AERT Secures $13.5 Million Funding for New Waste Mining Facility.Oklahoma Agencies and Cherokee Nation Support Project; New Plant to Reduce Material Costs & Ensure Supply SPRINGDALE, Ark. -- AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on CM: AERT) announced today that it has closed a $13.5 Million financing to fund the construction of a plastic waste mining and reclamation facility near Watts, OK. When built, the facility is expected to significantly reduce the Company's raw material costs and assure a stable supply of raw materials. In addition, the plant has the potential of producing new products for sale in the world plastics market and generating additional revenue streams for the Company. The facility is expected to be in operation by the end of 2008. Commenting on the transaction, AERT CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Joe Brooks noted, "With petrochemical prices skyrocketing and supply becoming increasingly unpredictable, we set out two years ago to develop a proprietary source of raw materials that would insulate us from price and supply gyrations. Our initiative, dubbed the Advanced Resource Recovery Project (ARRP ARRP Animal Research Review Panel (Australia) ARRP Acid Rain Research Program ARRP Adverse Reaction Reporting Project (UK, dental materials) ARRP Asbestos Roof Replacement Program ) is based on a number of innovations that build on and complement our existing recycling and reclamation technologies. The support of various State of Oklahoma agencies and the Cherokee Nation not only greatly assisted us in funding the project, but also provided validation of our strategy." The all-debt transaction, titled "Adair County Adair County is the name of four counties in the United States:
Yearly. . The offering was underwritten by Gates Capital Corporation and purchased by Allstate Investors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the investment management subsidiary of Allstate Insurance Company. A Company spokesman noted that more details of the project and financing will be made available in filings with the Securities and Exchange Commission and future press releases. About AERT: Since 1989, AERT has pioneered the use of recycled polyethylene plastic in the manufacture of composite building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . . With its constantly evolving portfolio of patented and proprietary recycling technologies, AERT has been widely recognized as a leader in resource conservation innovation and received the EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. Award for Environmental Excellence for its process of converting scrap plastic to composite outdoor decking. AERT converts reclaimed plastic and wood fiber waste into quality outdoor decking systems, fence systems, and door and window components. The Company is the exclusive manufacturer of Weyerhaeuser ChoiceDek[R] decking, which is available in multiple colors and is sold in all Lowe's Home Improvement stores. See www.choicedek.com for more information. AERT's MoistureShield[R] decking program is expanding and products are available in many parts of the U.S. now, with national distribution planned for 2008. See www.moistureshield.com for product information or to find a regional distributor or dealer. AERT operates manufacturing facilities in Springdale, Lowell, and Tontitown, Arkansas; Junction, Texas; and Alexandria, Louisiana. For more information on the Company, visit www.aertinc.com. Certain statements in this news release regarding projected results of operations, or, projected results of financial plans or future strategies and initiatives, including, but not limited to, projections of revenue, projections of profitability, any and all future expectation, and plans for future activities may and should be regarded as "forward-looking statements" within the meaning of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act. These statements involve, among other things, known and unknown risks, uncertainties and other factors that may cause AERT, Inc.'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 such forward-looking statements. AERT currently is considering, but may or may not in the future implement any or all of the items and issues listed in any planned budget or strategic initiative, due to, among other things, known and unknown risks, uncertainties and other factors. AERT, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, change in strategy, or otherwise. The above mentioned listing of risks and uncertainties is not inclusive. For a more detailed discussion of some, but not all, of the risks and uncertainties that may affect AERT, Inc., see AERT, Inc.'s filing with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , for the fiscal year ended December 31, 2006 and its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 30, 2007. |
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