TexCom, Inc. Breaks Ground for Biodiesel Production Plant at the LBC Terminal in Seabrook, Texas
HOUSTON, Dec. 29 /PRNewswire-FirstCall/ -- TexCom, Inc. (OTC Pinksheets: TEXC) held a groundbreaking ceremony on December 21 for its Houston Biodiesel, LLC plant at the LBC Houston, LP terminal site in Seabrook, Texas. "This terminal is ideally suited as our initial plant location. The site affords us the capability to bring in our raw materials such as soybean and other vegetable oils by vessel, barge or rail. The plant will benefit from the fact the Houston Ship Channel is one of the nation's leading ports in terms of the volumes of agricultural commodities that it carries," said Lou Ross, C.E.O., of TexCom. The facility will store petroleum diesel and be equipped to provide fuel distributors with biodiesel/petroleum diesel blends such as B2, B5 and B20 as well as pure biodiesel. The plant is expected to be online in December 2007 producing 35 million gallons of B100 biodiesel annually. TexCom and its equity partner, US Renewables Group, previously announced execution of the engineering and construction contract for the Houston Biodiesel facility with Lurgi, Inc. of Memphis and completion of project financing with Stearns Bank of St. Cloud MN. Houston Biodiesel has entered into agreements with the Lansing Trading Group of Overland Park, MO for raw materials sourcing, risk management and hedging activities, as well as for off-take of biodiesel product. "Today is the result of a focused commitment that we made in 2004 to enter biodiesel production. Through this facility and additional expansion in the future, we plan to become a material factor in the domestic biodiesel industry. We are creating jobs, reducing our nation's dependence on fossil fuels, and producing a cleaner, more environmentally friendly fuel here. Biodiesel is recognized as a critical part of the long-term energy solution for America. A strong period of growth is ahead for those companies that have shown the foresight to enter the space and the capability to capitalize on the increasing demand for cleaner energy," continued Ross. About TexCom, Inc. Headquartered in Houston, Texas, TexCom, Inc. is pursuing expansion in biodiesel production and certain energy related businesses and developing them to their logical and full commercial potential. For more information, please visit the company Web site at http://www.texcomresources.com . About the LBC Group LBC is the second largest tank storage company for chemical products and related added value services in the world. Headquartered in Paris (France), the group operates over 2.3 Million Cubic meters of storage capacity at 12 locations in Europe and the USA. LBC is a fully owned subsidiary of One Equity Partners, a JP Morgan Chase company. Forward-Looking Statements Statements contained herein and the information incorporated by reference herein may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). Forward-looking statements can be identified by the use of forward-looking terminology such as, but not limited to, "may," "will," "expect," "anticipate," "estimate," "would be," "believe," or "continue" or the negative or other variations of comparable terminology. We intend such forward-looking statements to be covered by the safe harbor provisions applicable to forward-looking statements contained in Section 21E of the Exchange Act. Such statements (none of which is intended as a guarantee of performance) are subject to certain assumptions, risks and uncertainties, which could cause our actual future results, achievements or transactions to differ materially from those projected or anticipated. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demands and acceptance, changes in technology, economic conditions, the impact of competition and pricing, and government regulation and approvals. TexCom cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those TexCom expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting our business. Our expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis, including without limitation, our examination of historical operating trends, data contained in our records and other data available from third parties. There can be no assurance, however, that our expectations, beliefs or projections will result, be achieved, or be accomplished. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no duty to update these forward-looking statements. Bill Pettinatti 713-914-9193 Keith Fetter/Darren Bankston Peidmont IR (678) 455-6049 email@example.com
SOURCE TexCom, Inc.
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