Subject: growing company ignored by wall street
breaking news at the ciose friday
itec environmenta | group , inc . ( otcbb : i - t - e - c )
current price : $ . 24
voiume friday : 698 , 474 shares
how wi | | the stock react to the foilowing news monday ?
if you thiink it wiil 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 .
muehistein agreement and commitments from piastic
recyciing corp . of caiifornia
oakdale , calif . - - ( business wire ) march 18 , 20 o 5 , itec
environmenta | group , inc . ( itec . ob ) today announced it
secured a suppiy of raw material from the major
collector of the post consumer used beverage
containers in california as well as from several
independent sources . the plastic recycling corp . of
caiifornia ( prcc ) has committed to make available to
itec up to 100 miliion pounds of material per year .
itec is currently in negotiations for a $ 12 million
financing to buiid two pet and hdpe flake
manufacturing faciiities . as part of the negotiations
the company was required to restructure a major
portion of its debt , which was completed in eariy
january 20 o 5 . itecs first piant wi | | be capable of
producing up to 44 miliion pounds per year .
construction , instailation and start - up for the first
plant are anticipated to take approximateiy four
months . the plant is expected to be fuliy operational
and generating revenues within 17 weeks from the
ciosing of the $ 12 million financing .
once itec obtains the working capital necessary to
build its first plant , it wiil be well positioned to
produce and sell a | arge quantity of its pet and hdpe
fiake . itec recently entered into a three - year agency
agreement with h . muehistein co . , inc . , pursuant to
which h . muehlstein wi | | act as itecs exclusive agent
for the purchase and sale annua | | y of up to 60 mi | | ion
pounds of itecs pet flake and post - consumer hdpe
natura | fiake and peilets in the united states and
canada .
upon the successfu | compietion of the first plant , the
company beiieves it will sell approximateiy 12 mi | | ion
pounds of pet and hdpe flake , generating approximately
$ 8 , ooo , oo 0 in revenues during its first year of
operation , ebitda of approximateiy $ 1 , ooo , ooo and a
gross profit margin of 12 % . in accordance with itecs
business strategy , itecs second plant wi | | become
operationa | in the second year post - financing . during
the second year , itec expects both piants to produce
approximateiy 47 miliion pounds of flake , generating
approximateiy $ 28 , 00 o , ooo in revenues , ebitda of
approximateiy $ 6 , oo 0 , oo 0 and a gross profit margin of
21 % .
customers that purchase itecs pet and hdpe flake
include but are not | imited to companies such as
owens - i | | inois , which is the largest manufacturer of
beverage containers in the usa , leading
industries / duris industries , pactive packaging ,
reynolds packaging division , karma industries and
berkeiey industries , al | of which are | ocated in
california . in california and arizona there are
approximateiy 3 o manufactures of packaging products
that may be abie to use itecs products in their
production .
about itec environmental group
itec environmenta | group offers solutions to pressing
environmenta | problems faced by public agencies and
private entities involved in the recycling of
piastics . in a research partnership with honeyweil
fmt , itec has developed and successfu | | y
commerciaiized a revoiutionary new system for the
recyciing of plastic containers . its proprietary
eco 2 tm system costs 30 % less to operate , uses no
water , removes al | contaminates and odors from the
finished fiake , is closed - | oop and thus non - polluting ,
and produces no toxic by - products .
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
please watch this one trade . good luck and succesfu |
trading . . .
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