Smart Ventures, Inc. Announces Major Acquisition
11 Décembre 2009 - 4:43PM
PR Newswire (US)
NEW YORK, Dec. 11 /PRNewswire-FirstCall/ -- Mr. Lance Larsen,
President of Smart Ventures, Inc. (OTC:SMVR) (BULLETIN BOARD: SMVR)
is pleased to announce that the Company's wholly owned subsidiary,
Metal Assets, S.A. has signed a Memorandum of Understanding with
OOO Surovikino Rolled Steel Works, a company formed under the laws
of The Russian Federation, also referred to as "Av-Stal". Under the
agreement Metal Assets would pay three million dollars to Av-Stal
for a fifty percent (50%) equity position in the operating company
and a one hundred percent (100%) interest in all of the patents,
technical procedures and other intellectual property pertaining to
the construction and operation of micro steel plants to be located
close to scrap metal supplies, in order to produce rebar, mesh and
rolled steel products using the latest "Smart Steel Process" (SSP®)
technology. Av-Stal has signed the first of six agreements to build
and operate plants in the Russian Federation and one plant to be
built in Lithuania. Mr. Larsen commented, "The Smart Steel Process
(SSP) has several advantages: 1. A mini plant employing
approximately 120 people and producing 120,000 long tons of steel
per year can be built and equipped for under US$50,000,000; 2. The
plant does not require any special infrastructure and decreases the
ecological load; 3. Location - near an adequate scrap supply but
away from major scrap metal consumers; 4. Development of a concept
for meeting 30-50% of the market demand in the chosen region; 5.
Simplification of the production process due to the SSP® technology
and the enterprise's operation as a small-batch producer and
distribution handled by middle and small suppliers in these
markets." Each mini plant will operate as a small retail enterprise
purchasing scrap metal and selling finished products, resulting in
lowering of expenses for raw materials and for sales of finished
products and in the reduction in the number of intermediaries and
transportation costs. -- Direct deliveries of finished products to
the customer. -- Considerable reduction of expenses for
infrastructure and auxiliary equipment. -- Use of know-how in the
organization of in-plant logistics and technologies. -- Minimal
number of works staff due to a high automation level. In addition
Smart Ventures, Inc. will aggressively pursue the interest received
from concerns in South and Central America, India and China. This
news release contains forward looking statements within the meaning
of the Securities Litigation Reform Act. The statements reflect the
Company's current views with respect to future events that involve
risks and uncertainties. Among others, these risks include the
failure to meet schedule or performance requirements of the
Company's contracts, the Company's liquidity position, the
Company's ability to obtain new contracts, the emergence of
competitors with greater financial resources, and the impact of
competitive pricing. In the light of these uncertainties the
forward-looking events referred to in this release might not occur.
DATASOURCE: Smart Ventures, Inc. CONTACT: Don Lawson,
+1-646-415-7987, for Smart Ventures, Inc.
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