Cardio Infrared Secures Funding for U.S. Manufacturing Launch

Cardio Infrared Technologies Inc. manufacturing has committed to an October launch of its new United States manufacturing facility after securing funding for the expansion, according to a release by Cardio Infrared Technologies Inc.

 

Wayne Bailey, president and CEO of Cardio Infrared Technologies Inc., states, "The funding that was secured by the Company now makes it possible to relocate all manufacturing of all Company products to the United States. From the inception of Cardio Infrared Technologies, Inc. all manufacturing has been in Italy and or China. The fall of 2011 will see all of the manufacturing for Company products moved to the United States. The manufacturing expansion to the United States will not only increase the quality of the products but will immediately result in a windfall of profitability for the Company, as well and an anticipated increase in quality and efficiency. The cost of the units will drop dramatically by up to 73% over existing current expenses of manufacturing, shipping and international currency exchange rates resulting in additional profits for next year estimated to exceed $2,000,000."