Smart Ventures Acquires 100% of Metal Assets S.A., Panama, Owner of Patents Rights on Smart Steel Process (SSP) Technology® ...
June 09 2011 - 10:17AM
Business Wire
Smart Ventures Inc., (SMVR) is acquiring 100 % of the shares of
Metal Assets S.A., Panama which has the rights to the patents on
Invention Steel Melting Shop, Useful Model Steel Melting Shop,
Invention Metallurgical Complex and the Smart Steel Process (SSP)
technology. Metal Assets S.A. owns majority shares of steel rolling
plant “AV-Steel №1”, Surovikino, Russian Federation with the
production capacity of 150,000 metric tons per year.
The unique technology allows for production of construction
steel bars from scrap metal bypassing the processing of the
intermediate raw material i.e. slabs or billets, thus saving time
in production and making the plant more economical. The design of
the plant also allows less space and economical production. Since
steel production occurs by utilizing scrap available near the
production area and the end product to be used in nearby areas,
this production further contributes to clean air by saving on
trucking and other logistics.
About Smart Ventures, Inc.
Smart Ventures Inc. is dedicated to the field of steel
technology utilizing recently acquired and patented Smart Steel®
Process Technology. This state-of-the-art technology is a marriage
between an innovative technological solution and unique marketing
concept. Advantages over standard mills include shorter period of
mill construction, lower cost of construction, high labor capacity,
and a compact arrangement.
More information on Smart Ventures Inc. may be obtained from the
company's website www.ssp-steel.com.
This news release may contain forward looking statements within
the meaning of the Securities Litigation Reform Act. The statements
reflect the Company's current views with respect to future events
that involve risks and uncertainties. Among others, these risks
include the failure to meet schedule or performance requirements of
the Company's contracts, the Company's liquidity position, the
Company's ability to obtain new contracts, the emergence of
competitors with greater financial resources, and the impact of
competitive pricing. In the light of these uncertainties the
forward-looking events referred to in this release might not
occur.
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