Accel Energy Group Announces Major China Joint Venture
Distribution Source : Market Wire
Date : Monday, June 27, 2005
OLD SAYBROOK, CT -- (Market Wire - Jun 27, 2005) -- Accel Energy Group (OTC: AGYG) announced today a joint venture with one of the largest refineries in central China for the implementation of crude oil refinery services and products.
The refinery, located in Ningxia province, currently has more than 2,000 employees, sales of 83 million (USD) and fixed assets valued at 71 million (USD). It currently produces 1,100,000 tons of petroleum products, chemicals, asphalt and owns a gas station chain throughout the province, with plans to expand into the neighboring provinces. The prestigious refinery is considered one of the leading private companies in China and the Ningxia province. It is planning to become a major supplier of energy in China.
"This joint venture puts Accel Energy Group in the unique position of giving our investors a long-range investment in the USA and China -- the two largest consumer markets in the world. The USA market is estimated to be 13.7 trillion dollars, and the China market has an estimate of 12.4 trillion dollars. The 168 billion-dollar road construction industry is expected to continue growth at 16% annually, bringing AGYG many years of strong sales with increasing revenues," says Anthony Chirico, President of Accel Energy Group.
Accel Energy Group, an American Corporation with U.S. 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 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.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes" or statements indicating certain actions "may," "could" or "might" occur.
For further information please contact:
Anthony Chirico
CEO
Accel Energy Group Inc.
+1 (860) 767-3999
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