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Green Parts International, Inc. Announces Update

^{Published on 2013-03-06 05:15:54 - Market Wire}
 

Green Parts International, Inc. Announces Update -- ATLANTA, March 6, 2013 /PRNewswire/ --

ATLANTA, March 6, 2013 /PRNewswire/ -- Green Parts International, Inc. (Pink Sheets: [ GNPT ]), GNPT.PK, announced today a general update on the progress and status of the company.  As a "green" company, GP engages in the recycling of vehicles and appliances.  The recycling of these products covers markets ranging from automotive, steel, oil, and other metals like copper and aluminum.  Green Parts International, together with its subsidiaries, provides service and products around the world, primarily in the US, Far East (South Korea) and India.

Green Parts International announces annual financials for the year ending December 31, 2012. The total revenues aggregate were $12,535,583 GNPT, had net income of $521,405, and a 4.16% net income level. In addition, excluding onetime charges the net income would have been $975,263.00, a 7.78% net income level. 

A statement from President/CEO Asif commented, "Over the past several years GNPT has aggressively and successfully restructured its debt service and streamlined its operations. In addition, GNPT continues to seek cost cutting measures while focusing on strategic growth initiatives and increasing synergies between metal recycling business and auto parts business. In the coming months GNPT will be announcing market outlooks and various other statements regarding its plans to initiate new verticals and capitalize on strategic opportunities."  

Green Parts International is headquartered in Atlanta, GA, that deals in the global commodity of scrap metal and used auto parts and delivers tonnage to countries with demand. GNPT is a cleanup company for the United States salvaging vehicles, vehicle parts and reusable scrap for shipment to high demand projects both domestically and abroad.  For further information about Green Parts International, visit the websites; [ www.greenparts.com ]

Forward Looking Statement

The contents of this Press Release may be deemed to include forward-looking statements within the meaning of United States securities laws and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are only predictions and you should not rely on them. Actual results might differ materially from those projected in any such forward-looking statements. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. We cannot guarantee future results, levels of activity, performance or achievements. In evaluating forward-looking statements you should consider various factors including risks inherent in the scrap metal business sector.

SOURCE Green Parts International, Inc.