Science & Technology
Science and Technology
Science and Technology
Tue, February 17, 2009
Anviron Completes Development of US Marine Operations Company
SEATTLE--([ BUSINESS WIRE ])--The Anviron Holding Company (Pink Sheets: ANVH) ("Anviron"), a manufacturer and marketer of "Clean & Green" products and technology, announced today that they have reached final agreement for the development of Anviron's US Marine Operations. Final documentation has been completed by Anviron and awaits filing with local, state and federal authorities. As one of the final steps associated with the establishment of the subsidiary, The Avalon Group Ltd in cooperation with the Anviron Holding Company has authorized the cancelation of 42 million restricted shares of common stock held by Avalon in escrow since September 2008 pending the completion of these negotiations.
"This is an exciting milestone for our company, and one we have been working on since September 2008," stated Steve Young – COO of Anviron. "We look to the future in scaling our growth in the US market through this strategic addition to our Anviron's worldwide operations. By completing this transaction within budget and negotiated timelines – we have immediately increased the shareholder value by approximately $0.008539156 per share or an estimated 22.88% increase due to the reduction in the Issued and outstanding shares in our Company.
"Anviron will build upon our current operations team and the strengths of our consulting and advisor partners at Hyundai and the National Marine Dredging Company to develop a state-of-the-art beach renourishment operation. The US beach renourishment segment represents a market of some $1.7 billion for the expanded Anviron operations, making it a very significant and valuable market for services and products we produce. The industry is currently fragmented among pure dredging operations and cross-over landscaping services, and lacks a coherent industry leader giving Anviron a prime opportunity to capture a large market share," stated Steve Young – COO of Anviron.
"By tapping into the strengths of our strategic consulting and advisor partners, and utilizing our relationships with our Italian business partners we anticipate entering the US beach renourishment industry with a modest 0.25% market share representing more than $2 million in fiscal year 2009 and then expanding from there," stated Robert Rossi – Senior VP of Operation for Anviron.
Anviron Limited - Director, Antonio Bufalino, said, "I look forward to working with our US subsidiary team to deliver significant value to our clients and welcome the expansion of operations to develop a stronger and more robust future in the US markets."
Anviron is a company dedicated to bringing to market "Clean Solutions to Complex Problems" by offering a wide range of biodegradable, environmentally friendly products and technologies that will substitute for many of the hazardous chemicals commonly used all over the world. For information about Anviron and its product offerings visit us on the web at [ www.anviron.com ].
This press release contains forward-looking statements regarding Anviron within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management's current expectations and cannot be guaranteed. The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting Anviron. Forward-looking statements speak only as of the date on which they are made and Anviron undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise.
