General Environmental Management Announces Growth in Oil and Gas Sector for Wastewater Treatment Facility
29 April 2010 - 8:00PM
Business Wire
General Environmental Management Inc. (GEM) (OTCBB: GEVI)
announced today that its subsidiary, Southern California Waste
Water (SCWW), anticipates that this year’s revenue from servicing
oil and gas producers will increase 75% over 2009.
Tim Koziol, CEO of GEM, said, “We are pleased that this sector
of SCWW’s base business continues to grow. GEM is committed to
providing the resources necessary to maximize SCWW’s opportunities
in the Southern California marketplace.”
“SCWW services the oil and gas industry, domestic waste
generators, and general industry,” said Doug Edwards, GEM Chief
Strategy Officer and SCWW CEO. “We were initially established by
several oil companies to service their needs and for almost 40
years that is all we did. Then for a period of a decade we
abandoned that market in favor of domestic waste and general
industry. In the past three years we have re-invested earnings to
expand our capabilities to service all three sectors. The result
has been very satisfying as both big and small oil operators
increasingly find SCWW as the best solution to their non-hazardous
wastewater disposal needs.”
Edwards explains, “The growth can be attributed to several
factors, including a strong marketing presence, the rise in oil
prices, vertical integration through the exclusive licensed use of
PetroMax and environmental services, and improved processing
capacities that enable trucks to be serviced quickly and safely. We
have plans that will further extend our growth in the energy sector
which we plan to announce this summer.”
Mr Koziol also added, “While California continues to suffer from
the recent recession, SCWW’s business model of diversification and
integration within the wastewater business sectors has enabled the
company to not only weather the storm, but to emerge stronger than
ever. Still, as California’s business outlook improves, we
anticipate additional growth in domestic waste and general industry
sectors.”
About General Environmental Management, Inc.
General Environmental Management, Inc.
(www.generalenvironmental.com) owns and operates a non-hazardous
wastewater treatment facility, Southern California Waste Water
(www.scww.com), in Santa Paula, CA, as well as provides various
environmental services and solutions. GEM is headquartered in
Pomona, California.
FORWARD-LOOKING STATEMENTS
This press release may include "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
included in this press release that address activities, events or
development that the company expects, believes or anticipates will
or may occur in the future are forward-looking statements. These
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company,
which may cause the Company's actual results to differ materially
from those implied or expressed by the forward-looking statements.
The Company assumes no duty whatsoever to update these
forward-looking statements or to conform them to future events or
developments.
General Enterprise Ventu... (PK) (USOTC:GEVI)
Historical Stock Chart
From Jun 2024 to Jul 2024
General Enterprise Ventu... (PK) (USOTC:GEVI)
Historical Stock Chart
From Jul 2023 to Jul 2024
