General Environmental Management Inc. (GEM) (OTCBB: GEVI) announced today that its subsidiary, Southern California Waste Water (SCWW), anticipates that this year’s revenue from servicing oil and gas producers will increase 75% over 2009.

Tim Koziol, CEO of GEM, said, “We are pleased that this sector of SCWW’s base business continues to grow. GEM is committed to providing the resources necessary to maximize SCWW’s opportunities in the Southern California marketplace.”

“SCWW services the oil and gas industry, domestic waste generators, and general industry,” said Doug Edwards, GEM Chief Strategy Officer and SCWW CEO. “We were initially established by several oil companies to service their needs and for almost 40 years that is all we did. Then for a period of a decade we abandoned that market in favor of domestic waste and general industry. In the past three years we have re-invested earnings to expand our capabilities to service all three sectors. The result has been very satisfying as both big and small oil operators increasingly find SCWW as the best solution to their non-hazardous wastewater disposal needs.”

Edwards explains, “The growth can be attributed to several factors, including a strong marketing presence, the rise in oil prices, vertical integration through the exclusive licensed use of PetroMax and environmental services, and improved processing capacities that enable trucks to be serviced quickly and safely. We have plans that will further extend our growth in the energy sector which we plan to announce this summer.”

Mr Koziol also added, “While California continues to suffer from the recent recession, SCWW’s business model of diversification and integration within the wastewater business sectors has enabled the company to not only weather the storm, but to emerge stronger than ever. Still, as California’s business outlook improves, we anticipate additional growth in domestic waste and general industry sectors.”

About General Environmental Management, Inc.

General Environmental Management, Inc. (www.generalenvironmental.com) owns and operates a non-hazardous wastewater treatment facility, Southern California Waste Water (www.scww.com), in Santa Paula, CA, as well as provides various environmental services and solutions. GEM is headquartered in Pomona, California.

FORWARD-LOOKING STATEMENTS

This press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or development that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual results to differ materially from those implied or expressed by the forward-looking statements. The Company assumes no duty whatsoever to update these forward-looking statements or to conform them to future events or developments.

General Enterprise Ventu... (PK) (USOTC:GEVI)
Historical Stock Chart
From Sep 2024 to Oct 2024 Click Here for more General Enterprise Ventu... (PK) Charts.
General Enterprise Ventu... (PK) (USOTC:GEVI)
Historical Stock Chart
From Oct 2023 to Oct 2024 Click Here for more General Enterprise Ventu... (PK) Charts.