SOURCE: Worldwide Food Services, Inc.
July 22, 2010 10:00 ET
Worldwide Food Services (WFSV) in Talks With Penitentiary Supplier
BORDENTOWN, NJ--(Marketwire - July 22, 2010) - WORLDWIDE FOOD SERVICES, INC. (Worldwide Food Services) (PINKSHEETS: WFSV) formally announced today that meetings have been established with one of the country's largest prison food providers. The Company's goal is to integrate its food segments within the government with the large, and growing, state and federal prison system. The prison food service opportunity fits the strategic plan incorporated in the Military, schools, and blind government feeding arenas.
The synergies of mass purchasing, economies of broad distribution, and expanded use of the Company's proven sales team generates improved margins for each Worldwide Food Services division. A joint venture agreement or acquisition is expected.
Worldwide Food Services, Inc. is 100% Debt-free. The Company owes no suppliers or manufacturers; inventories that are held have all been paid-in-full.
For further information about this release, contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, #800-631-8127 and/or www.wwfoodservices.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward- looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.