SALT LAKE CITY, May 16, 2011 /PRNewswire/ -- Garb Oil & Power
Corporation ("GARB") and USA Recycling Industries, Inc. (OTC
NASDAQ: "USRI-PK"), have signed a DEFINITIVE AGREEMENT to form a
Joint Venture operation in North
America, which will operate under the trade name "USA
Recycled Tires, LLC", on a fifty-fifty basis, whereby USA Recycling
Industries will provide access to its national auto service center
chain store customer locations to establish the collection &
processing of scrap used tires for recycling purposes, availability
of its warehousing facilities & provide access to international
consumers of recycled rubber and steel through its majority-owned
export operations. Garb is to provide the Joint Venture operation
with technology for its warehousing facility at cost, know-how and
expertise in tire recycling. Garb CEO John
Rossi stated, "This Joint Venture catapults Garb into
North America's automotive
recycling industry providing direct access to many of America's top
auto service center operations." USA Recycling Industries CEO
Vincent J. Smith added, "We envision
that our Joint Venture through the formation of USA Recycled Tires,
LLC will change the way tires are collected, processed &
recycled in North America
resulting in a more environmentally friendly automotive recycling
solution."
About Garb Oil & Power Corporation
Garb Oil & Power Corporation (www.garbop.com) is a company
dedicated to the application of ClosedCycle(TM) principle and
NoWaste(TM) residue. Our plants for Rubber Recycling, EWaste and
E-Scrap Recycling and Waste to Energy processing plants are all
developed with these principles in mind. Garb believes that
processing waste should be economically viable and leave
NoWaste(TM). It is our endeavor to build plants that continue to
push the boundaries for the attainment of the ClosedCycle (TM)
principles and a world with NoWaste(TM).
About USA Recycling Industries, Inc.
USA Recycling Industries, Inc. formerly known as Voyager
Petroleum, Inc. (www.usarecyclingindustriesinc.com) is a publically
traded mid-market scrap metal recycler servicing commercial &
industrial customers throughout North
America. USA Recycling Industries now participates in
a $75 billion global scrap metals
market through its acquisition of Scrap USA in December of 2010.
Operating since 2007, USA Recycling Industries has been
focused on and successful in targeting the Automotive Service
Center Industry. It currently provides specialty recycling
programs to more than 4,000 automotive service center locations
operated by some of the most recognizable names in that retail
category. USA Recycling Industries contracted automotive
scrap metal suppliers are listed on the NASDAQ, New York Stock
Exchange and others are owned by some of the world's largest hedge
funds. Having developed a national footprint in its current
market of scrap metal collection & processing the company is
now comfortable with integrating other ancillary products such as
used motor oil and other automotive related recyclables to its
specialty services.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995. Statements contained in this document that are
not historical fact, are forward-looking statements based upon
management's current expectations. The forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those set forth in or implied by
forward-looking statements. The results anticipated by any or all
of these forward-looking statements may not occur. Garb Oil &
Power Corporation is not required to update its forward-looking
statements.
CONTACT:
For GARB OIL & POWER CORPORATION:
John Rossi – CEO
Ph.: +1-801-738-1355
Email: info@garbmail.com
For USA RECYCLING INDUSTRIES, INC.
Vincent J Smith – CEO
Ph.: 877-464-5865
Email: VSmith@usarecyclingindustriesinc.com
SOURCE Garb Oil & Power Corporation