SNRG Corporation Announces Devulcanized Rubber Production
09 Mars 2010 - 4:53PM
Marketwired
SNRG Corporation (PINKSHEETS: SNRG) announced this morning that the
Company has completed the set up of small scale production of
devulcanized rubber at its facility in Bay City Texas. A short
video of the initial production sample coming out of the cooler
will be available for viewing on our website www.snrg.net.
"The objective of the current production capacity is to
establish the first step toward generating revenues," stated Mr.
Fimrite. "Potential customers typically need a volume of sample
material to process as they modify their product recipes to
substitute devulcanized rubber for more expensive virgin
rubber."
Current production is achieved with manual operation of the
materials preparation and mixing process and is not intended to
produce marketable quantities of devulcanized rubber. However,
based on indicated customer response to our first sample product
the company has decided to accelerate its development of marketable
production by permanently installing its pilot plant equipment in a
fully automated production line capable of producing 10 million
pounds a year of devulcanized rubber.
According to Chief Executive officer of SNRG Corp. D Elroy
Fimrite, "The rapid escalation of natural rubber prices, 115% in
the past year and 30% in the past three months to a record $1.40
per pound has prompted us to increase our intended capacity from 80
million pounds to 90 million pounds, and accelerate the timing of
producing marketable quantities by the automation and
reinstallation of the pilot plant equipment. We now anticipate an
ability to commence sales in the second quarter of this year."
Devulcanized rubber is not a new commodity, low quality
devulcanized "reclaim rubber" has been produced and sold for over
100 years and even with its very poor chemical and physical
properties constitutes around 5% of the global rubber supply, a
volume in excess of 5 million tonnes a year. The devulcanized
rubber the company will produce will have vastly superior
properties to "reclaim rubber," will warrant a significantly higher
market price and will have access to a much larger market than
reclaim rubber.
The company's devulcanized rubber has excellent properties and
can be used as a substitute for virgin materials in the manufacture
of numerous rubber products. The technology acquired by the company
is unique, proven and ready for commercial production. The global
virgin rubber demand is in excess of 22 million metric tons per
year or in excess of 60 million tons of compounds and consists of
thousands of manufacturers that can substitute devulcanized rubber
in their products and achieve substantial savings.
FORWARD-LOOKING STATEMENTS AND SAFE HARBOR STATEMENT:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
(the "Act"). In particular, when used in the preceding discussion,
the words "believes," "expects," "intends," "will," "plans,"
"hopes," "anticipated," or "may," and similar conditional
expressions are intended to identify forward-looking statements
within the meaning of the Act, and are subject to the safe harbor
created by the Act. Except for historical information, all of the
statements, expectations and assumptions contained in the foregoing
are forward-looking statements that involve a number of risks and
uncertainties. Actual results could differ from those projected in
any forward-looking statements due to numerous factors. Such
factors include, among others, the inherent uncertainties
associated with the Company's business focus; the Company's ability
to acquire its target facilities and raise needed funding; the
potential productivity of our proposed properties; changes in the
operating costs and changes in economic conditions and conditions
in the recycling and de-manufacturing industry and the unproven
nature of such technologies and its commercial viability. Although
we believe that the beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no
assurance those beliefs, plans, expectations or intentions will
prove to be accurate. SNRG Corporation takes no obligation to
update or correct forward-looking statements, and also takes no
obligation to update or correct information prepared by third
parties that are not paid for by the Company.
Investor Relations Contacts: Mr. Christian Hansen Market
Specialist Equititrend Advisors, LLC 800-585-6988 Mr. Jim Elbert
Destiny Focus Consulting Inc. 630-847-4255 Authorized by: D. Elroy
Fimrite President & CEO Contact: Email Contact
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