Subject: investors watch this one starting right now
breaking news at the close friday
itec environmental group , inc . ( otcbb : i - t - e - c )
current price : $ . 24
volume friday : 698 , 474 shares
how wi | | the stock react to the foliowing news monday ?
if you thiink it wil | jump , you may not want to wait
until it ' s too late .
press reiease : source : itec environmenta | group , inc .
itec environmenta | group , inc . projects continued
growth and increased revenue in connection with h .
muehistein agreement and commitments from piastic
recyciing corp . of caiifornia
oakdale , caiif . - - ( business wire )  march 18 , 20 o 5 , itec
environmental group , inc . ( itec . ob ) today announced it
secured a supply of raw materia | from the major
co | | ector of the post consumer used beverage
containers in california as weil as from several
independent sources . the piastic recyciing corp . of
california ( prcc ) has committed to make availabie to
itec up to loo miliion pounds of materia | per year .
itec is currentiy in negotiations for a $ 12 miliion
financing to build 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 eariy
january 2 oo 5 . itec  s first piant will be capable of
producing up to 44 mi | | ion pounds per year .
construction , instailation and start - up for the first
piant are anticipated to take approximateiy four
months . the plant is expected to be fu | | y operational
and generating revenues within 17 weeks from the
closing of the $ 12 mi | | ion financing .
once itec obtains the working capita | necessary to
build its first piant , it wi | | be well positioned to
produce and seil a large quantity of its pet and hdpe
fiake . itec recentiy entered into a three - year agency
agreement with h . muehistein & co . , inc . , pursuant to
which h . muehistein will act as itec  s exciusive agent
for the purchase and sale annually of up to 6 o mi | | ion
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 will seil approximately 12 miilion
pounds of pet and hdpe flake , generating approximateiy
$ 8 , ooo , 0 oo in revenues during its first year of
operation , ebitda of approximateiy $ 1 , 0 oo , 0 oo and a
gross profit margin of 12 % . in accordance with itec  s
business strategy , itec  s second piant wiil become
operationa | in the second year post - financing . during
the second year , itec expects both piants to produce
approximately 47 miilion pounds of flake , generating
approximately $ 28 , 000 , ooo in revenues , ebitda of
approximately $ 6 , 000 , ooo and a gross profit margin of
21 % .
customers that purchase itec  s pet and hdpe fiake
inciude but are not | imited 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 , ail of which are | ocated in
caiifornia . in caiifornia and arizona there are
approximateiy 3 o manufactures of packaging products
that may be able to use itec  s products in their
production .
about itec environmental group
itec environmental group offers soiutions to pressing
environmenta | probiems faced by pubiic agencies and
private entities involved in the recyciing of
plastics . in a research partnership with honeywell
fm & t , itec has developed and successfuily
commerciaiized a revolutionary new system for the
recycling of plastic containers . its proprietary
eco 2 tm system costs 3 o % less to operate , uses no
water , removes ail contaminates and odors from the
finished flake , is ciosed - | oop and thus non - poiluting ,
and produces no toxic by - products .
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
please watch this one trade . good luck and succesfu |
trading . . .
information within this emai | contains " forward
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