CRTZ - Jeffrey L Henken - Float 2.8 million - $1.97 x 1.98 - Burning rubber!
Independent Laboratory Test Concludes CRTZ Pyrolysis Carbon Black
Can Be Upgraded To Commercial Quality
BRONXVILLE, N.Y.--(BUSINESS WIRE)--April 29, 1999--Stephen H.A. LaSala, President and CEO of Creative Recycling Technologies, Inc.
(OTCBB:CRTZ - news) announced another development in the company's program of increasing the quality of its by-products. Carbon black, is the primary element recoverable from a scrap tire, both in terms of weight and potential economic value from resale. Given this importance, a sample of carbon black from one of CRTZ's tests last week was sent to an tire and carbon black authority--for laboratory testing. Based on the sample, the report has concluded that the CRTZ pyrolysis carbon black can be upgraded to commercial quality. This assessment came as a result of a) laboratory testing of the raw by-product and b) laboratory testing of rubber made with upgraded CRTZ carbon black. The by-product's previous testing by a toner manufacturer indicated its acceptability to the toner marketplace(see press release dated April 8, 1999). Today's announcement is a further important indication of CRTZ's economic potential to sell its carbon black byproduct on commercially attractive terms.
The carbon black market is generally considered to total approximately 15 billion pounds annually on a worldwide basis, of which 3.5 billion pounds are in the U.S. About 90% of total demand is consumed by the rubber industry. Carbon black adds strength to rubber and, thus, tires account for almost two-thirds of total demand. The remaining 10% of carbon black demand is for non-rubber end uses, principally plastics and printing ink. The rapid growth in computer sales along with printers, has spurred the demand for toner, which contains carbon black. The price of carbon black has been in the $0.30-$0.35 per pound range over the past couple of years. The price of toner ranges from $0.60-$5.00 per pound, depending upon specific properties.
CRTZ is a development - stage company possessing a proprietary technology which can recycle scrap tires by pyrolysis. This process cracks the tires, thereby causing them to thermally decompose into their principal elements: carbon black, oils, gases, and steel. This process is now proven--technically, economically, and ecologically--at the bench scale, and awaits successful commercial scale-up. CRTZ's state - of - the - art technology offers the attractive prospects of simultaneously: (1) eliminating the environmental problems associated with scrap tires stockpiles(fire, disease, maintenance cost, landfill aggravation, and eye sore) while (2) recovering byproducts with substantial economic values.
Between 2000 - 2004, CRTZ plans to construct approximately 10 facilities, each capable of processing 10 million scrap tires per annum. Even 5 plants, each built one year apart, could collectively recycle 150 million scrap tires on a cumulative basis over 5 years. Assuming recoverable by-product values of approximately $2.00+/tire and full plant utilization, cumulative revenues would exceed $300,000,000 at the operating plant level. CRTZ, as licensor of the process, would receive a portion of these revenues in the form of development fees, management fees, and a share of plant profits.
A number of statements contained in this Press Release are forward-looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company may achieve may differ materially from any forward-looking
statements due to such risks and uncertainties.
Contact:
Creative Recycling Technologies, Inc.
Investor Relations:
Mr. Robert J. Brot, 914-771-5217
biz.yahoo.com
This one has been real strong lately. The Meyer Group likes it too. This is not a buy recommendation. I just want to take another stab at winning this contest!!!
LOL, Jeff |
