Accel Energy Group's Executive Summary Outlines Its Projected Growth Within China's Emerging Petroleum Market
Distribution Source : Market Wire
Date : Monday, July 18, 2005
OLD SAYBROOK, CT -- (Market Wire - Jul 18, 2005) -- Accel Energy Group (OTC: AGYG) announced today, via its Executive Summary, the Company's plan for strong, steady growth within China's emerging petroleum market. AGYG is a petroleum company and currently operates from a refinery in China that produces chemicals, pharmaceuticals, plastics and petroleum products, which include gasoline, diesel, heating and manufacturing fuels. Company principals have been doing business in China since 1985, and in 2004 the Company produced revenues of $58 million from the sales of its oil products.
The Company is presently seeking to raise $10 million to build a plant for the manufacture of its value-added product, Shale Asphalt Binder (SAB). SAB is a patent-protected oil derivative that, when added to asphalt, makes roads more durable.
This is a major initiative for AGYG since China is now embarking on the largest road building efforts in its history, which will result in a network of highways comparable to that of the United States. AGYG also plans to launch a comprehensive marketing effort for SAB because its inclusion will effectively prolong the life of China's roads. To date, the Company has received an exclusive Letter of Intent (LOI) regarding the use of its SAB product in China's Ningxia Province. This agreement allows AGYG total exclusivity to use SAB on all the major road construction projects the Ningxia Province.
According to Anthony Chirico, President of Accel Energy Group, "Our Company expects to earn revenues of $36 million in the first year of operations from the new SAB manufacturing facility, an excellent first year ROI. When combined with the projected revenues from our existing sales, we anticipate total revenues to exceed $111 million in 2006. The economic climate in China is strong, and we anticipate continued growth for many years to come."
The complete text of AGYG's Executive Summary can be read on all major financial websites as well as the Company website @ www.accelenergygroup.com.
Accel Energy Group, an American Corporation with US headquarters in Old Saybrook, Connecticut, and China headquarters in Shanghai, specializes in project management, and road construction in China. AGYG has more than a half-century of experience in the International, USA, and China markets, developing projects in retail, manufacturing, and road and building construction. AGYG was one of the first U.S. companies to open the China market for American products and services, selling products to over 350 million people. Accel Energy Group's goal is to become one of the leaders in China's emerging road construction industry.
For more information about Accel Energy Group please go to: www.accelenergygroup.com.
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