Solucorp's Ravenna, Italy Project Showcases Proprietary Technology
September 14 2006 - 8:10AM
Business Wire
Solucorp Industries, Ltd. (OTC:SLUP) announced today that its soil
remediation project in Ravenna, Ponticelle, Italy has generated
$3.7 million in revenues during the past ten months. Tonnage
remaining to be processed through November 2006 will result in an
additional approximate $1 million in revenue, for a total of $4.7
million in total revenues generated from this project during the
calendar year 2006. The company's patented Molecular Bonding System
(MBS(R)) technology successfully remediated hazardous heavy metals
from soils on site during the ten-month period. The test results
show the MBS process consistently resulted in treated soils proving
non-hazardous soil. The land is now acceptable for redevelopment
under stringent Italian Environmental Land Redevelopment
regulations. The site is owned by Syndial who has sold the
remediated and reclaimed the land for use as a housing development.
The ongoing success at the Ravenna project has been used to
showcase cost effectiveness and efficiency of the MBS technology to
other prospective clients throughout Italy, including one project
in Venezia, one in Tuscany, and two in the province of Emilia. To
date, Solucorp has successfully tested and treated contaminated
soil and water samples at seven hazardous waste sites throughout
Italy and is in various stages of contract negotiations for
remediation contracts. Two additional Syndial site projects are
pending, attesting not only to the success at the Ravenna site, but
to Syndial's commitment to the MBS technology. Syndial has
identified nineteen sites in need of remediation. Based in Rome,
Syndial is one of Europe's largest companies, employing more than
80,000 persons in more than 70 countries. Syndial represents an
important international alliance and provides Solucorp with a
worldwide stage from which to showcase its innovative technologies.
Solucorp's Italian operation is expanding to meet the ever growing
interest in and demand for its technologies. Theodore Wille
Intertrade, GmBH, a European purchasing conglomerate, visited the
Ravenna site and introduced the Venezia site opportunity to
Solucorp. The potential remediation of that site alone represents
an estimated $16+ million in revenue to Solucorp. The success of
the Ravenna site, when added to the remediation requirements of the
European Union and Italian government, set the stage for expanded
use of Solucorp's innovative technologies throughout Italy and the
rest of Europe. About Solucorp Industries, Ltd. Solucorp
Industries, Ltd. (www.solucorpltd.com) is a developer and provider
of patented, cost-effective, and permanent technologies for the
remediation and prevention of hazardous heavy metal contamination.
Solucorp operates three wholly owned subsidiaries: Solucorp
Industries, Integrated Fixation System Company Inc., and WITS, Inc.
The foregoing discussion contains forward-looking statements, which
are based on current expectations. Actual results, including the
timing and amount of revenues recognized, contracts awarded and
performed and net income may differ due to such factors as: delays
in payment on contracts due to dealing with governmental and
foreign entities; fluctuations in operating costs associated with
changes in project specifications; economic and other conditions
affecting the ability of prospective clients to finance projects;
and other risks generally affecting the financing of projects.
Investors are cautioned to perform a proper due diligence and
consult-licensed professionals prior to making an investment
decision.
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