NewswireToday - /newswire/ -
Muntinlupa City, Metro Manila, Philippines, 2010/03/12 - Palingenesis Manufacturing, Inc. announces the sale of there revolutionary Palingenesis Hazardous and Toxic Waste Processing Systems to Eco-Safe waste Management, Inc. (ESWM) with a contract value of over $27,500,000.00 USD.
Ted J. Staley, Chairman of Palingenesis Manufacturing, Inc. said, “that ESWM has been operating under an exclusive territorial licensing agreement from Palingenesis Manufacturing Inc. “PMI” for the past two and a half years to utilize the PMI proprietary H&T Waste Treatment and Processing Systems within the Continental United States and the U.S. Department of Defense and is now positioned to make a substantial impact on the waste management industry.
ESWM’s Chairman, Gilmore Ching in an interview confirmed that they are currently, in discussion and the final planning stages with management and government administrators. Gilmore Ching further said that these are the people who make the key decisions in the management of Hazardous, Bio-Medical and MSW (Municipal Solid Waste). These groups include Government, Charitable (U.S. non-profit 501-C-3) and large Private Corporate clients located in the U.S. (Hawaii and Guam), Haiti, and various South American countries regarding the procurement of waste management solutions for ongoing public works and infrastructure projects for the effective and environmentally safe management of complicated waste issues.
Gilmore Ching went on to say that ESWM has positioning itself to make 2010 the year that they effectively coordinate all sales and marketing efforts and reach critical mass thereby, effectively creating a “Paradigm Shift” in the total Waste Management Industry. To realize a portion of these goals, ESWM is actively working with a large charitable organization, who is closely involved with environmental and technical innovative companies such as ESWM at the U.S. Federal Government and U.N. NGO level for infrastructure projects.
Palingenesis Manufacturing, Inc. (palingenesismfg.com) is a company dedicated to the design, manufacture and operation of proprietary equipment intended for the treatment and processing of Municipal Solid Waste (MSW) and most types of the Industrial, Commercial, Hazardous and Toxic Waste including Hospital, Solid, Liquid and Sludge Wastes that are generated in today's market.
Palingenesis began developing its process technology over seven (7) years ago and after thousands of trials and hundreds of laboratory tests on a wide range of diverse waste streams carried out using the Palingenesis proprietary chemical mixtures/formulas and additives the company can state with authority that its process and machinery have no peers, either in the ability to treat the various waste streams, or operate at positive cash flow.
Palingenesis owns and operates though its subsidiary company, Gennix/Pathogenesis Inc. (gennixinc.com) a 36,500 metric tonne per year hazardous and toxic waste treatment and processing centre in Metro Manila, Philippines and is the largest single treater of industrial and commercial H&T waste including clinical waste in the Philippines. PMI has sold its propitiatory waste processing systems to the city of Vladivostok Russia for MSW and Bahrain for clinical waste. Sales are in the final funding stage in Nigeria and China and now that agreements with ESWM have been finalized PMI will realize substantial profits for its share holders in 2010.
Safe Harbor Statement:
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.