MOP Environmental Solutions and Saudi Arabian Team Announce Signing a Joint Venture to Establish MOP Environmental Solutions of
07 June 2011 - 2:36AM
Marketwired
MOP Environmental Solutions, Inc.
(PINKSHEETS: MOPN)
reached and signed a formal
agreement today with our Saudi Arabian Team ("Team SA"). The
agreement establishes and defines a Joint Venture by the name of
"MOP Environmental Solutions of Saudi Arabia" (MOP-SA). This Joint
Venture establishes an ongoing working presence in Saudi Arabia
that immediately authorizes commencement of the following
activities by Team SA on behalf of MOP-SA: Consulting, Marketing,
Distribution, Sales, Procurement of Financing, and Regional
Manufacturing.
The Company's CEO, Charles M. Diamond, commented, "The signing
of the Joint Venture Agreement has resulted in greatly increased
communication with Team SA. There is much enthusiasm among all
parties to proceed with all possible diligence toward the formal
Development of Strategic Relationships with Oil Companies,
Refineries, Pipeline Companies, Shipping Companies, Spill Response
Companies, and Governmental Agencies."
Diamond described the following other highlights of the Joint
Agreement: "To ensure the long term combined success of MOP
Environmental Solutions, Inc., (MOP) and MOP Environmental
Solutions of Saudi Arabia, (MOP-SA); the agreement provides that:
"All equity and debt investment from sources
arising from Team SA's efforts will be held in a separate account
and specifically targeted to meet the capital needs of the MOP-SA
Joint Venture." "The parties will ensure that the funds:
1." are used in conformity with all US and Saudi
laws, rules and regulations; 2. "are used to advance the interests
of MOP shareholders."
In the areas of Marketing, Distribution and Sales, Diamond
stated: "Team SA shares the following common goals: 1. "Acquisition or start-up of an
On-Site Spill Response company to provide associated Full Service
Oil Spill Response, Consulting, Training and Workshops throughout
the Middle East; 2. "Team SA will consult with appropriate
government officials to determine what official filings are needed
to proceed to the commercial phase of operations; 3. "Determine
strategies for setting up operations within an approved commercial
phase of operations; 4. "Develop a sales and marketing plan
identifying which services and goods to focus on in each market
segment and the budget and scope of the marketing effort in order
to commence commercial activity in the Kingdom of Saudi Arabia,
Turkey and other mutually agreed upon regions; 5. "Incorporation of
Oil Spill Response Contingency Methodology for the entire Arabian
Gulf in accord with predicted trajectories and likely release
probabilities to mitigate regional shoreline and aquatic
damage." http://www.asascience.com/projects/pdf/90-032-ADNOC-OilSpillModel.pdf
Diamond further summarized: "The signing of
this Joint Agreement precludes any further delay in the development
of Strategic Relationships to take place between Team SA and Oil
Companies, Refineries, Pipeline Companies, Shipping Companies,
Spill Response Companies, and Governmental Agencies for Consulting,
Marketing, Distribution, Sales, Procurement of Financing; and for
Cleanup of Shoreline Oil Spills; and for Generalized Oil Spill
Cleanup, Preparedness and Response, throughout the Kingdom of Saudi
Arabia, Turkey and other mutually agreed upon regions; and for
Regional Manufacturing."
ABOUT MOP ENVIRONMENTAL SOLUTIONS, INC.:
MOP ENVIRONMENTAL SOLUTIONS, INC. participated in the cleanup
effort of the BP Horizon Gulf Oil Spill.
MOP Environmental Solutions, Inc. (PINKSHEETS: MOPN) is a
publicly traded company. MOP Maximum Oil Pickup™ is a
"cradle-to-cradle" green product that is arguably the most
effective oil spill recovery system on the market. For information
see www.mopenvironmental.com.
Brief Description of the MOP Technology:
MOP Environmental Solutions, Inc. manufactures and distributes
MOP® Maximum Oil Pickup. MOP picks up and recovers oil
spilled on land and/or water. This revolutionary, 100% recyclable,
absorbent material, picks up to 30 times its own weight in oil,
without absorbing water, restores traction on slippery surfaces,
yet is as safe to the environment as a leaf falling from a tree.
MOP offers the fastest, safest, lowest cost way to restore a clean,
natural environment from any oil spill, indoors, outdoors, on land
or water in all weather conditions, and uniquely can pay for itself
from the offsetting revenues of its oil recovery option.
MOP Environmental Solutions, Inc. addresses All Oil Spill Needs
in Three Multi-Billion Dollar Markets.
- Direct to the Consumer -- Ideal for leaks and spills from Auto,
RV, Motorized Home Equipment and Used Cooking Oils.
- Commercial Industrial -- Every company with machinery has a
need for MOP.
- International Spill Response -- MOP as the First Response is
The Best Option for All Oil Spills on Land or Water.
Forward-looking statements in this news release are pursuant to
safe harbor provisions of Section 21E of Securities Exchange Act of
1934. Investors are cautioned that statements in this release are
not strictly historical statements, including without limitation,
management's plans and objectives for future operations, assessment
of market factors, statements regarding strategy, company plans and
its strategic partners. These constitute forward-looking
statements, are not guarantees of the company's future performance
and are subject to risks and uncertainties, such as funding for
machinery and materials, success in acquiring customers,
maintaining needed government relationships, and successfully
executing a business plan, which could cause the company's actual
future results to differ materially from the forward-looking
statements. For all such forward-looking statements, we claim the
safe harbor for forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. MOP
Environmental Solutions, Inc. disclaims any obligation to update
any forward-looking statement made herein.
CONTACT: Wayne D. King (603)-786-9378 MOPEnvironmental@gmail.com
MOP Environmental Solutions, Inc. www.MOPenvironmental.com
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