Don't hold your breathe on this deal as mentioned in this release.
Monday April 5, 8:05 am Eastern Time
Company Press Release
CNH Holdings Announces Acquisition of Exclusive License to Patent and Rights to Purchase Mobile Refining Units
KILGORE, Texas--(BUSINESS WIRE)--April 5, 1999--CNH Holdings Co., Inc. (OTC BB:CNHH) announces the acquisition of an exclusive license to patent and rights to purchase mobile refining units.
The agreement with Refining Consultants, Inc. of Albany, Ky., gives CNH Holdings exclusive license to patent relating to the refining of an MTBE alternative Octane Enhancer. The agreement is pending the verification of certain claims and representations made by Refining Consultants, Inc. by May 18, 1999. Financial terms were not disclosed.
The Octane Enhancer is a positive environmental additive that blends with gasoline components. This high-octane additive is in direct competition to Methyl tertiary butyl ether (''MTBE''), a fuel octane enhancer/oxygenator. MTBE has come under attack by the Environmental Protection Agency (EPA) and is currently banned in California.
The ban on methyl tertiary butyl ether was imposed on Thursday, March 25, 1999 by California Gov. Gray Davis because the significant environmental risks posed by the chemical outweighed its benefits by its detrimental effects on water quality. California, however, not only sets the trends in environmental gasoline quality but with consumption at over 100,000 barrels-per-day (bpd), the west coast state consumes a third of the country's total demand, and a fifth of worldwide demand.
The Octane Enhancer can be blended with gasolines worldwide. The United States current gasoline consumption is $450 million in sales per day and approximately 332,000,000 gallons of gasoline. To accommodate international and domestic demand, CNH Holdings Co., inc. has immediate plans to have a plant shipped to its facility in Baytown, Texas to produce the Octane Enhancer.
Refining Consultants, Inc., with a chemical engineering laboratory, has conducted and documented extensive testing of this Octane Enhancer and its capabilities. It is considered to be one of the premier ethanol based energy projects globally. If representations concerning the capabilities of the Octane Enhancer are not verified by May 18, 1999, CNH Holdings Co. has no obligation to proceed on closing.
CNH Holdings Co. is a diversified energy and environmental company. NORM Services Group is in the business of waste disposal / cleaning up of Naturally Occurring Radioactive Materials (NORM) and Non-Hazardous Oilfield Waste (NOW) environments. NSG Rentals supplies rental equipment, maintenance, manpower, and services to off-shore oil rigs and on-shore oil well sites.
Southport Environmental & Development operates oil and gas production and leases. Pending completion of the acquisition from Refining Consultants, Inc., CNH Holdings will form a wholly subsidiary dedicated to producing, marketing and distributing an ethanol Based Octane enhancer fuel additive.
Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks and uncertainties, including, without limitation, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependence upon financing, due diligence, third-party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus.
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Contact:
Marketex, Kilgore
Gary Swancey, 903/984-7660
marketex.net
normcleanup.com
T MINUS 3+ WEEKS AND COUNTING..... My opinion its nothing less than a smoke screen and when the smoke clears they will come up with another good excuse why it never paned out........ Who knows MIRACLES DO HAPPEN..... |
