ACMG news- + update from ceo letter (thanks pegbo)
June 13, 2006 - 7:30 PM EDT
Alcar Chemicals Group Signs Letter of Intent With A-M Polymer Industries Ltd
Alcar Chemicals Group Inc. (PINKSHEETS: ACMG) announces that it has signed a letter of Intent with A-M Polymer Industries Ltd after agreeing on the general terms for a licensing contract.
A-M Polymer Industries Ltd had expressed its interest in a licensing deal with a memorandum of understanding issued in May; the two companies have now reached an understanding on the terms and conditions, signing a letter of Intent. "A-M Polymers has been a customer for years and the established relationship facilitates our negotiations. I won't say too much at this stage but I can assure you that a final agreement is imminent," said Alexander Cavasin, CEO of Alcar Chemicals Group.
About Alcar Chemicals Group
The Alcar Chemicals Group (PINKSHEETS: ACMG) represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG has been concentrating on innovative methods for biomass valorisation for the past decade, specifically petroleum-independent fuel and plastics resin production. Its proprietary technology represents today's most economical and advanced manufacturing process for plastic raw materials, ethanol and biodiesel, allowing production at cost savings of up to 40% when compared to current production methods.
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1. What is going on with the contract? What is the location and address/phone for A-M Polymers?
The contract signing is imminent. A-M Polymers is an Algerian company, the result of a spin-off from Technoflex. It is one of Algeria’s oldest polymer and plastics manufacturing corporations. I have not shared contact info as to avoid any interference with the ongoing negotiations. Once the contract (is) signed I will happily post the relevant coordinates.
2.What is going on with the technology/market based evaluation and when will it be available?
The new study will be six to eight weeks once the financial group will give the go ahead.
(notice he says 'once' they give the go ahead, it will be 6-8 weeks after that, could be awhile, the contract revenue is much more important at this stage).
3. When will officers/directors be named and on the website? What about other updates?
Officers and advisory boards will be posted shortly, the main delay here is caused by the directors insurances. I have not been given a concrete answer as of today by our insurance broker. New pictures should actually already have been up…programmers.
(looks like a programmer delay for the pictures, must be in their hands).
4. The link to the financials on the website, why keep it when it will be updated in the future?
The financials reflect a conservative forecast based on one reactor. I am not willing to embellish or misrepresent what my team and I have found to be sound, solid and feasible projections.
(remember some on the boards were wondering if the financials on the website were for all 3 potential bioreactors? According to the CEO, it is for one! This is excellent)
5. Any way to share the physical address of the first bioreactor as of yet? Info on plans, engineers, company named to build the first site? Anything to share about this (other than what you shared on the website)?
We are on the engineering and are now at the stage of choosing the appropriate site. Among the many available sites within the selected location, we are now down to three existing buildings with appropriate accesses that are being evaluated prior to final selection. This will occur by end of September when installations should begin. Those details will be PRd shortly.
6. How about the political arena in Canada? Any government subsidies announced to you or your research, grants? They are considering all of this in the USA for Ethanol and less oil dependance projects. Anything to share?
We have benefited from R&D grants during our research and development phases. The new programs being implemented here in Canada concern ethanol projects from corn and are based on subsidies to render the ethanol viable as fuel. Since our production costs are significantly lower we will most likely not be eligible for these subsidies.
As a final word from Alex, he wrote that all emails related to the company may be shared. I asked him this as I would have to re-email him for approval and then he would say yes and I would then post the information. Saves me one step.
Pebgo
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