SALT LAKE CITY, Oct. 27, 2011 /PRNewswire/ -- Garb Oil &
Power Corporation (OTCQB: GARB.PINK) has formed a JV partnership in
Italy to build and operate an
E-Waste plant. The plant will have 25,000 metric tons input and
produce output in Copper, Aluminum, Alloys and Plastic. Once
operational the plant will provide estimated revenues in excess of
euro 11,000,000 ($15,400,000) and EBITA in excess of euro 6,000,000 ($8,400,000) per year of operation. All raw
materials will be on sold to local entities for further processing.
The plant will be locally funded and initial funds are available to
start the project.
The JV will be 51% owned by Garb and 49% by a local group
already present in the waste recycling business locally. The
company will then build, own and operate a 25,000 metric ton
E-Waste plant. The estimated cost of the project including land,
building and plant is expected to be approx. $25 million USD and is scheduled to be completed
by September 2012. Funding for the
E-Waste plant will come through the engagement of a local bank and
will be guaranteed by an insurance bond.
Garb Oil & Power Corporation is dedicated to the application
of ClosedCycle(TM) principle and NoWaste(TM) residue. Our plants
for Rubber Recycling, E-Waste and E-Scrap Recycling, Waste to
Energy and OTR processing plants are all developed with these
principles in mind. Garb believes that processing waste should be
economically viable and leave NoWaste(TM). It is our endeavor to
build plants that continue to push the boundaries for the
attainment of the ClosedCycle(TM) principles and a world with
NoWaste(TM).
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995. Statements contained in this document that are
not historical fact, are forward-looking statements based upon
management's current expectations. The forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those set forth in or implied by
forward-looking statements. The results anticipated by any or all
of these forward-looking statements may not occur. Garb-Oil &
Power Corporation is not required to update its forward-looking
statements.
CONTACT for Garb Oil & Power Corporation:
Garb Oil & Power Corporation
+1-801-738-1355 Office
John Rossi President & CEO
Email: info@garbmail.com
Websites: www.garbop.com
SOURCE Garb Oil & Power Corporation