Corporate Profile for Probex Corp. dated Nov. 24, 2000.Business/Technology Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services.
Published Date: Nov. 24, 2000
Company Name: Probex Corp.
Address: One Galleria Tower, 13355 Noel Rd., Suite 1200
Dallas, TX 75240
Main Telephone
Number: 972-788-4772
Internet Home
Page Address
(URL) www.probex.com
Chief Executive
Officer: Charles M. Rampacek
Chief Financial
Officer: Bruce A. Hall
Investor Relations
Contact: Les Van Dyke
Business number: 972-788-4772, Ext. 140
E-mail address: lvandyke@probex.com
Public Relations
Contact: Les Van Dyke
Business number: 972-788-4772, Ext. 140
E-mail address: lvandyke@probex.com
Industry: Energy Technology
Trading Symbol/
Exchange: AMEX--PRB
Company Description: Probex is a Dallas-based energy technology company that has developed and patented its environmentally beneficial ProTerra(TM) lubricating oil technology for reprocessing Reprocessing may refer to:
v. pu·ri·fied, pu·ri·fy·ing, pu·ri·fies v.tr. 1. To rid of impurities; cleanse. 2. To rid of foreign or objectionable elements. 3. and upgrading used motor oils. ProTerra(TM) has demonstrated unparalleled advantages in the highly economic creation of premium quality base oils capable of meeting new motor oil standards without creation of waste by-products. The goal of Probex is to become the world leader in reprocessing used lubricating oils into premium quality base oils through timely commercialization of its ProTerra(TM) technology. Probex expects to begin construction on its first plant in the first quarter of 2001 with completion and start-up in the first half of 2002. The plant will convert used oil into three valuable products: ProLube(TM), ProPower(TM) and ProBind(TM). ProLube is a premium quality lube base oil meeting the new GF-3 standards manadated for model year 2002 automobiles. ProPower is a high quality light distillate dis·til·late n. A liquid condensed from vapor in distillation. distillate a product of distillation. and ProBind is an asphalt asphalt (ăs`fôlt, –fălt), brownish-black substance used commonly in road making, roofing, and waterproofing. Chemically, it is a natural mixture of hydrocarbons. flux or modifier (programming) modifier - An operation that alters the state of an object. Modifiers often have names that begin with "set" and corresponding selector functions whose names begin with "get". . It is the company's goal to build a total of five domestic and four international plants by the end of 2006. Until recently, Probex has been strictly a development stage company. With the acquisition of three used oil collection companies during the past year, Probex achieved operating status. The collection companies are currently producing annual revenue of approximately $15 million and generating annual net cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses of $5 million. Probex stock has traded between $5.25 and $1.75 during the past 52 weeks. Probex has formed strategic alliances with Bechtel Corporation, Hartford Steam Boiler and Environmental Resources Management. Bechtel is proceeding with design and engineering for the first plant at Wellsville, OH, and will provide turnkey construction services for Wellsville and future plants. ERM (Enterprise Relationship Management) An umbrella term with many shades of meaning over the years. It may refer to the management of information from any or all of an organization's customers, suppliers, business partners and employees. is providing environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, for the Company and HSB (Hue Saturation Brightness) A color space that is similar to the way an artist mixes colors by adding black and white to pure pigments. The pigments are the hues (H), measured in a circle from 0 to 359 degrees (0=red, 60=yellow, 120=green, 180=cyan, 240=blue, has committed to provide System Performance Insurance that guarantees performance of the Wellsville plant for the senior lender. All three are major investors in the Company. |
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