Organic
Recycling Announces Major Waste Contracts in China
Released on
= June 16, 2005, 1:03 pm
Press Release
Author = EAPI Entertainment, Inc.
Industry = Environment
Press Release
Summary = EAPI Entertainment, Inc. and its wholly owned subsidiary
Organic Recycling Technologies, Ltd. (“Organic Recycling”)
and Foshan Public Utility Management are entering into an agreement
to construct and operate a waste disposal
facility in the Foshan region of Guangdong Province.
Press Release
Body = June 16, 2005 – Burnaby, BC – EAPI Entertainment,
Inc. (OTC BB: EPEI) is pleased to announce that the Company and
its wholly owned subsidiary Organic Recycling Technologies, Ltd.
(“Organic Recycling”) and Foshan Public Utility
Management are entering into an agreement to construct and operate
a waste disposal facility in the Foshan region of Guangdong Province.
Foshan Public
Utility Management is the government agency in the city in charge
of all utilities including waste. This agreement is directly with
the government source ensuring a secure contract and access to proper
channels in China.
Because Foshan
Public Utility Management is in charge of all the waste in the region,
they will supply the land for the project site, all the required
permits to build the facility and a guaranteed waste supply to the
project. Foshan Public Utility Management will also ensure un-interrupted
sales activity and no
restrictions on the future sale of the constructed waste facility.
Organic Recycling
now has a guaranteed waste contract from Foshan Public Utility Management
for 25-years with a guaranteed supply of 1000 tonnes of waste per
day. This portion of the contract alone will exceed US$100 million
for Organic Recycling. This contract is on a put or pay basis, enabling
Organic Recycling to be guaranteed the full contract value even
if the full amount of waste is not delivered.
After completion
of this first facility Foshan Public Utility Management will supply
an additional 50 sites to Organic Recycling under the same guaranteed
terms and conditions. These waste contracts alone will be worth
in excess of US$5 billion to Organic Recycling.
The private sector constitutes the most vibrant component of Foshan's
economy, making up the largest share of and contributing most to
the local economy. In terms of GDP, the private sector currently
accounts for over 40% of Foshan’s total. Organic Recycling
venture will join a number of large non-government owned enterprises
with significant market shares in the city. The enormous market
is now
being developed by Organic Recycling and the rest of China holds
incredible and untold opportunities for Organic Recycling.
Ralph Petruzzo,
President of the Company, added, “We are extremely excited
having commenced this US$100 million project in China. Knowing the
enormous potential of these 50 additional projects in China exceeds
US$5 billion, keeps the Organic
Recycling team moving aggressively forward.”
About Organic
Recycling Technologies, Inc.
The Board of
Directors approved the Company to change its name on January 21,
2005 to Organic Recycling Technologies, Inc. The Company filed it
preliminary 14A Proxy Statement on June 13, 2005 and will file its
Definitive 14A proxy Statement on June 23, 2005. After the proxy
vote by shareholders, if approved, the name will be changed and
effective. This change gives the Company the direction and establishes
a clear message for all of its business efforts in Organic Recycling
Technologies. The Company is incorporating the best technologies
in the waste and recycling industries, so it has the best solutions
today and tomorrow.
Forward-Looking
and Cautionary Statements:
Certain statements
contained herein, including, without limitation, statements containing
the words “believes”, “intends” and other
words of similar import, constitute “forward-looking statements”
within the meaning of Section 27A of Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of EAPI Entertainment, Inc.
to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements.
Given these uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements. EAPI Entertainment,
Inc. disclaims any obligation to update or to announce publicly
the results of any revision of the forward-looking statements contained
or incorporated by reference
herein to reflect future events or developments
For further
information please contact:
Organic Recycling Technologies, Inc.
Toll Free: 1-877-419-0430
Web Site: www.ORTechTeam.com
Email: MediaRelations@ORTechTeam.com
On behalf of
the Board of Directors of: EAPI Entertainment, Inc.
“Ralph
Petruzzo”
Ralph Petruzzo,
President
Web Site = http://www.ortechteam.com
Contact Details
= 204 – 3970 East Hastings Street, Burnaby, BC, Canada V5C
6C1
Toll Free: 1-877-419-0430
Web Site: www.ORTechTeam.com
Email: MediaRelations@ORTechTeam.com
Printer
Friendly Format
Back
to previous page...
Back
to home page...
Submit your
press releases...
|