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Green Star Products JV Partner NRG Resources Signs $140-Million Contract at APEC Summit Nov 20, 2006 10:30:00 AM Copyright Business Wire 2006
SAN DIEGO--(BUSINESS WIRE)--
Green Star Products, Inc. (OTC:GSPI) announced today that the New York Times and the Washington Post have both published an article covering the APEC Summit stating, "Vietnam's Truong Thinh Co. said it had sealed a US$140-million contract with California-based NRG Resources Inc."
NRG Resources is the exclusive marketing and distribution partner of GSPI for TVT 24/7 Advanced Lubrication product line.
The Asian-Pacific Economic Cooperation (APEC) Summit was attended by presidents from 12 countries including President George W. Bush and Pres. Vladimir Putin, Russia's President.
The New York Times and Washington Post articles further stated, "Top business leaders attending a Pacific Rim economic conference on Friday praised communist Vietnam for its stunning progress in reforming its economy a day after U.S. companies struck a flurry of investment deals worth more than $1.6 billion."
NRG Resources is one of only five U.S. companies covered in the articles.
Of the US$140-million agreement signed by NRG Resources, US$125-million will be for the purchase of TVT 24/7 products over the next five years.
GSPI manufactures the TVT 24/7 product line exclusively for NRG Resources and receives 25% of net profits from sales.
NRG brings an extensive International Marketing Team to expand TVT 24/7 sales worldwide.
The TVT 24/7 product line includes engine oil additives, machine cutting oil including computer operated CNC machines, which use water-soluble cutting oils. Extensive industrial field trials have proven the TVT 24/7 product reduces machine and engine wear, engine friction, increases production, reduces energy consumption and significantly reduces Global Warming effects by lowering CO2 emissions from all applications.
GSPI and NRG Resources are also Consortium partners in the renewable fuels market, which includes the production of biodiesel and cellulosic ethanol (see GSPI press release dated June 28, 2006 "GSPI Consortium Plans 500-Million Gallons Biofuels Production").
Green Star Products, Inc. (OTC:GSPI) is an environmentally friendly company dedicated to creating innovative cost-effective products to improve the quality of life and clean up the environment. Green Star Products is involved in the production of renewable clean-burning biodiesel and other products, including lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information, see Green Star Products' Web site at http://www.GreenStarUSA.com, or call Investor Relations at 619-864-4010, or fax 619-789-4743, or email info*GreenStarUSA.com. Information about trading prices and volume can be obtained at several Internet sites, including http://www.bloomberg.com and http://www.bigcharts.com under the ticker symbol "GSPI."
Forward-looking statements in the release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings with the Securities and Exchange Commission.
Source: Green Star Products, Inc.
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Green Star Products Inc. Chula Vista Calif. Joseph LaStella President 619-864-4010 619-789-4743 (fax) info*GreenStarUSA.com or NRG Resources Inc. 714-689-9100 714-689-9111 (fax) www.nrglc.comPosts: 2473 | Registered: May 2006
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what happend to the momo?? It looked like it was ready to blow, then the MMs took control. Lets hope for an EOD run and gap tomorrow. I still think it is a very promising play!
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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