VOLT Gets $210 Million Dollar Coal Order
Wednesday August 4, 8:30 am ET
OAKHURST, Calif.--(BUSINESS WIRE)--Aug. 4, 2004--VOLT INC. (OTCBB:VOLT - News) announced today that it has received a SALES AND PURCHASE AGREEMENT FOR COAL ORE to be sold and delivered on an FOB basis to buyer in the amount of (10,000,000) TEN million metric tons of coal for 84 months with options to renew at year(5)five of the term. The contract calls for a minimum 55,000 tons per month +/-5% be delivered at $21 dollars per ton for a total contract price of $210 million dollars. Revenue on a monthly basis from the order will be between $1 million and $3 million dollars dependent on site loading, labor ,work, shipping, permits, and weather conditions. Payments on delivery will be serviced from a letter of credit posted by the buyer and drawn on a major bank. Sunvolt will oversee the day to day operations which will be managed by Lancaster International Corporation. The contract calls for the delivery of the coal to begin within 120 days and the company expects to meet the requirements and specifications of the order on a timely basis.
The company is actively engaged in negotiations for additional coal orders and sites.
VOLT INC. is a power provider and marketer of alternative energy and financial services.
FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE REGARDING VOLT INC ARE MADE PURSUANT TO THE 'SAFE HARBOR' PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. INVESTORS ARE CAUTIONED THAT SUCH FORWARD LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES AS FURTHER DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED WITH THE SECURITIES EXCHANGE COMMISSION AS A RESULT THERE CAN BE NO ASSURANCE THE COMPANY'S FUTURE RESULTS WILL NOT BE MATERIALLY DIFFERENT FROM THOSE PROJECTIONS. THE COMPANY HEREBY DISCLAIMS ANY OBLIGATIONS TO ANY SUCH STATEMENTS TO REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS OR ANY CHANGE IN EVENTS CONDITIONS OR CIRCUMSTANCES ON WHICH THIS STATEMENT IS BASED.
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Contact:
VOLT INC.
Denis Costa, 559-692-2474
volt@sti.net
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Source: VOLT INC.
AI
