NEWS: Magnum D'Or Resources to Begin Shipment of Its Wholly Owned Crumb Rubber Plant
Monday May 19, 9:04 am ET
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Magnum D'Or Resources, Inc. (OTCBB:MDOR) (Magnum) announced on May 19, 2008, that fabrication of equipment for the company’s first wholly owned full scale plant is now complete. Shipment of equipment will begin in the next few weeks and continue over the next several months. Installation and start-up activities should be completed this summer with production commencing shortly thereafter.
“This marks a very important milestone for our Company,” stated Joseph Glusic, president & CEO of Magnum. “This equipment procurement represents about a $10,000,000 investment in our first facility here in North America and will allow us to produce and fulfill our open contracts for nuggets, as well as, produce ambient crumb rubber and powder(s).”
The Artech ACT 301 plant will require shipment of approximately 30 sea-land shipping containers, each measuring approximately 40ft by 8ft by 8ft. Additional equipment to complete the cryogenic processing and ultra fine powder portion of the plant have now been ordered. It is anticipated that this additional equipment will be available for shipment later this year.
Financing for the plant was procured through the manufacturer, while shipment and start-up costs are being borne directly by Magnum.
Updates on the progress of shipments and installation will be posted on our website www.magnumresources.com as they become available.
Magnum has the unique opportunity to provide a “Green Solution” to several of the world's most common disposal issues. This includes our strategy to establish waste management facilities; design, manufacture, and sell products made with recycled materials; and institute viable solutions to the problem of recycling waste rubber. Magnum will use its unique closed loop recycling technology utilizing our proprietary know how for recycling scrap rubber to produce a variety of end products (buffings, nuggets, crumb rubber, pure powder, etc.) while reducing greenhouse gases.
