Solucorp Cites Major Benefits From European Union Environmental Rule Change As Company Prepares To File Form 10 Registration
December 06 2005 - 11:23AM
PR Newswire (US)
FORT LAUDERDALE, Fla., Dec. 6 /PRNewswire-FirstCall/ -- Solucorp
Industries Ltd. (OTC:SLUP) is pleased to provide an update on a
number of major ongoing projects both in the U.S. and Europe. The
company has been working diligently to finalize these projects,
thereby reaffirming Solucorp's commitment to be the leader in
providing cost efficient, permanent and efficacious environmental
technologies to the marketplace while focusing on revenue
production and its impact on the Company's shareholders. The
Company has been undergoing an audit of its 2002, 2003 and 2004
financial records by Florida based auditors Rachlin, Cohen &
Holtz and has hired the Florida based law firm of Akerman
Senterfitt to complete its financial filings to return to a "fully
reporting" compliant status with the Securities and Exchange
Commission. The 2002 and 2003 audits have been completed and 2004
is targeted for completion shortly. The Company's attorneys have
been instructed to commence the filings of Forms 10K's and 10Q's
immediately upon completion of the 2004 audit. Richard Runco,
President of Solucorp Industries Ltd. stated, "The Company's Form
10 filings can be expected to reflect the evolution of the Company
from an R&D expense oriented entity to a revenue producing
entity which has filed numerous additional patents throughout 2002
thru 2005 and has attracted the attention of major companies."
Runco further states, "The companies IFS products after 20 years
have reached the point that 2006 will require concise and effective
sales and marketing campaign for which the Company has hired
eFusion, a California based marketing company. This Company further
has undergone numerous setbacks in its growth process, but it never
faltered in its belief that its technologies would some day
revolutionize the impact-manufactured products would have on the
World's Environment. The Company has and continues to develop its
IFS products designed to eliminate metals pollution from products
such as batteries, paints computers, bullets etc...by building a
self remediation capability into the products as they are
manufactured. The Company is proud of its commitment and
accomplishments in the continued effort to achieve this goal." The
Company continues to capitalize on the recently enacted European
Union Environmental Landfill Directive, which prohibits the
shipment and disposal to all landfills of hazardous metal waste as
of July 2005. This means stabilization treatment is required by
law. The acceptance of Solucorp's Molecular Bonding System (MBS)
Technology by the International/Italian giant ENI has again
showcased MBS' ability to permanently eliminate leachable metals at
workable costs. The fact that ENI Plant is already treating
hazardous metal soils in Ravenna, Italy, significantly adds to the
Company's abilities to pursue other projects throughout Europe.
Along this line, a multi-million dollar plant designed by Solucorp
and manufactured for ENI, by Italian mechanical engineers, has
already processed 9783 tons of hazardous metal soil. The project
featured in Solucorp's press releases, dated June 13 and August 8th
2005, contracts ENI to purchase $5.5 million of Solucorp's
proprietary MBS reagent. Solucorp has already prepaid to its
chemical manufacturers and shipped 1.1 million dollars of its MBS
reagent to the Ravenna Site. The Site cleanup is targeted for
completion in September 2006. The Company 's Italian
representatives have filed for a Provincial permit in the Province
of Marche, which is South of the Province of Emilia Romagna where
Ravenna is located. The Company has also been contacted by
Criscuolo Group, a major Italian corporation, and is negotiating
the design and construction of two additional processing plants one
in Marche and one mobile unit. Criscuolo has the political and
environmental clean-up contacts and operating capabilities to
successfully market Solucorp's MBS technology throughout the
European Union. E.U. projects in Belgium, Australia and the United
Kingdom are currently being reviewed by Solucorp and soil test's
and/or "In-Line" plant designs are being formulated. Solucorp's
Integrated Fixation System (IFS), RE-ME-DIATE Lead Paint Stripper
featured in the press release of April 27, 2005 has been tested by
the Handyman Magazine members and the results were that Handyman
Magazine and its members recommend the use of the IFS RE-ME-DIATE
paint stripper, which will be featured in the January/February 2006
issue of the magazine. Currently Handyman Magazine is circulated to
an excess of (1) one million subscribers and readers. Solucorp's
product sales, distribution and marketing consultants have been
instructed to utilize the magazine article to promote the further
licensing, distribution and sales of the IFS Lead stripper
remediation product line. See
http://www.integratedfixationsystem.com/ for further product and
sales information. About Solucorp Industries Ltd. Solucorp
Industries, Ltd., a Canadian corporation is parent to three U.S.
