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Anviron Expands Potential Revenue by an Estimated $20 Million by Adding Marine Operations
Friday September 26, 9:45 am ET
SEATTLE--(BUSINESS WIRE)--The Anviron Holding Company (Pink Sheets: ANVH - News) (“Anviron”), a manufacturer and marketer of "Clean & Green" products and technology, announced today that they have reached agreement for Anviron to acquire controlling interest in Aqua Gem Of The Treasure Coast, Inc (“Aqua Gem”).
“Anviron will build upon Aqua Gem’s current operations by teaming with one of Anviron’s European clients to develop state-of-the-art marine and beach renourishment operations. We anticipate entering the marine and beach renourishment industry with a modest 1.5% market share representing more than $20 million in fiscal year 2009 and then expanding from there,” stated Robert Rossi – Acting VP of Operation for Anviron. “The US marine and beach renourishment segment represents a market of some $1.7 billion making it a very significant and valuable market for services and products Anviron produces and offers.”
Anviron is currently in final negotiations with one of its European clients to Joint Venture on this maritime operation and will make public release upon completion of the definitive agreements between the parties. The parties anticipate completion of the JV agreement between the parties by the end of October 2008. Maritime operations are anticipated to begin under the new subsidiary in February - March 2009. Upon completion of the agreement our proposed partner will take a minority position in Anviron’s operations and will provide adequate equipment, staffing and financing to operate the new maritime subsidiary of Aqua Gem as a going concern.
In addition to the revenue generated from the maritime operations, Anviron anticipates this division will generate in excess of $1.5 million in direct products sales due to its beach renourishment operations.
Anviron is a company dedicated to bringing to market "Clean Solutions to Complex Problems" by offering a wide range of biodegradable, environmentally friendly products and technologies that will substitute for many of the hazardous chemicals commonly used all over the world. For information about Anviron and its product offerings visit us on the web at www.anviron.com.
This press release contains forward-looking statements regarding Anviron within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management's current expectations and cannot be guaranteed. The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting Anviron. Forward-looking statements speak only as of the date on which they are made and Anviron undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise.