SCOTTSDALE, AZ — (Marketwire) — 10/17/11 — AER Energy Resources, Inc. (PINKSHEETS: AERN) has successfully signed an agreement with USA Recycling Industries, Inc. (PINKSHEETS: USRI) of Reading, Pennsylvania to act as the exclusive broker of 100% of the used motor oil collected by USA from its automotive service center customers.
Stanley F. Wilson, AER Energy Resources, Inc., President stated, “USA is committed to bundling its existing scrap metal service with the collection of the used motor oil waste stream and recognizes AER as a leader in that segment to assist them in that process. As an officer and director of USA as well, I have acquainted USA with the benefits AER can bring to their effort. AER is pleased to have been selected to work with USA.”
“As USA gears up for our planned franchise offering, the addition of the UMO collection service to our existing scrap metal collection will make us that much more competitive to our 4,000 automotive service centre locations,” said Vincent Smith, USA CEO. “Our pro-forma projects this new UMO collection stream could generate $102,300,000 of new revenue to USA in 2012 of which AER will generate fee income,” Smith added.
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 December 2010. Operating since 2007, Scrap USA has been focussed on and successful in targeting the Automotive Service Centre Industry. It currently provides specialty recycling programs to more than 4,000 automotive service centre 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.
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.