American Fiber Green Products Inc., Nears Deal on Florida Joint Venture
TAMPA, FL, Mar 26, 2012 American Fiber Green Products, Inc. (OTCBB:AFBG) (pinksheets:AFBG) today announced that negotiations have advanced on a possible joint venture operation with Florida partners to facilitate the recycling of abandoned and salvage boats from Florida rivers and tributaries, as well as the Gulf of Mexico.
Ken McCleave, Chairman of American Fiber Green Products, Inc. Board of Directors, noted that in excess of 100 acres of land have been identified in West Central Florida to accommodate a fiberglass boat recycling operation. The property’s owner has agreed to make the property available in conjunction with a third entity equipped with barges and other equipment required to raise the Coast Guard estimated 9000 boats that lie in the shallow waters of the Gulf of Mexico. Florida, like many other states, struggles with the number of boats left abandoned both in the waterways and on land. Our ability to process fiberglass and recycle to new marketable products will be the catalyst to a successful business venture.”
It is anticipated that a boat recycling depot can be operating in the next 90 to 120 days. Many states have funds earmarked specifically for abandoned boat programs.
Company President, Daniel Hefner, offered, “In the aftermath of Hurricane Katrina and other storms, our coastal states have been littered with thousands of boats. In the cleanup after the storm, salvagers stripped boats of their valuable electronics and metals, leaving the fiberglass shells behind as eyesores to the landscape and hazards in the shallow waterways. Insurance companies paid owners for their losses and have continued to pay countless claims for boats damaged as they strike obstructions just under the surface. The Florida Keys offer a particularly vivid picture of the problem as you view the numerous masts protruding from the water. We will offer a pickup service as well as an owner drop off option. Fees will be derived from all services offered. We expect to be able to replicate this operation in multiple states in conjunction with other fiberglass manufacturing trim disposal.”
Hefner stated that the partners are so sure of success that plans are being made to acquire up to an additional 300 acres to accommodate the recycling initiative.
American Fiber Green Products, Inc. trades under the symbol AFBG. The company maintains a website at www.americanfibergreenproducts.com .
AFBG has a Strategic Partner in American Commerce Solutions, Inc. trades Over the Counter under the symbol, AACS. The Company maintains a website at www.aacssymbol.com
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