Optec International, Inc to Launch Group Purchasing Division “Weshield Together” Projecting an Additional $25 Million in Revenue Annually

Rhea-AI Summary

OPTEC International, Inc. (OTC PINK:OPTI) announced the launch of a new group purchasing division, 'WeShield Together,' through its subsidiary WeShield. This initiative aims to reduce costs of global goods from strained supply chains, boasting over 25 partner organizations. The company projects this division will generate an additional $25 million in annual revenue. WeShield, known for its AI-driven MedTech solutions, reported revenues over $55 million in 2020 and expects to surpass $100 million in 2021. Details about participating organizations will be shared in early Q3 2021.

Positive

• Launch of 'WeShield Together' to cut costs and improve purchasing efficiency.
• Projected additional revenue of $25 million annually from the new division.
• WeShield's strong revenue performance with expectations of over $100 million in 2021.

Negative

• None.

CARLSBAD, CA / ACCESSWIRE / June 28, 2021 / OPTEC International, Inc. (OTC PINK:OPTI)

Today the company announced the launch of a new group purchasing division via their newly acquired, wholly owned subsidiary WeShield called "WeShield Together." The group will contain over 25 outside commodity based sales organizations and brokers who will retain WeShield as their purchasing wing to help drive down rising costs on globally stressed goods from overwhelmed supply chains in the wake of the global pandemic. Further details about 'WeShield Together" will be released along with the partner organizations joining the division in early Q3, 2021. OPTEC International is projecting an additional $25 million in revenue annually from this new division.

WeShield CEO Michael Sinensky commented, 'The pandemic brought out the best in so many entrepreneurs who pivoted away from their devastated companies to help bring the supply chain back for essential organizations who protected us from our common invisible enemy. Now we are coming together to help many of these new and old commodity based sales companies to lower their purchasing costs by pooling our resources and allowing WeShield and its experience with global sourcing to represent them. I feel the bottom line savings due to our collective buying power will be another large revenue stream, which will be split between the pool participants and WeShield. This new division further proves that WeShield has become the go to for many organizations for all their sourcing needs."

OPTEC CEO Roger Pawson commented, "We are seeing only the beginning of the growth and results from the WeShield acquisition. In less than a month since they have joined the OPTEC family, we have seen extraordinary effort from our new partners to keep moving the needle higher for expected growth. We can only imagine the potential we can see together after a few years."

About OPTEC International, Inc.

With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of the OPTEC Fuel Maximizer products along with electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Temperature Scanning product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information, visit: www.optecintl.com

About WeShield

WeShield, who recently received the following award, (https://www.analyticsinsight.net/company-of-the-month-weshield-embracing-ai-to-streamline-high-quality-ppe-and-safety-supplies/), is an established New York based AI (Artificial Intelligence) driven MedTech company in the PPE space with 2020 audited revenues in excess of $55M. WeShield was recently acquired by OPTEC International, Inc:

WeShield is deeply ingrained in the Wholesale Medical sector supplying PPE safety products to customers including GAP, Caesars Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC Housing Authority (NYCHA), Concordance, Henry Schein, Medline, and more. This AI driven MedTech company is on track for substantial growth and projecting revenues of over $100M for 2021. www.weshield.us

Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management 'believes,' 'expects,' 'anticipates,' 'foresees,' 'forecasts,' 'estimates' or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

Investor Relations Contact:

Michael Iorlano
760 621-0062 / Mike@MountaintopMedia.net

Michael Sinensky, WeShield
646.533.2360 | Michael@weshield.us

SOURCE: Optec International, Inc.

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https://www.accesswire.com/653287/Optec-International-Inc-to-Launch-Group-Purchasing-Division-Weshield-Together-Projecting-an-Additional-25-Million-in-Revenue-Annually

FAQ

What is 'WeShield Together' launched by OPTEC?

WeShield Together is a new group purchasing division aimed at reducing costs through collective buying power, involving over 25 sales organizations.

How much additional revenue is OPTEC projecting from WeShield Together?

OPTEC is projecting an additional $25 million in annual revenue from the WeShield Together division.

What were WeShield's revenues in 2020?

WeShield reported revenues exceeding $55 million in 2020.

What revenue is WeShield expecting for 2021?

WeShield is projecting revenues to exceed $100 million for the year 2021.

What are the main goals of OPTEC's new division?

The main goals are to help organizations lower purchasing costs and streamline supply chain challenges emerging from the pandemic.