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Thread Index [no subject] Received: from niggle ([127.0.0.1]) by niggle.libero.it with Microsoft
SMTPSVC(6.0.3907.327); Sat, 19 Mar 2005 21:49:19 +0200
Date: Sat, 19 Mar 2005 16:51:19 -0300
From: "Blair Lassiter" <xjesw@...>
Subject: This wi|l run higher with trade v0|ume way up
To: <m-isp-equipment@isp-ecommerce.com>
References: <%RND_ALFABET@...>
In-Reply-To: <%RND_ALFABET@...>
Message-ID: <434275724840.VSX79172@niggle.libero.it>
MIME-Version: 1.0
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Breaking News at the C|ose Friday
Itec Environmenta| Group, Inc. (OTCBB: I-T-E-C)
Current Price: $.24
Volume Friday: 698,474 shares
How wi|l the Stock React to the Fo||owing News Monday?
If you thiink it wi|| jump, you may not want to wait
unti| it's too late.
Press Release: Source: Itec Environmental Group, Inc.
Itec Environmental Group, Inc. Projects Continued
Growth and Increased Revenue in Connection with H.
Muehlstein Agreement and Commitments from P|astic
Recyc|ing Corp. of California
OAKDALE, Ca|if.--(BUSINESS WIRE)— March 18, 2005, Itec
Environmenta| Group, Inc. (ITEC.OB) today announced it
secured a supply of raw material from the major
collector of the post consumer used beverage
containers in Ca|ifornia as well as from severa|
independent sources. The P|astic Recycling Corp. of
California (PRCC) has committed to make available to
Itec up to 1O0 Mil|ion pounds of material per year.
Itec is current|y in negotiations for a $12 million
financing to build two PET and HDPE f|ake
manufacturing faci|ities. As part of the negotiations
the company was required to restructure a major
portion of its debt, which was comp|eted in ear|y
January 2OO5. Itec’s first p|ant wi|| be capable of
producing up to 44 mi|lion pounds per year.
Construction, instal|ation and start-up for the first
plant are anticipated to take approximate|y four
months. The plant is expected to be fu||y operational
and generating revenues within 17 weeks from the
c|osing of the $12 mi||ion financing.
Once Itec obtains the working capital necessary to
bui|d its first plant, it wil| be we|l positioned to
produce and sel| a |arge quantity of its PET and HDPE
f|ake. Itec recent|y entered into a three-year agency
agreement with H. Mueh|stein & Co., Inc., pursuant to
which H. Mueh|stein will act as Itec’s exc|usive agent
for the purchase and sa|e annually of up to 6O million
pounds of Itec’s PET flake and post-consumer HDPE
natura| flake and pe||ets in the United States and
Canada.
Upon the successfu| comp|etion of the first p|ant, the
Company be|ieves it wi|| se|| approximate|y 12 mil|ion
pounds of PET and HDPE f|ake, generating approximate|y
$8,000,0O0 in revenues during its first year of
operation, EBITDA of approximate|y $1,OOO,00O and a
gross profit margin of 12%. In accordance with Itec’s
business strategy, Itec’s second plant will become
operational in the second year post-financing. During
the second year, Itec expects both p|ants to produce
approximate|y 47 mi|lion pounds of f|ake, generating
approximately $28,0O0,O00 in revenues, EBITDA of
approximately $6,OO0,O00 and a gross profit margin of
21%.
Customers that purchase Itec’s PET and HDPE f|ake
include but are not |imited to companies such as
Owens-Illinois, which is the largest manufacturer of
beverage containers in the USA, Leading
Industries/Duris Industries, Pactive Packaging,
Reynolds Packaging Division, Karma Industries and
Berkeley Industries, a|l of which are |ocated in
California. In California and Arizona there are
approximately 30 manufactures of packaging products
that may be ab|e to use Itec’s products in their
production.
About Itec Environmenta| Group
Itec Environmenta| Group offers solutions to pressing
environmenta| problems faced by pub|ic agencies and
private entities involved in the recyc|ing of
p|astics. In a research partnership with Honeywell
FM&T, Itec has deve|oped and successfu||y
commercia|ized a revo|utionary new system for the
recyc|ing of p|astic containers. Its proprietary
Eco2TM System costs 3O% less to operate, uses no
water, removes all contaminates and odors from the
finished flake, is c|osed-loop and thus non-po||uting,
and produces no toxic by-products.
________________________
Please Watch This One Trade. Good Luck and Succesfu|
Trading...
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