MONTREAL, Mar 21, 2007 (MARKET WIRE via COMTEX) -- Alcar Chemicals Group Inc.(PINKSHEETS:ACMG) releases the news today that its acquiring partner, Siam Renewable Energy Group Ltd, has finalized the company's restructuring plan.The company stated that, pursuant to the finalization of the acquisition agreement and the hiring of Dr Cavasin as COO of acquiring partner Siam Renewable Energy Group Ltd., ACMG will be restructured into two companies. ACMG Inc. (for Alcar Chemicals Manufacturing Group), will remain in effect as the operating company synthesizing ethanol, polyols and sweeteners from renewable natural resources and bio-waste. ARTL Inc. (for Alcar Renewable Technology Licensor)will be dedicated to building reactors and licensing the different technologies. ARTL will be licensing its BTE and BTP ( bio-waste to ethanol andBio-wasteto Polyol) technologies for industrial scale applications world-wide. In addition ARTL will be selling small ethanol synthesizers, ranging inproduction capacity from 100 gallons per day to 1,000 gallons per day, designed for use by fruit orchards, municipalities and counties managing forest territories and of course farming operations. Furthermore a series of residential scale waste to natural gas and waste to hydrogen synthesizers will also be brought to market through ARTL within the next twelve months.
According to the company, following the restructuring program ACMG is expected to reach approximately 750 million dollars in revenues by 2010 while ARTL is expected to gross 1 billion dollars yearly as of the same year.About Alcar Chemicals Group Inc.
The Alcar Chemicals Group (PINKSHEETS: ACMG) represents a significant marketopportunitydue to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG hasbeenconcentrating on innovative methods for biomass (forestry waste, agricultural waste and non-food crop) valorization for the past decade,specificallypetroleum-independent fuel and plastics resin production. Its proprietary technology represents todays most economical and advancedmanufacturingprocess for plastic raw materials, ethanol and bio-diesel, allowing production at cost savings of up to 40% when compared to currentproductionmethods.
Important Information About Forward-Looking StatementsAll statements in this news release that are other than statements of historicalfactsare forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks anduncertainties.We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends,""may,""should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable,wecan give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results todiffermaterially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; ourneedfor significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategicpartners;our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers ofsimilarproducts and services; and other unanticipated future events and conditions.Investor Contact:
Steven SungIR*alcarchemicalsgroup.comSOURCE: Alcar Chemicals Group Inc.
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I bet they already purchased their shares between yesterday and today. And if this is the case I have no idea what will make this thing move up. Especially given all the good news over the last month.
"A final clause added and approved by the two Boards of Directors specifies that Siam Renewable Energy Group will acquire up to 30 million shares in the open market to a maximum of $1.00 per share and said "buy back" is to begin immediately."
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lostone, you still in this? I bought the other day....STRAIGHT DOWN!! LOL Either they are diluting the piss outa this or manipulating the chit outa it!!! I think it's the latter!!
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You've got to think about how ridiculous today's PR was. They were giving revenue guidance with HUGE numbers many years away from now. It's like they were desperate to bring in buyers to suck up shares from whoever is selling.
Monday's PR about Siam buying up to 30 million shares reminds me of the SLJB PR last August where they announced Wessal would start buying 25% of the company on open market.
Supposedly the OS is around 118 million and we've traded around 86.4 million in 4 days. This volume should of sent the stock well into the teens and yet it sits at .05.
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quote:Originally posted by cassity: lostone, you still in this? I bought the other day....STRAIGHT DOWN!! LOL Either they are diluting the piss outa this or manipulating the chit outa it!!! I think it's the latter!!
yea, i bought back at .05 yesterday, lucky thing i did too.. came home to find this.. hopefully it's all up from here..
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