Neptune, NJ -- (ReleaseWire) -- 10/25/2016 --Sterling Consolidated Corp (OTCPK:STCC), the parent company of Sterling Seal & Supply Inc., a distributor of custom molded rubber components, o-rings, gaskets, and seals, is pleased to announce today the company has filled its first two orders for "Bungs", a new product for the beer and wine barrel manufacturing industry.
Bungs are made of FDA and medical grade certified synthetic silicone that can seal wine and beer barrels more efficiently. More wine and beer barrel manufacturing companies are turning to alternative stoppers to provide more efficient sealing for their products.
"The market opportunity for this product is unbelievable," said Chairman Angelo DeRosa. "We've basically been cold calling wine barrel manufacturers, but now we're going to make brochures and generate a strategic marketing plan to really move the product."
The two orders of bungs equate to 1050 pieces or 525 barrels. The company does have a third order pending and upon finalization of that order, bungs will be in 540 barrels, bringing in $3500 in sales for the company thus far.
"Our goal for next year is to generate $800,000 to $1,000,000 in sales," said Chairman Angelo DeRosa. "We would rather ten accounts with less numbers than one account with a huge number."
About Sterling Consolidated Corp.
Sterling Consolidated Corp., through its wholly-owned subsidiary, Sterling Seal and Supply has been a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace for more than 40 years. Through a combination of leveraging its logistical expertise and sophisticated, experienced management, the company intends to be an active and strategic consolidator of small- and mid-sized businesses within the highly-fragmented, multi-billion dollar seal industry. Currently serving more than 3,000 customers, Sterling offers acquisition targets a unique growth opportunity and competitive advantage through logistical expertise, strong regional branding and industry-specific distribution centers.
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
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Source: Sterling Consolidated Corp / Uptick Newswire LLC