Safetek International Acquires Newave Packaging Inc. Securing Growth Finance

NEW YORK  (Profitable.com)  Safetek International, Inc. (Pink Sheets: SFIN) announced today that it has acquired a controlling interest in Newave Packaging Inc., a Delaware Corporation and is attempting to secure working capital finance to develop and expand Newave Packaging’s business.  

Safetek seeks to introduce to the markets a new non-toxic and non-PVC food film packaging without known harmful trace elements, and other packaging products. Safetek International hopes to capture a share of the food packaging industry and aspires to set new standards for ‘green’ products used within the industry as a whole.  

Pursuant to the acquisition, the President of Safetek International, Inc., Shmuel Shneibalg, will join the board of Newave Packaging Inc. as President, Secretary and Treasurer. End Stefan Gudmundsson will continue as CEO of Newave Packaging Inc.

Commenting on the acquisition, the President of Safetek International, Inc., Shmuel Shneibalg, said that “This acquisition marks the start of our new business strategy, and we are extremely excited by the potential that Newave Packaging will bring to Safetek International’s growth plans.”

The CEO of Newave Packaging Inc., Stefan Gudmundsson, said: “In Safetek we have found a strong and supportive partner to help grow and expand our revolutionary new film packaging products and meet the demands of the food packaging industry for alternative more environmentally friendly products.”

About Safetek International, Inc.

The business plan of Safetek International, Inc. includes identifying, developing and managing business projects that Management believes show significant growth potential, including new green technologies and other ECO-Friendly sectors. The Company is undergoing a restructuring and refinancing in 2010 to foster the innovation and application of its ‘green’ initiatives.

Forward-Looking Statements

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company’s current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.