Hackerproof Concludes Acquisition of the Alcar Group
MONTREAL, Feb 01, 2006 (MARKET WIRE via COMTEX) -- Hackerproof Ltd. (OTC: HKPF) announced today it has closed the definitive acquisition agreement with the Alcar Group; a Canadian based alternative fuels and advanced materials Company.
"With the merger now completed, we can concentrate all our efforts on completing our new production plant, which will enable us to produce non-petroleum based ethanol and diesel fuels as well as various non-petroleum based plastics and coating materials. Once our production is fully operational, it will quickly generate sales of $250 million USD with corresponding gross margins of $100 million USD per annum and considering that post merger the company has a total of 95,800,000 shares outstanding, it will create substantial shareholder value," said Alexander Cavasin, President of the Alcar Group. "Our company is truly committed to developing and producing leading-edge technologies, which will contribute to reducing world pollution and especially green-house gas emissions," further added Mr. Cavasin.
The company will proceed to change its name to the Alcar Group and request a new ticker symbol from the NASD, the said name change and ticker symbol should be completed within the next 2 to 3 weeks.
About The Alcar Group
The Alcar Group represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers, a growing shortage estimated to reach over 6 million tons in 2006. The market price for the materials in question vary between $1,000 and $3,000 per metric ton and the Alcar Group has developed a patented process and bioreactor which allow production at costs savings of up to 40% when compared to current production methods, translating in gross margins of over 50%. With the planned expansion, the AGI production process will reach a total capacity of 120,000 tons annually of economical and environmentally friendly materials for polymers.
The Alcar Group Inc. (AGI) develops innovative-patented methods for petroleum independent fuel and plastics resin production (e.g. polyurethane) that significantly improve the offerings of its customers in the automotive, building products and recreational sectors. AGI operates three divisions, Alcar Advanced Materials Corp., which manufactures and distributes various proprietary non-petroleum based plastics and coating systems, Alcar Advanced Energy Systems Corp., which will manufacture and distribute high purity non-petroleum based ethanol and diesel fuels and Alcar R&D, an advanced materials research and development center.
Contact:
Alexander P. Cavasin, PhD
Chairman & CEO
The Alcar Group Inc.
514-402-3665
apcavasin@alcartechnologies.com
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