PBLS huge potential here:
Phoenix Associates Announces Acquisition, Additions to Staff and Major Contract
Company Adding Rock Concrete, LLC to Its Aggregate Division; Vince Promuto and Mike O'Riley Join Executive Staff; KOMEX Export-Import Contracts for 30 Million Metric Tons of Blended Aggregate Products
Aug 3, 2007 10:35:00 AM
MADISONVILLE, LA -- (MARKET WIRE) -- 08/03/07 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced a number of significant developments related to its Aggregate Division, including the addition of Rock Concrete, the addition of Vince Promuto and Mike O'Riley to staff positions, and a major contract with KOMEX Import-Export for 30 million metric tons of Blended Aggregate Products.
Paul Alonzo, President & CEO of Phoenix, stated, "We are adding Rock Concrete, LLC, an international wholesaler of all types of aggregate products, to our Aggregate Division. Rock Concrete is being converted from an LLC to a Nevada corporation, and will be headquartered in Madisonville, Louisiana."
Mr. Alonzo added, "I am pleased to announce the additions of Vincent Promuto and Mike O'Riley to key staff positions within our Aggregate Division. Vince has joined our Company as Director of Acquisitions for mining and aggregate related equipment worldwide, while Mike O'Riley has assumed the position of Executive Vice President of International Operations."
Mr. Promuto's background is wide and impressive. Vince played professional football for the Washington Redskins for 11 years and was a Pro Bowl Selection two times during his pro career. After his professional football career, Vince held the position of Director of Public Affairs for the U.S. Drug Enforcement Agency and served as a special U.S. attorney in Washington, DC and New York. Vince had large investments in the waste management business in New York and now has interests in trucking and mining in the Northeastern United States.
Mr. O'Riley has a mining engineering degree and has worked in the mining business all around the globe. Mr. O'Riley comes from a background of five generations of mining expertise.
Mr. Alonzo commented further, "It is with the greatest of pleasure that we want our shareholders to know that because of our partnering in the aggregate business, Phoenix has received a purchase contract for Blended Aggregate Products from KOMEX Export-Import, a major export-import company headquartered in Poland, with offices in Canada, Switzerland, United Arab Emirates, and the United States. KOMEX is a worldwide user of blended aggregate products."
This initial KOMEX contract is for 30 million metric tons of blended aggregate products at $44/metric ton at the Company's production site in the USA. The delivery schedule as per the contract calls for a minimum of 500,000 metric tons per month for 60 months. These products are for delivery to Poland. This contract calls for a renewal for up to ten years.
KOMEX will post a three percent (3%) cash performance bond up front with Phoenix.
The method of payment to Phoenix under this contract is by irrevocable, revolving documentary letter of credit, confirmed by a world-class top 25 western European or American Bank, payable 100% at sight, against agreed shipping documents.
Phoenix indicated that additional contracts are currently being negotiated for the Aggregate Division, and that the Company is quickly expanding to an international level in oil and gas, and aviation as well. Many informative news releases will continue to be forthcoming so as to keep our valued shareholders informed
AI
