Tirex Renews Its License Agreement with Simpro S.p.A.
December 11 2013 - 9:28AM
Business Wire
The Tirex Corporation (OTCPK: TXMC) – owner of a U.S. patented
tire recycling (TCS) technology – entered into a renewed license
agreement with Simpro S.p.A. of Brandizzo, Italy, to exclusively
manufacture TCS systems and nonexclusive marketing rights to sell
TCS systems worldwide.
“This is a restated agreement replacing an agreement originally
signed in December 2002 with Simpro that adds versatility and
protection of our technology to secure our future with a worldwide
reputable company of Simpro’s stature while we both are negotiating
current TCS sales opportunities,” according to Tirex President,
John L. Threshie Jr. “Simpro and Tirex, both collectively and
separately, have been marketing and planning to manufacture, sell
and own/operate TCS facilities in any and all suitable markets
worldwide,” Threshie added.
Tirex management believes that, given the proprietary nature of
the TCS technology, which technology is acknowledged in the Simpro
agreement, the Simpro agreement provides for compensation
arrangements in the form of commissions or royalties to Tirex with
respect to future TCS facility installations.
“Tirex’s previously announced hiring of Turner, Stone & Co.
LLP to audit Tirex and return us to current-reporting status has
progressed well; however, budget considerations have delayed our
filings with the SEC. The focus remains for Tirex to return to
current reporting status with the SEC as soon as possible,”
Threshie added.
Tirex filed an 8-K with the SEC on November 25, 2013 stating
that the contract Tirex entered into with Green Recycling Solutions
International in April 2013 is null and void.
ABOUT SIMPRO
Simpro is based in Brandizzo, Italy with operations throughout
the world. It specializes in the design, manufacturing and
installation of production equipment and systems as well as the
installation of turnkey facilities, primarily in the automotive and
railroad industries. Simpro has its ISO 9001 (quality management),
ISO 14001 (environmental management) and EMAS (Environmental
Management and Audit System) accreditations. For more information
go to:
www.simpro.it/home.php?argid=49&pagid=18&lang=en.
ABOUT TIREX
Tirex' TCS (Tirex Cryo System) process freezes scrap tire pieces
with cold air, as opposed to expensive liquid nitrogen, and then
"breaks" the rubber into upmarket “cryogenic” crumb rubber through
its patented "fracturing mill." This process also separates the
marketable strands of steel and fiber from the crumb rubber with a
"green," environmentally-friendly, economically-attractive tire
recycling system. For more information go to www.tirex-tcs.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. The words
or phrases “would be,” “will allow,” “intends to,” “will likely
result,” “are expected to,” “will continue,” “is anticipated,”
“estimate,” “project,” or similar expressions are intended to
identify “forward-looking statements.” Actual results could differ
materially from those projected in the Company’s business
plan and the information presented above. There are no
assurances that the previously-announced approximate 25% Internal
Rate of Return and 100% Return on Investment regarding “typical”
contracts will necessarily apply to all agreements. The information
contained in this news release should not be construed as an
indication in any way whatsoever of the future value of the
Company’s common stock, the Company’s future financial value or its
financial condition. Additionally, because the Company is not
current in its SEC reporting obligations, readers of this news
release should use extreme caution since current information is
unavailable to adequately judge the Company’s prospects. Statements
made herein are as of the date of this news release and should not
be relied upon as of any subsequent date. The Company cautions
readers not to place reliance on such statements. Unless otherwise
required by applicable law, we do not undertake, and we
specifically disclaim any obligation, to update any forward-looking
statements to reflect occurrences, developments, unanticipated
events or circumstances after the date of such statement.
Tirex CorporationJohn L. Threshie
Jr.203-522-3247info@tirex-tcs.comorGreg McAndrews &
AssociatesGregory A.
McAndrews310-804-7037greg@gregmcandrews.com
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