General Environmental Management CEO Provides Shareholders with “State of the Union” Style Communiqué
May 10 2010 - 6:00AM
Business Wire
General Environmental Management Inc. (GEM) (OTCBB:GEVI), a
company specializing in the treatment and disposal of non-hazardous
wastewater, announced today the release of a company overview as
presented by General Environmental Management, Inc. CEO Timothy J.
Koziol. The “State of the Union” style communiqué serves to provide
current and prospective shareholders with a complete picture of
where the company currently stands in its revised business model to
expand from an environmental services only company to an enterprise
that begins with the treatment and disposal of non-hazardous
wastewater at its subsidiary, Southern California Waste Water
(SCWW), and expands to include a full spectrum of environmental
services.
Chief Executive Officer of GEM Timothy J. Koziol began the
communiqué by stating, “Over the recent months, General
Environmental Management has changed direction, company vision, and
company profitability. As we evolve into our new business model, we
recognize the importance of keeping our shareholders up-to-date. It
is with this intention that I present this communiqué to you
today.”
“Since 2002, GEM has been providing a premium level of
environmental solutions to clients in the Western Region of the
United States. While our direction has changed from hazardous waste
services to the treatment and disposal of non-hazardous wastewater,
we remain vigilant and focused on building shareholder value. Our
previous business model focused primarily on environmental services
and the management of hazardous waste. Our proprietary software
solution, GEMWare, was designed to give GEM and its clients the
data needed to efficiently manage regulated waste streams from
start to final treatment and disposal.”
“While this business model suited us for a time, and provided
the framework to build General Environmental Management, we
believed that higher profitability lay in non-hazardous wastewater
treatment. Water stands as the 3rd largest industry behind power
generation and oil and gas. According to the US Bureau of Labor
Statistics, the water and wastewater industry experienced 4%, 2%,
and 8% growth in the 1990, 2001, and 2007 recessions respectively.
GEM’s Board of Directors decided the Company should change its
focus from a purely services based company to an enterprise with a
foundation in a fixed based treatment and disposal facility, like
SCWW.”
Mr. Koziol continues, “SCWW, a non-hazardous wastewater
treatment facility in Santa Paula, California, was our platform. We
acquired them and began plans to grow the business organically and
develop state-of-the-art systems for operations, sales, compliance,
finance, and human resources at SCWW which can then be deployed at
other acquired facilities. Our expert staff created a turn-key
system sculpted from GEM’s expertise to streamline processes and
provide dynamic full spectrum environmental services. Ultimately,
GEM aims to establish a nationwide network of wastewater treatment
facilities over the next few years, seeking out acquisitions and
reformulating them to the GEM standards.”
“Margins from the treatment of hazardous waste were between
5%-10%, mainly due to the costs involved in the final disposal
stage at permitted facilities operated by outside sources.
Non-hazardous wastewater treatment margins at SCWW by contrast are
over 30%. Taking ownership of the final processing plant at SCWW
has proven to be the key in securing maximum profitability. Our
change of focus has resulted in margins up to eight times greater
than those maintained by our hazardous waste services only model.
We are excited about our business strategy to push greater volume
with a scalability that permits us to grow at a solid pace.”
Koziol added, “The domestic water industry is approximately $120
billion in size, with the global market currently calculated at
over $400 billion. The industry is growing each year with
increasing demands from industry, government and consumers. In
2009, SCWW gross revenues totaled $6,205,903 with an EBITDA of
$1,751,333. In 2010 we expect to see continued growth at SCWW.”
Mr. Timothy Koziol concluded the communiqué, “The new systems we
are developing and deploying at SCWW are turn-key, completely
scalable and provide a platform for future growth. Our new business
model is also more in tune with the economic landscape of today.
The sign of any good company is the ability to not only survive in
an economic downturn, but to thrive. As stated previously, we
believe that 2010-2011 will be years of enormous growth for
GEM.”
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, Calif., as well as provides various
environmental services and solutions. GEM is headquartered in
Pomona, Calif.
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.
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