Press Release Source: Garb Oil & Power Corporation On Monday August 15, 2011, 10:09 am EDT
SALT LAKE CITY, Aug. 15, 2011 /PRNewswire/ — Garb Oil & Power Corporation (OTCQB: GARB.PINK) Computers, mobile phones and cars are the mines of the throwaway society. A mobile phone virtually contains the entire periodic table. In addition to common industrial metals such as copper and aluminum, the Company stated that electronic waste includes gold and rare metals such as gallium and germanium. Already, there is a global competition for high-quality waste.
The Florida plant will have 25,000 metric tons input and produce output in Copper, Aluminum, Alloys and Plastic. Once operational the plant will provide estimated revenues in excess of $ 15,000,000 and EBITA in excess of $ 8,400,000 per year of operation starting from 2013. All raw materials will be on sold in the States for local processing. It is planned to have the plant operational by September 2012, with testing and commissioning occurring between July and August 2012.
According to Garb management, high commodity prices are driving a combination of business interest and an increased desire to keep E-Waste from entering land fills. The volume imports of raw materials increased from 54 to 127 billion euros in Germany, according to a report from the Federal Institute for raw materials. In particular, the so-called technologies of the future are raw eaters. Each wind turbine contains up to eight tons of copper, and the construction of an electric vehicle requires about 100 pounds, which is approximately twice as much as conventional midsize cars.
Garb Oil & Power Corporation is dedicated to the application of ClosedCycle(TM) principle and NoWaste(TM) residue. Our plants for Rubber Recycling, E-Waste and E-Scrap Recycling, Waste to Energy and OTR processing plants are all developed with these principles in mind. Garb believes that processing waste should be economically viable and leave NoWaste(TM). It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle (TM) principles and a world with NoWaste(TM).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this document that are not historical fact, are forward-looking statements based upon management’s current expectations. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. Garb-Oil & Power Corporation is not required to update its forward-looking statements.
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