ECOLOGIX Resource Group Expects to Record Revenue by Year-End
November 06 2009 - 6:15PM
Marketwired
ECOLOGIX Resource Group (OTCBB: EXRG), a natural resource company
focused on the timber industry and production of alternative energy
solutions, announced today it expects the Company's operations will
be revenue-generating by the end of 2009, ahead of internal
forecasts.
ECOLOGIX recently reported it had commenced operations in
Cameroon ahead of schedule. This accelerated schedule coupled with
some favorable market conditions are directly responsible for the
Company's accelerated revenue forecast.
Jason Fine, Chairman and CEO of ECOLOGIX Resource Group, said,
"We are pleased to be able to capitalize on the strong demand we
are seeing in the marketplace. Due in large part to thoughtful
planning and a relentless focus on execution we are now positioned
to monetize our efforts ahead of schedule. While we've been very
aggressive in terms of capitalizing on natural resources in a way
that's environmentally-friendly, we've been equally as diligent in
running our operations in a manner that provides a solid foundation
for future growth. UN Ambassador Juan Avila, a Director of the
Company, continues to provide invaluable guidance in helping us in
achieving our ultimate objective of becoming a model for harvesting
timber without negatively impacting the environments in which the
Company operates. If recent indicators of global market demand are
any prediction of future growth, I can safely say ECOLOGIX has a
bright future ahead of it."
The Company cited leading market indicators for the increased
demand leading to its advanced revenue forecast. According to the
ITTO (International Tropical Timber Organization) approximately 60%
of the timber imported to the PRC (Peoples Republic of China)
during 2008 was through Cameroon, most being derived from the
northern forest regions. Most of this timber was destined for the
EU (European Union). Many of the concessions supplying this timber
are certified by the FSC (Forest Stewardship Council). During May
2009, the country signed a voluntary partnership agreement with the
EU to ensure that only legal timber would be exported. In addition,
during a recent speech made at the UN regarding climates changes,
Mr. Jia Zhibang, Administrator of the State Forest Administration
of China, said that the Chinese Government attaches importance to
the role of forests in mitigating climate change and has already
invested over US$70 billion in this field.
About ECOLOGIX Resource Group
ECOLOGIX Resource Group is a natural resource company focused on
the timber industry and production of alternative energy solutions
in accordance with the most stringent environmental standards
regulating these industries. Additional information on ECOLOGIX
Resource Group is available on its website, www.ecologixrg.com.
Safe Harbor
This press release contains forward-looking statements made
pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. Readers are cautioned that a number
of factors could cause our actual results to differ materially from
any results indicated in this release or in any other
forward-looking statements made by us, or on our behalf. These
include among others factors related to general economic
conditions, interest rates, demand for materials handling products
and construction equipment, performance of our manufacturing
facilities and the cyclical nature of the materials handling and
construction equipment industries. Further, historical information
should not be considered an indicator of future performance.
Additional considerations and important risk factors are described
in our reports on Form 10-K and 10-Q and other filings with the
Securities and Exchange Commission.
ECOLOGIX Resource Group Toll free: 1 888-LOGIXRG (564-4974)
Email: ir@ecologixrg.com
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