CHANNELVIEW, Texas, Jan. 22 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU - www.exousiacorp.com), a manufacturer of advanced eco-friendly industrial products for worldwide infrastructure applications, today announced two appointments as the company began integration of its acquisition of Evergreen Global Investments, Ltd.
Louis Aponte, with more than a dozen years of experience in construction and project management, was appointed President of the New Jersey-based Able Energy Division of Evergreen. Able Energy is a leading supplier of heating oil, diesel, kerosene, gasoline and related energy products and services. Everett Dickson was appointed Director of Facility Operations for Evergreen. He currently oversees one of the largest biodiesel production facilities in the United States, located in South Carolina, in which Evergreen holds an interest.
"These appointments are just the first of many steps we will take in coming months to realize the strategic benefits of our acquisition of Evergreen and its portfolio of growth companies focused on clean and renewable energy," said J. Wayne Rodrigue, Chairman of the Board of Directors of Exousia. "This acquisition brings us operations that generated more than $45 million in fuel sales revenue in the most recent fiscal year with significant profitability. With this strong financial foundation, Exousia is well-positioned to build out its U.S. and China operations and execute on long-standing contracts."
Exousia announced the acquisition of Evergreen on January 13, 2010. In addition to Able Energy, Evergreen's operating companies include PriceEnergy, an e-commerce platform that solicits inquiries, generates sales and manages order fulfillment of home heating oil to customers in the Northeastern United States from Maine to Maryland.
"We see significant opportunities to expand the sales of our eco-friendly industrial products into the Evergreen operational and distribution platform," Rodrigue noted. "Our strategic goal is to grow revenue and increase profitability as rapidly as possible by taking full advantage of these and other synergies."
About Exousia Advanced Materials, Inc.
Exousia, through its subsidiary Evergreen, is the provider of a variety of fuel products to thousands of customers in the Northeastern part of the United States. It is rapidly migrating its entire product base to include Green Energy attributes. Exousia manufactures advanced eco-friendly resins, engineered particles, high-performance coatings and structural products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The company serves both domestic and international markets. Additional information on Exousia can be found at www.exousiacorp.com.
About PriceEnergy, Inc.
Headquartered in New York City, PriceEnergy is a subsidiary of Evergreen Global Investments Ltd. which is a wholly owned subsidiary of Exousia Advanced Materials, Inc. PriceEnergy is an e-commerce business that has developed, owns, and manages a proprietary technology platform that solicits inquiries, generates sales and manages the order fulfillment of, home heating oil to thousands of customers in the Northeastern United States from Maine to Maryland. www.priceenergy.com.
Safe Harbor Statement
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. We use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "goal," "intend," "may," "plan," "project," "seek," "should," "target," "will," "would," variations of such words and similar expressions to identify forward-looking statements. In addition, forward-looking statements include, among others, statements that refer to Evergreen's expected contributions to Exousia's earnings, profits and EPS; projections of earnings, revenue, costs or other financial items of Exousia, Evergreen and the combined company; the anticipated value of the combined business to customers and partners; the expected performance of Evergreen service, along with anticipated growth and trends in the business or key markets of Exousia, Evergreen, and the combined company; and plans, objectives and strategies for future operations. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: the ability of Exousia to successfully integrate Evergreen operations and employees; the ability to realize anticipated benefits of the proposed acquisition, including the expectation of greater revenue opportunities, operating efficiencies and cost savings; the ability to ensure continued performance and market growth of Evergreen's business; continued turmoil in global financial markets and economies; the availability and cost of credit; the ability to successfully develop, introduce, and sell new products and enhancements; changes in relationships with key customers, suppliers, distributors, resellers, and others as a result of the acquisition; and other factors affecting the industrial coatings and energy industries generally. In addition, please refer to the risk factors contained in Exousia s SEC filings available at www.sec.gov, including Exousia's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The companies undertake no obligation to update or revise any forward-looking statements for any reason.
SOURCE Exousia Advanced Materials, Inc.