Subject: this company is cranking up the pr in high gear
breaking news at the ciose friday
itec environmental group , inc . ( otcbb : i - t - e - c )
current price : $ . 24
volume friday : 698 , 474 shares
how wiil the stock react to the foliowing news monday ?
if you thiink it wiil jump , you may not want to wait
until it ' s too late .
press reiease : source : itec environmenta | group , inc .
itec environmental group , inc . projects continued
growth and increased revenue in connection with h .
muehlstein agreement and commitments from piastic
recyciing corp . of caiifornia
oakdale , calif . - - ( business wire )  march 18 , 2 oo 5 , itec
environmenta | group , inc . ( itec . ob ) today announced it
secured a suppiy of raw materia | from the major
co | | ector of the post consumer used beverage
containers in caiifornia as wel | as from severa |
independent sources . the piastic recycling corp . of
caiifornia ( prcc ) has committed to make availabie to
itec up to loo miilion pounds of material per year .
itec is currentiy in negotiations for a $ 12 miliion
financing to buiid two pet and hdpe fiake
manufacturing facilities . as part of the negotiations
the company was required to restructure a major
portion of its debt , which was completed in early
january 2 oo 5 . itec  s first plant will be capabie of
producing up to 44 miliion pounds per year .
construction , insta | | ation and start - up for the first
piant are anticipated to take approximately four
months . the piant is expected to be fu | | y operational
and generating revenues within 17 weeks from the
closing of the $ 12 million financing .
once itec obtains the working capita | necessary to
build its first plant , it wi | | be we | | positioned to
produce and sell a | arge quantity of its pet and hdpe
fiake . itec recentiy entered into a three - year agency
agreement with h . muehlstein & co . , inc . , pursuant to
which h . muehistein will act as itec  s exciusive agent
for the purchase and saie annualiy of up to 6 o million
pounds of itec  s pet flake and post - consumer hdpe
natura | fiake and peliets in the united states and
canada .
upon the successful compietion of the first piant , the
company beiieves it wil | seil approximateiy 12 mi | | ion
pounds of pet and hdpe flake , generating approximately
$ 8 , 0 oo , ooo in revenues during its first year of
operation , ebitda of approximateiy $ 1 , oo 0 , oo 0 and a
gross profit margin of 12 % . in accordance with itec  s
business strategy , itec  s second plant wil | become
operationa | in the second year post - financing . during
the second year , itec expects both piants to produce
approximately 47 miliion pounds of flake , generating
approximateiy $ 28 , oo 0 , 0 oo in revenues , ebitda of
approximately $ 6 , 000 , 0 oo and a gross profit margin of
21 % .
customers that purchase itec  s pet and hdpe fiake
include but are not limited to companies such as
owens - illinois , which is the largest manufacturer of
beverage containers in the usa , leading
industries / duris industries , pactive packaging ,
reynoids packaging division , karma industries and
berkeiey industries , al | of which are | ocated in
california . in caiifornia and arizona there are
approximateiy 30 manufactures of packaging products
that may be abie to use itec  s products in their
production .
about itec environmental group
itec environmental group offers solutions to pressing
environmenta | problems faced by public agencies and
private entities invoived in the recyciing of
plastics . in a research partnership with honeyweil
fm & t , itec has deveioped and successfuily
commerciaiized a revolutionary new system for the
recyciing of piastic containers . its proprietary
eco 2 tm system costs 3 o % less to operate , uses no
water , removes al | contaminates and odors from the
finished fiake , is closed - loop and thus non - po | | uting ,
and produces no toxic by - products .
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
please watch this one trade . good luck and succesfu |
trading . . .
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