NUEC Nu Earth Corp (CE)

MIRAMAR BEACH, Fla., Aug. 11 /PRNewswire-FirstCall/ -- NuEarth Corporation (Pink Sheets: NUEC) ("NuEarth"), a manufacturer and marketer of "Clean & Green" products and technology, today announced that it has concluded its acquisition of AB Technology, SA of Lokeren, Belgium. (AB Tech).  AB Tech is a Northern European provider of "green" biodegradable cleaners and paint strippers. AB Tech's sales for 2009 were in excess of $4 million.

This merger of NuEarth and AB Tech marks a major milestone in the product offerings now available to their respective clients. Currently, a large number of industries, institutions and public sectors enhance their environments with solutions offered by the two organizations.  Bringing them together provides a powerful platform for innovating and supporting the needs of their clients.  The combined savings from the synergies will yield $2.1M to our bottom line while the addition product mix will add $7.5M to our top line"

"NuEarth Corporation is the US exclusive distributor of NuSoil; AquaSolv; Dustblock; and Roadbinder. Through this combination NuEarth now will become the exclusive distributor for ABTech's line of biodegradable cleaners and strippers," said Alfon Rosalini, Senior Vice President of NuEarth.  "The combination will greatly strengthen NuEarth by accelerating the growth strategy and enhancing the brand portfolio of the company. This will clearly be a win for both companies' customers while significantly enhancing value for all shareholders. We will have a total combined global footprint and the leading service organization in the industry capable of a major expansion to serve the needs of both our existing and future customers."

"This merger makes tremendous sense for our clients, shareholders and employees. It marks an unparalleled opportunity for two successful, mission- driven organizations to unify with a singular focus on being the premier partner for our clients in need of clean solutions on a global basis," said Levi Modelevi, CEO of NuEarth. "Together with our clients, we have one of those rare and special opportunities to truly improve the quality and efficiencies of our clients on a global scale."

NuEarth plans to enhance and support the existing products of both companies. New releases and ongoing product improvements will continue to be a key focus of the combined company. At the same time, NuEarth will leverage the application of AB Tech's family of products in combination with the existing product lines to interoperate with one another and with other applications. Over time, NuEarth will incorporate the best features and usability characteristics from the two product lines into a new, standards-based product set that will incorporate a scalable applications, the use of research services, unparalleled ease of use, and flexible customization features.

"Both companies are passionate about the green chemical markets and, alongside our respective clients, have truly pioneered the category together," said Rosalini. "Given the alignment of our visions, technologies, and overall strategies, the combination of our two companies will advance the use of green technology and thereby benefiting customers worldwide."

Both companies' Boards of Directors have approved the acquisition and merger. Subject to regulatory approval and other customary closing conditions, the transaction is expected to close later this year. The combined companies will operate under the NuEarth name and brand with corporate headquarters located in the United States.

About AB Technologies Products

Founded in the Belgium, Europe in 1982 AB Technologies has developed their line of products. ABT's unique chemistry possesses a number of advantages over solvent based cleaning products: There products are capable of effectively tackling the most demanding cleaning applications, ABT - products are biodegradable following OECD 301 and highly economic in use, They possess highly concentrated contents, and do not evaporate; therefore an immediate saving of about 70% can be made over a solvent based product, and the chemical waste prevented when using ABT products can add up to 80% savings over solvent based alternatives.

About NuEarth Corporation

NuEarth Corporation is a major chemical distributor dedicated to bringing to market "Clean Solutions to Complex Problems". NuEarth offers a broad and diverse range of biodegradable, environmentally friendly products and technologies. NuEarth's mission is to provide substitutes for many of the hazardous chemicals commonly used throughout the world today.  For information about NuEarth Corporation and its product offerings visit us on the web at www.nuearthcorp.com

This press release contains forward-looking statements regarding NuEarth Corporation within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management's current expectations and cannot be guaranteed.  The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting NuEarth Corporation.  Forward-looking statements speak only as of the date on which they are made and NuEarth Corporation undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise.

SOURCE NuEarth Corporation