ATLANTA, July 17, 2015 /PRNewswire/ -- GreenParts International, (OTC: GNPT) a recycling company with multiple locations in Atlanta, Georgia has released a statement from its CEO regarding the company's efforts to leverage its multinational partners and expand its business globally.
Chief Executive Officer Asif Balagamwala stated, "I recently traveled to the Middle East Region for a couple weeks and I'm very encouraged by the progress that I made with our potential partners. The company has always had the potential to grow in certain regions of the world, but the cost was in many cases prohibitive. However, we have committed to allocate funding to explore our global capabilities and to seize what I believe to be some incredible opportunities." The CEO continued," One such opportunity is in the concrete recycling and cement import business to not only the United States, but developing countries as well. I feel with our partner SAH Global we can be competitive in this industry and potentially add several million dollars in revenue to GreenParts in our first full 12 months of production. As the details unfold I will be releasing more information regarding the industry and the positive impact I expect this endeavor will have on GreenParts and its shareholders." Mr. Balagamwala went on to say, "We are in the very early stage of this opportunity, but this is potentially the first of what I hope to be many new international ventures. SAH Global has diverse projects within a multitude of sectors, including communication, healthcare, energy and real estate, all with an emphasis on creating a greener environment which I value as an important component of GreenParts Mission statement as well."
The CEO concluded, "As I finished my stay I worked diligently contacting other partners to expand not only our core recycling operation but to initiate other components of our strategic plan such as green energy ventures and the restructuring of our debt. We have had to use convertible debt financing in the past, and to my knowledge the positions reported in the 10q by JMJ, LG, and Asher have been completely converted and at this time the transfer agent of any pending conversions has not notified me. It is a key part of our strategic plan to replace our creditors with a more favorable lender, or even an equity partner, which will allow the company to continue to invest in some of the incredible opportunities, we have in our recently developed Scrap Management and Textile Recycling divisions as well as our renewed efforts to expand globally. The goal of this trip was to uncover any synergy that might exist between GreenParts and the contacts I have in this region. To that extent this trip has been a resounding success, and there is still work to be done in the region for GreenParts and its shareholders."
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
SOURCE GreenParts International Inc.