AER Energy Announces Agreement as Exclusive Broker of Used Motor Oil Collected by USA Recycling Industries, Inc.
October 17 2011 - 12:38PM
Marketwired
AER Energy Resources, Inc. (PINKSHEETS: AERN) has successfully
signed an agreement with USA Recycling Industries, Inc.
(PINKSHEETS: USRI) of Reading, Pennsylvania to act as the exclusive
broker of 100% of the used motor oil collected by USA from its
automotive service center customers.
Stanley F. Wilson, AER Energy Resources, Inc., President stated,
"USA is committed to bundling its existing scrap metal service with
the collection of the used motor oil waste stream and recognizes
AER as a leader in that segment to assist them in that process. As
an officer and director of USA as well, I have acquainted USA with
the benefits AER can bring to their effort. AER is pleased to have
been selected to work with USA."
"As USA gears up for our planned franchise offering, the
addition of the UMO collection service to our existing scrap metal
collection will make us that much more competitive to our 4,000
automotive service centre locations," said Vincent Smith, USA CEO.
"Our pro-forma projects this new UMO collection stream could
generate $102,300,000 of new revenue to USA in 2012 of which AER
will generate fee income," Smith added.
ABOUT AER ENERGY RESOURCES, INC.
AER Energy Resources, Inc. (www.aernenergy.com) is a diversified
holding company with an emphasis on oil and gas exploration,
drilling, well completion and fuel distribution.
ABOUT USA RECYCLING INDUSTRIES, INC.
USA Recycling Industries, Inc.
(www.usarecyclingindustriesinc.com) is a publically traded
mid-market scrap metal recycler servicing commercial &
industrial customers throughout North America. The Company now
participates in a $75 billion global scrap metals market through
its acquisition of Scrap USA in December 2010. Operating since
2007, Scrap USA has been focussed on and successful in targeting
the Automotive Service Centre Industry. It currently provides
specialty recycling programs to more than 4,000 automotive service
centre locations operated by some of the most recognizable names in
that retail category. The Company's contracted automotive scrap
metal suppliers are listed on the NASDAQ, New York Stock Exchange
and others are owned by some of the world's largest hedge funds.
Having developed a national footprint in its current market of
scrap metal collection & processing the company is now
comfortable with integrating other ancillary products such as used
motor oil and other automotive related recyclables to its specialty
services.
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words or phrases "would be," "would allow," "intends to", "will
likely result," "are expected to," "will continue," "anticipate,"
"expect," "estimate," "project," "indicate," "could,"
"potentially," "should," "believe," "considers," or similar
expressions are intended to identify "forward-looking statements."
Actual results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. These include the company's historic lack of
profitability, end user customer acceptance and actual demand,
which may differ significantly from expectations, the need for the
company to manage its growth, the need to raise funds for
operations and other risks within the regulation of the industry.
Statements made herein are as of the date of this press release and
should not be relied upon as of any subsequent date. The Company's
past performance is not necessarily indicative of its future
performance. The Company does not undertake, and the Company
specifically disclaims any obligation, to update any
forward-looking statements to reflect occurrences, developments,
events or circumstances after the date of such statement.
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