to increasing our capacity even
further in 2008 and beyond."
Heritage Worldwide sells its products directly in France and Spain, and
through distributors in 63 other countries. Its focus is on Asia and the
Latin American markets, which the Company believes are growing very
The Company plans to expand its clean room to increase production
levels. This expansion will increase manufacturing capacity 275 percent --
from 160,000 units to 600,000 units per year, enabling Heritage Worldwide
to focus on its new products.
"Each product in our pipeline is truly innovative and already in
various stages of development," added Mr. Mas. "Moreover, excluding breast
implants which are Class III, our other pipeline products are Class II B,
so each will be able to receive a CE mark more quickly, generally
During fiscal 2006, Heritage Worldwide announced new product
initiatives as follows:
* a breast implant filled with a specially engineered hydrogel that
mimics the physical properties of silicone gel, which will be a
substitute for silicone gel,
* an innovative dermal-filler, for the elimination of wrinkles and
* an anatomical breast implant,
* silicone-rubber body support implants (testicular, buttock and calf),
expected towards the end of 2007, and
* perhaps its most innovative product, a breast implant that uses
nanotechnology to coat and totally seal the implant with titanium,
expected during the second half of 2009.
About Heritage Worldwide, Inc.
The Company is incorporated in the State of Delaware. The Company's
subsidiaries develop, manufacture, and market breast and other body
implants and body support products worldwide. One of the Company's
subsidiaries, PIP France, maintains its production facility in the Toulon
metropolitan area in Southern France, with a distribution facility in
Cautionary Language Concerning Forward-looking Statements
All statements included in this release, other than statements or
characterizations of historical fact, are forward-looking statements. These
forward-looking statements are based on current expectations, estimates,
projections about our industry, management's beliefs and certain
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"could," "potential," "continue," and similar expressions and variations,
or negatives of these words. In addition, any statements that refer to
expectations, projections, or other characterizations of future events or
circumstances, including any underlying assumptions, are forward-looking
statements. These forward looking-statements speak only as of the date
hereof and are based upon the information available to us at this time.
Such information is subject to change, and we will not necessarily inform
you of such changes. These statements are not guarantees of future results
and are subject to risks, uncertainties and assumptions that are difficult
to predict. Therefore, our actual results could differ materially and
adversely from those expressed in any forward-looking statement as a result
of various factors.
Important factors that may cause such a difference for Heritage
Worldwide include, but are not limited to competitive pressures and other
factors such as the introduction or regulatory approval of new products by
our competitors and pricing of competing products and the resulting effects
on sales and pricing of our products, disruptions or other problems with
our sources of supply, significant product liability or other claims,
difficulties with new product development and market acceptance, patent
conflicts, product recalls, United States Food and Drug Administration
delay in approval or rejection of new and existing products, changes in
governmental regulations, use of hazardous or environmentally sensitive
materials, our inability to implement new information technology systems,
and other events.
Our Annual Report on Form 10-KSB and other Securities and Exchange
Commission filings discuss the foregoing risks as well as other important
risk factors that could contribute to such differences or otherwise affect
our business, results of operations and financial condition. We undertake
no obligation to revise or update publicly any forward-looking statement
for any reason.
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Chief Financial Officer, Heritage Worldwide,Inc.,
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