GREENWOOD, SOUTH CAROLINA -- (Marketwire) -- 11/29/12 -- Dragon Polymers, Inc. (PINKSHEETS: DRAG) has signed a supply agreement with HANGZHOU WORLDBEST IM. & EXP. Co LTD, Hangzhou Zhejiang, China. The supply contract is for 8,800,000 lbs. of Nylon 66 fiber, from the Greenwood, South Carolina landfill facility. The material is sold, FCA Factory, Greenwood, SC, and is shipped in 40' shipping containers to the port of Shanghai.
The conditional contract calls for a representative from the purchasing company to be sent onsite to inspect the Greenwood facility to ensure quality of the Nylon 66 Fiber. The 8,800,000 lbs. of Nylon 66 fiber will be shipped over a period of 12 months, payment guarantee will be in form of a letter of Credit.
ABOUT THE COMPANY: Dragon Polymers Inc. is reseller industrial polymers, we have been able to identify a worldwide shortage in certain types of polymers, and specifically petroleum based polymers. As a result of this the company is focusing its efforts in the reclamation of polymers, specifically Polyethylene Terephthalate and commercial grade Nylon 66 waste.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company and all affiliated parties do not assume any duty to publicly update or revise the material contained herein.