SCOTT, La., June 21 /PRNewswire-FirstCall/ -- ESP Resources, Inc.(OTC Bulletin Board: ESPI) completed the purchase of certain assets and liabilities of Turf Chemistry, Inc. ("Turf") with the issuance of 2.0 million shares of ESP Resources stock to the owners of Turf on June 16, 2010.
Additional details of the purchase are contained in the 2009 10-K filing for ESP Resources, Inc.
"With the Turf acquisition, the combined companies operational footprint for coverage, support and delivery of chemical products finished goods has more than doubled," said David Dugas, President of ESP Resources, Inc. "We plan an aggressive expansion into areas currently serviced by Turf Chemistry for the remainder of 2010 and 2011."
Turf Chemistry, Inc., based in Mission, Texas, has been in business since 2006 and is a manufacturer and distributor of market specialty chemicals for the oil and gas industry in the Southwest and southern regions of Texas. The company supplies production chemicals, drilling chemicals, waste remediation chemicals, cleaners, and waste treatment chemicals for various oil field applications. The Turf product line includes surfactants, well completion and work-over chemicals, bactericides, scale inhibitors, antifoams, paraffin inhibitors and water clarifiers.
About ESP Resources, Inc.
ESP Resources, Inc. is a publicly traded petrochemical company (OTCBB: ESPI) headquartered in Scott, LA. Through its wholly owned subsidiary, ESP Petrochemicals, Inc., ESP is a manufacturer, blender, distributor, and marketer of specialty chemicals and analytical services to the oil and gas industry. ESP supplies retail and wholesale specialty chemicals for a variety of oil field applications including production, drilling, waste remediation, cleaning, and waste water treatment. From its 11,000 square foot blending and distribution facility, ESP distributes its product line throughout the Gulf Coast region of Louisiana, Texas, Mississippi, and Alabama, both onshore and offshore. The wholesale division of the company supplies specialty chemicals to several retailers operating in West Africa. The company's senior management has over 100 years of combined operating experience in the petrochemical industry. www.espresourcescorp.com
Legal Notice Regarding Forward-Looking Statements
This press release contains "forward looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. In evaluating these statements, you should consider the risks discussed, from time to time, in the reports we file with the US Securities and Exchange Commission. For a discussion of some of the risks and important factors that could affect the firm's future results and financial condition, see "Risk Factors" in Part I, Item 1A of the firm's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of the firm's Annual Report on Form 10-K for the fiscal year ended December 31, 2009.
SOURCE ESP Resources, Inc.