The Quantum Group Inc. Announces Strategy to Pursue Strategic Alliances; Pursuing Advanced Technologies Through Strategic Alliances to Accelerate Growth Plans.
TUSTIN, Calif.--(BUSINESS WIRE)--Feb. 1, 2001
The Quantum Group Inc. (OTCBB:QTMG), Thursday announced that it is pursuing strategic alliances within the asphalt paving industry to leverage their presence in this growing industry.
"The Quantum Group is well positioned to address this opportunity, with our many years of experience and established presence in the crumb rubber industry. This expansion of our business plan is an important step forward in our strategy to strengthen our position in this market," commented Keith Fryer, president and chief operating officer.
"Recognizing a unique opportunity, we have restructured the company and focused our efforts within the recycled rubber market. The company and Modified Asphalt Technologies Inc. (MAT) have mutually agreed to rescind the MAT purchase agreement entered into in January, 2000.
"Quantum Group believes it is now positioned to acquire and develop technology driven products and services primarily related to waste tire and rubber recycling industries. We are currently in negotiations to acquire more advanced technologies to use in conjunction with strategic alliances," Fryer continued.
Quantum's intent is to establish itself as a leader in the worldwide environmental technology and crumb rubber modified asphalt paving arenas by expanding on its core activities to create compelling applications to generate demand for its products. Quantum continues to identify new technologies that may be synergistic with Quantum's strategic focus.
For more information on The Quantum Group, visit the company's Web site at www.tqginc.com.
No stock exchange or Securities Commission has approved nor disapproved the statements in this release. Any statements that are not strictly historical are "forward-looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to a number of risks and uncertainties that may affect actual events or results materially. These include, but are not limited to: the company's ability to obtain adequate financing to further its current and future business strategies; the company's historical lack of profitability; the effects of business and economic conditions generally; and, other risks associated with a development stage company. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company are expressly qualified by these cautionary statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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|Date:||Feb 1, 2001|
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