COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
INSEQ Executes Letter of Intent to Acquire Metals Manufacturer
MOUNT ARLINGTON, N.J., Oct 03, 2005 (BUSINESS WIRE) -- INSEQ Corporation (OTC Bulletin Board: INSQ) today announced that it has executed a letter of intent to acquire a Specialty Metal Manufacturer ("SMM").
SMM is an Ohio-based specialty metal manufacturer that produces equipment for an array of industries and provides design, development, manufacturing, installation and maintenance services for its clients. INSEQ intends to complete the SMM acquisition during the fourth quarter 2005 with a mixture of conventional debt and cash on terms that INSEQ expects will be accretive to earnings.
INSEQ expects to merge the operations of SMM with INSEQ's existing Ohio-based metal manufacturing division, where SMM is expected to add $2 million in annualized revenues with better than 10% EBITDA margins.
Kevin Kreisler, INSEQ's chairman, said that "INSEQ plans to consolidate SMM's operations at its existing metal manufacturing operation in Ottoville, Ohio. Accordingly, we expect that the intended acquisition will be accretive to both INSEQ's profitability by reducing costs on existing contracts, as well as will enhance INSEQ's balance sheet since the acquisition brings valuable equipment and other assets. Further, SMM's equipment will be integral to the cost-effective manufacturing by INSEQ of products based on GreenShift Corporation's various technologies, specifically products based on GreenShift's Tornado Generator(TM) technology."
GreenShift's Tornado Generator(TM)
GreenShift's patented Tornado Generator(TM) accelerates compressed air to supersonic speeds in a closed cyclonic chamber where the air is powerful enough to almost instantly grind, flash desiccate and atomize solid and liquid wastes and other materials into micron sized powders. The Tornado Generator(TM) has no internal moving parts and is powered by compressed air. Needing only an appropriately sized generator and compressor, processing with the Tornado Generator(TM) is very robust and is capable of field operation.
The technology can cost-effectively and rapidly process a very broad array of wastes including agricultural wastes, septic wastes, municipal solid wastes, and construction and demolition wastes. In its most basic mode of operation, the Tornado Generator(TM) can simply be used to dramatically reduce the volume of targeted wastes by about 90%, as well as the associated transportation and disposal costs. Systems based on the Tornado Generator(TM) can be rapidly deployed for use in the cost-effective management of debris under emergency or other conditions.
Additionally, with conventional pre-processing, the output of the Tornado Generator(TM) includes fuel pellets with an average BTU value of about 7,000 BTU/lb. These fuel pellets are dry, dense, odorless, and can be easily transported economically and safely to remote landfills or sold to local power utilities or used to generate power on site.
About INSEQ Corporation
INSEQ Corporation is a publicly traded company whose mission is to directly facilitate the efficient utilization of primary and secondary commodities including metals, chemicals, fuels and plastics. More information on INSEQ is available online at www.inseq.com.
INSEQ is 70% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
God Bless - No Doubt
cris |
