SALT LAKE CITY, April 25, 2011 /PRNewswire/ -- Garb Oil & Power Corporation ("Garb") (OTCQB: GARB) is pleased to announce that it has identified a strong rubber recycling acquisition candidate with existing contracts and substantial facilities. The candidate is located in Italy and could play a significant role related to potential joint ventures the Company is exploring. In addition to the technology and management experience GARB would provide to the acquisition, the facilities would be used to aid the Company in future tire recycling contracts that exist within the European Union. The business has a 24,000 metric tonne facility with appropriate warehouse and land. Garb expects to finalize the acquisition after the DD phase is completed in 45 days' time.
About Garb Oil & Power Corporation
Garb Oil & Power Corporation is a company dedicated to the application of ClosedCycle(TM) principle and NoWaste(TM) residue. Our plants for Rubber Recycling, EWaste and E-Scrap Recycling and Waste to Energy processing plants are all developed with these principles in mind. Garb believes that processing waste should be economically viable and leave NoWaste(TM). It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle (TM) principles and a world with NoWaste(TM).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this document that are not historical fact, are forward-looking statements based upon management's current expectations. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. Garb Oil & Power Corporation is not required to update its forward-looking statements.
SOURCE Garb Oil & Power Corporation