Date: March 19, 2007
Source: U.S. Microbics
U.S. Microbics (OTCBB: BUGS) has hired two consulting firms to help in the acquisition of U.S.-based environmental companies to provide domestic revenues that balance the increased revenues being generated in Mexico through its subsidiary, Sub-Surface Waste Management of Delaware, Inc., (OTCBB: SSWM). BUGS is seeking acquisition candidates which can use its proprietary technology or can provide complimentary technology or distribution channels into new markets in the U.S. and Mexico.
BUGS has proprietary technology for the cleanup of soil and groundwater contamination from hydrocarbons, human and animal waste, and agricultural growth enhancement products for food and fuel crops such as corn and sugarcane used in the production of ethanol. The company also specializes in turning industrial waste streams into resource steams which generate energy or recycle products for multiple uses. The BUGS' solution delivery philosophy is to use U.S. based project managers in collaboration with in-country local labor and technical resources to treat the source of contamination problems quickly and cost effectively while creating new job opportunities and improving the environment for local residents.
Robert Brehm, CEO of U.S. Microbics, commented, "With the ramp-up of our environmental business with various state and federal governmental entities in Mexico and our pending new financing for additional projects in Mexico, Central and South America, it is time to revisit our strategic plan for growth by acquisition in the U.S. BUGS has hired two consulting firms to identify acquisition candidates, perform due diligence and provide acquisition financing and integration into the BUGS family of environmental companies. The candidate companies targeted will have complimentary technology for existing or pending BUGS projects or provide new markets for existing BUGS technology and will have substantial upside potential with added financing and management direction."
Brehm continued, "The consultants have already presented several candidates which are currently in the due diligence process. We are reviewing an environmental transportation company with approximately $10MM in revenues, a material recycling company with $5MM in revenues and a bio-diesel startup company seeking a West Coast presence. Our goal is to acquire $5MM to $20MM in U.S. based revenue to balance the expected near term revenue foreseen in Latin America over the next 12-24 months. We would like to be able to complete at least one acquisition before the end of our fiscal year in September and our acquisition team is working hard to accomplish this task."