corporations including: Solucorp Industries, focusing on the metals
remediation and pollution prevention industries. Solucorp's
patented MBS(R) technology began development over twenty years ago
and offers a permanent solution to heavy metals pollution problems.
Solucorp's MBS(R) has also undergone U.S. EPA MEP (Multiple
Extraction Procedure) testing demonstrating its ability to prevent
the return of metal pollution for an excess of 1,000 years. Since
being patented, MBS(R) has been used throughout the United States
and Canada as well as the UK, Italy, China and Argentina.
Solucorp's MBS(R) technology can be reviewed on the EPA website at
http://www.epa.gov/ by typing in the New Search Space, "Molecular
Bonding System." This technology is also presented in a publication
produced by the EPA titled Superfund Innovative Technology
Evaluation (SITE) Program, Technology Profiles 10th Edition, and
Demonstration Program. The Integrated Fixation System (IFS)
technology was developed from Solucorp's EPA SITE Program proven
MBS(R) process. The IFS technology deals with pollution prevention
rather than existing contamination problems. IFS can be integrated
into many types of product applications. IFS prevents future
contamination from metals such as lead, mercury, arsenic, chromium
(hex or tri), cadmium, zinc, nickel, selenium, antimony, barium,
beryllium, silver, thallium and vanadium. IFS can be added to
pollutant-bearing products such as batteries, paint strippers,
bullets, filters, computers, lamps, switches appliances, etc. IFS
can be applied through a multitude of delivery systems both as
solids and non-solids. The solid compound delivery systems include,
for example, blocks, tablets, spikes and flakes. Some examples of
non-solid delivery systems include laminates, inks, pastes,
powders, gels, and slurries. IFS can be designed to activate and
release under conditions such as exposure to light, pressure,
acids, natural oxidation, etc. IFS has no limitations in how and
where it can be integrated into metal containing products.
Customized products can be designed and manufactured to meet
specific needs. WITS Inc., founded in 2001 and purchased by
Solucorp in June 2004, is capable of supplying package systems to
treat contaminated wastewater as low as 20 gallons per minute and
upwards of 200 gallons per minute. By installing multiple package
systems, flows greater than that can be achieved. In addition to
pricing advantages, the WITS package produces a better water end
result without using harmful chemicals. The major water/wastewater
areas where the WITS' package can be utilized with significant
benefits includes water utilities; wastewater utilities; sludge
processing; combined sewer overflows; industrial pretreatment;
offshore oil rigs; livestock industry and in food & beverage
industry wastewater, automotive/metal processing discharging,
recyclable water recovery and phosphorous removal. WITS also has a
network of representatives throughout the Country to promote their
technology. This wide range of uses provides Solucorp with the
ideal complement to its remediation and metals pollution preventive
proprietary technologies. The foregoing discussion contains
forward-looking statements, which are based on current
expectations. Actual results, including the timing and amount of
revenues recognized, contracts awarded and performed and net income
may differ due to such factors as: delays in payment on contracts
due to dealings with governmental and foreign entities;
fluctuations in operating costs associated with changes in project
specifications; economic and other conditions affecting the ability
of prospective clients to finance projects; and other risks
generally affecting the financing of projects. Investors are
cautioned to perform a proper due diligence and consult-licensed
professionals prior to making an investment decision. DATASOURCE:
Solucorp Industries Ltd. CONTACT: Richard A. Runco, President of
Solucorp Industries Ltd., +1-954-568-7018 Web site:
http://www.solucorpltd.com/
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