SpongeTech® Delivery Systems, Inc. (SPNG.OB) Receives Initial Order from Costco
Source: http://Blog.QualityStocks.net/?p=15491Posted on Monday, June 8th, 2009 | In Market Commentary, Small & Micro Cap
SpongeTech® Delivery Systems, Inc., a leading designer, producer and marketer of unique lines of reusable cleaning products for car, child, home and pet care usages, recently announced that the company received an initial open order of its car care products from Costco™, the largest membership warehouse club chain in the world. SpongeTech®’s proprietary, patent (and patent-pending) sponge-like car care products utilize hydrophilic (liquid-absorbing) foam and are pre-loaded with specially formulated ingredients, including soap, conditioner and/or wax, that are released when the sponge is soaked and applied to a surface with minimal pressure.
The company believes that this initial order from Costco demonstrates the wide market acceptance and demand of SpongeTech®’s innovative cleaning products. Costco currently operates 555 warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Korea, Taiwan, Japan and Mexico.
SpongeTech®’s chief operating officer, Steven Moskowitz, commented, “We look forward to our new relationship with retail giant, Costco.” He continued, “Costco has the geographic coverage, floor traffic and the demographics that are important in delivering our product to the market place on a national level. Our business continues to expand rapidly with reorders as well as new purchase orders and SpongeTech®’s products will now be more available to the public.”
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