Printer Friendly
The Free Library
19,595,263 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Arabian Recab for Trading Co., Reality Wireless Networks' Merger Partner, Announces Major Quarry Acquisition.


GIG HARBOR, Wash. -- Arabian Recab for Trading Co. ("Recab International"), the merger partner of Reality Wireless Networks, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:RWNW) ("Reality") announced that its mining division ("ARCO-MINE") has acquired a business that operates one of Saudi Arabia's major granite quarries. Recab International anticipates generating $7 million of annual revenue from this acquisition.

The quarry acquired has one of the most internationally sought after quality and color of granite called "Najran Brown." This type of granite is only available from Saudi Arabia Saudi Arabia (sä`dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop.  and there is a perpetual shortage internationally of this quality leading to high selling price and one of the best returns in the business.

Recab International plans to increase the present production rate of this quarry threefold to over 10,000 cubic meters Noun 1. cubic meter - a metric unit of volume or capacity equal to 1000 liters
cubic metre, kiloliter, kilolitre

metric capacity unit - a capacity unit defined in metric terms
 per annum Per annum

Yearly.
, which will reduce the per unit production cost and increase the profitability. The current export price of the Granite is about $700 per cubic meter (with current costs of approximately $250 per cubic meter). Demand for the granite comes primarily from Italy and China.

Recab International anticipates a $3.3 million profit to be generated from producing 10,000 cubic meters over a twelve month period.

Factory

ARCO-MINE has also acquired a marble and granite cutting and polishing factory in Jeddah, Saudi Arabia. This factory currently has a capacity of producing 2,000 square meters of granite and marble. It is expected that within a period of 6 months this capacity will be expanded to 6,000 square meters.

The end product of this factory, which is "Fabricated fab·ri·cate  
tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates
1. To make; create.

2. To construct by combining or assembling diverse, typically standardized parts:
 Granite and Marble" (polished and cut to size slabs and tiles), is exported mainly to the Unites States and Canadian building market. The local market for slabs and tiles in the Arabian Gulf Arabian Gulf: see Persian Gulf.  area is also very strong due to the construction boom in the Middle East.

About Reality Wireless Networks Inc.

Reality Wireless Networks, Inc., a publicly-traded Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada.

Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven.
, previously offered broadband wireless See wireless broadband.  services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL DSL
 in full Digital Subscriber Line

Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary
 and cable modem cable modem

Modem used to convert analog data signals to digital form and vise versa, for transmission or receipt over cable television lines, especially for connecting to the Internet.
 technologies. Reality has shifted focus to seek growth opportunities in the wireless marketplace and related product industries ir@realitynetworks.com. More information about Reality Wireless Networks Inc. can be found at www.sec.gov.

NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the company's ability to attract and retain qualified personnel; the company's ability to secure necessary financing; potential 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.
 by shareholders and/or former or current advisors against the company; the company's success in securing third-party commitments, production agreements and/or licensing contracts; the company's ability to comply with federal, state and local government regulations and/or unforeseen changes in federal or and government regulation; and the company's ability to develop new services; and other factors discussed in Reality's filings with the Securities and Exchange Commission.

For further information, please contact Steve Careaga at 253-853-3632, or send correspondence to 4916 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Sep 6, 2005
Words:583
Previous Article:Telkonet and IDACOMM Team Up; Marketing BPL Solutions.
Next Article:Visa and New England Patriots' Linemen Team up to Protect Tom Brady from Fraud; Visa Features Super Bowl Champions in National Television Spot to...



Related Articles
Saudis Will Receive US Oil Majors' Proposals For A New Type Of Partnership.
SAUDI ARABIA - Part 4 - The Overseas Refining & Market Share Investments.
Reality Wireless Receives $500,000 Financing Commitment.
Reality Wireless Networks Restructures Merger Agreement with Genesis Electronics.
Reality Wireless Networks, Inc. and Merger Partner Genesis Electronics, Inc. Announce the SunBlazer for the iPod.
Reality Wireless Networks Announces Plan to Acquire Premier Software Developer.
Reality Wireless Networks Announces Letter of Intent to Acquire $29 Million Diversified Trading Company.
Reality Wireless Networks Executes Definitive Merger Agreement With $29 Million Diversified Trading Company.
Arabian Recab Trading Completes Saudi Telecom Licensing Procedure.
Arabian Recab Trading Announces 300% Increase in Revenues.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles