SSWM Contract Backlog Highest in Company History
Thursday September 21, 9:45 am ET
Company to Enter New Fiscal Year with over $3.1MM in Contracts
CARLSBAD, Calif.--(BUSINESS WIRE)--Sept. 21, 2006--Robert Brehm, CEO of U.S. Microbics, Inc. (OTCBB:BUGS - News; BCN:615212), an innovative environmental products and services company, announced that its majority owned subsidiary, Sub-Surface Waste Management of Delaware, Inc., (OTCBB:SSWM - News), and its Mexico subsidiary company, Environmental Tec International, S.A. de C.V. (ETI), have a $3.1MM contract backlog in Mexico, the highest in the company's history. SSWM expects to commence these projects on or before October 1, 2006, the beginning of the new fiscal year, and recognize the much of the revenue in the first two quarters of the new year.
Brehm elaborated, "We have made significant progress in Mexico this year with $3.1MM in recent new contracts from the electric utility (CFE) and the State of Puebla as well as having completed, or nearly completed $550,000 in projects for the current fiscal year. As our revenue run-rate increases in the new year and we gather momentum and additional staff I expect our backlog of proposals and signed authorizations/contracts to also increase proportionately in 2007."
Brehm further commented, "We are also continuing our business development efforts with the Governor and his staff in Veracruz for the emergency response centers, and with the Governor of Tlaxcala for his landfill project. The proposals for these projects total over $200MM in potential new business for SSWM/ETI over the next five years. Due to the magnitude of the projects and political nature of the economic benefits for the people of Veracruz, Tlaxcala and Mexico City, we are working closely with many governmental agencies, politicians, contractors and subcontractors and others, who each have their own timetable and priorities, to ensure acceptance and the success of the projects for both SSWM and the people of Mexico. While our progress may seem slow by American standards, our efforts are significant and highly regarded by the government officials who are trying hard to implement new environmental policy and projects where none existed before."
About U.S. Microbics Inc.
U.S. Microbics is a business development and holding company that acquires, develops and deploys innovative environmental technologies for environmental cleanup and agriculture yield enhancement using local resources and stimulating regional economies in developing nations. For more information on the company, contact Robert Brehm at 760-918-1860 x102 or visit the website at www.bugsatwork.com, www.MikeyMicrobe.com or subsurfacewastemanagement.com. To be on the email list for press releases please visit: bugsatwork.com. |
