SCOTTSDALE, AZ — (Marketwire) — 03/21/12 — AER Energy Resources, Inc. (PINKSHEETS: AERN) announced today that its broker agreement with Pennsylvania-based USA Recycling Industries, Inc. (PINKSHEETS: USRI) has been substantially expanded by now handling UMO (used motor oil) collection from nationwide major auto-service center customers including General Motors, Ford, Chrysler, Toyota and Volkswagen franchised new car and truck dealership locations.
Stanley F. Wilson, AER Energy Resources, Inc., President, stated, “USA is committed to continually expanding its used motor oil collection division and this Auto Dealership Service Center customer expansion will add substantial revenues to the AER broker agreement. USRI has recognized AER Energy as a leader in the UMO brokerage sector and has chosen AER to support them in that process. AER is pleased to represent USRI with our UMO broker services and this expansion to our agreement continues our commitment to working with USA Recycling.”
USA Recycling Industries CEO Vincent J. Smith commented, “We are excited about further inroads we have made into auto service center dealership operations by providing our customers with yet another key UMO (used motor oil) waste collection & disposal service.” CEO Smith continued, “USRI has established a new direct relationship with an Indiana-based UMO re-refiner providing both USA Recycling Industries and AER Energy Resources a strategic advantage in the UMO marketplace.”
With this addition of hundreds of nationwide auto service centers UMO is projected to bring AER Energy estimated additional annual revenues of $1,000,000.
AER Energy Resources, Inc. () is a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution.
USA Recycling Industries, Inc. () is a publically traded mid-market scrap metal recycler servicing commercial & industrial customers throughout North America. The Company now participates in a $75 billion global scrap metals market through its acquisition of Scrap USA in January 2011. Operating since 2007, Scrap USA has been focused on and successful in targeting the Automotive Service Centre Industry. It currently provides specialty recycling programs to more than 4,000 automotive service center locations operated by some of the most recognizable names in that retail category. The Company–s contracted automotive scrap metal suppliers are listed on the NASDAQ, New York Stock Exchange and others are owned by some of the world–s largest hedge funds. Having developed a national footprint in its current market of scrap metal collection & processing the company is now comfortable with integrating other ancillary products such as used motor oil and other automotive related recyclables to its specialty services. The Company also has a majority interests in Energy, Inc. which has been engaged in selling & distributing fuel oil, since 1962, to businesses & private residences in state of Pennsylvania.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases “would be,” “would allow,” “intends to”, “will likely result,” “are expected to,” “will continue,” “anticipate,” “expect,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “considers,” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company–s historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company–s past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.