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10.11.2009
ECOLOGIX Resource Group Expects to Record Revenue by Year-End
ECOLOGIX Resource Group Expects to Record Revenue by Year-End
BEVERLY HILLS, CA -- November 9, 2009 - ECOLOGIX Resource Group (OTCBB: EXRG), a natural resource company focused on the timber industry and production of alternative energy solutions, announced today it expects the Company's operations will be revenue-generating by the end of 2009, ahead of internal forecasts.
ECOLOGIX recently reported it had commenced operations in Cameroon ahead of schedule. This accelerated schedule coupled with some favorable market conditions are directly responsible for the Company's accelerated revenue forecast.
Jason Fine, Chairman and CEO of ECOLOGIX Resource Group, said, "We are pleased to be able to capitalize on the strong demand we are seeing in the marketplace. Due in large part to thoughtful planning and a relentless focus on execution we are now positioned to monetize our efforts ahead of schedule. While we've been very aggressive in terms of capitalizing on natural resources in a way that's environmentally-friendly, we've been equally as diligent in running our operations in a manner that provides a solid foundation for future growth. UN Ambassador Juan Avila, a Director of the Company, continues to provide invaluable guidance in helping us in achieving our ultimate objective of becoming a model for harvesting timber without negatively impacting the environments in which the Company operates. If recent indicators of global market demand are any prediction of future growth, I can safely say ECOLOGIX has a bright future ahead of it."
The Company cited leading market indicators for the increased demand leading to its advanced revenue forecast. According to the ITTO (International Tropical Timber Organization) approximately 60% of the timber imported to the PRC (Peoples Republic of China) during 2008 was through Cameroon, most being derived from the northern forest regions. Most of this timber was destined for the EU (European Union). Many of the concessions supplying this timber are certified by the FSC (Forest Stewardship Council). During May 2009, the country signed a voluntary partnership agreement with the EU to ensure that only legal timber would be exported. In addition, during a recent speech made at the UN regarding climates changes, Mr. Jia Zhibang, Administrator of the State Forest Administration of China, said that the Chinese Government attaches importance to the role of forests in mitigating climate change and has already invested over US$70 billion in this field.
About ECOLOGIX Resource Group
ECOLOGIX Resource Group is a natural resource company focused on the timber industry and production of alternative energy solutions in accordance with the most stringent environmental standards regulating these industries. Additional information on ECOLOGIX Resource Group is available on its website, www.ecologixrg.com.
Safe Harbor
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that a number of factors could cause our actual results to differ materially from any results indicated in this release or in any other forward-looking statements made by us, or on our behalf. These include among others factors related to general economic conditions, interest rates, demand for materials handling products and construction equipment, performance of our manufacturing facilities and the cyclical nature of the materials handling and construction equipment industries. Further, historical information should not be considered an indicator of future performance. Additional considerations and important risk factors are described in our reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission.
ECOLOGIX Resource Group
Toll free: 1 888-LOGIXRG (564-4974)
Email: ir@ecologixrg.com
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BEVERLY HILLS, CA -- November 9, 2009 - ECOLOGIX Resource Group (OTCBB: EXRG), a natural resource company focused on the timber industry and production of alternative energy solutions, announced today it expects the Company's operations will be revenue-generating by the end of 2009, ahead of internal forecasts.
ECOLOGIX recently reported it had commenced operations in Cameroon ahead of schedule. This accelerated schedule coupled with some favorable market conditions are directly responsible for the Company's accelerated revenue forecast.
Jason Fine, Chairman and CEO of ECOLOGIX Resource Group, said, "We are pleased to be able to capitalize on the strong demand we are seeing in the marketplace. Due in large part to thoughtful planning and a relentless focus on execution we are now positioned to monetize our efforts ahead of schedule. While we've been very aggressive in terms of capitalizing on natural resources in a way that's environmentally-friendly, we've been equally as diligent in running our operations in a manner that provides a solid foundation for future growth. UN Ambassador Juan Avila, a Director of the Company, continues to provide invaluable guidance in helping us in achieving our ultimate objective of becoming a model for harvesting timber without negatively impacting the environments in which the Company operates. If recent indicators of global market demand are any prediction of future growth, I can safely say ECOLOGIX has a bright future ahead of it."
The Company cited leading market indicators for the increased demand leading to its advanced revenue forecast. According to the ITTO (International Tropical Timber Organization) approximately 60% of the timber imported to the PRC (Peoples Republic of China) during 2008 was through Cameroon, most being derived from the northern forest regions. Most of this timber was destined for the EU (European Union). Many of the concessions supplying this timber are certified by the FSC (Forest Stewardship Council). During May 2009, the country signed a voluntary partnership agreement with the EU to ensure that only legal timber would be exported. In addition, during a recent speech made at the UN regarding climates changes, Mr. Jia Zhibang, Administrator of the State Forest Administration of China, said that the Chinese Government attaches importance to the role of forests in mitigating climate change and has already invested over US$70 billion in this field.
About ECOLOGIX Resource Group
ECOLOGIX Resource Group is a natural resource company focused on the timber industry and production of alternative energy solutions in accordance with the most stringent environmental standards regulating these industries. Additional information on ECOLOGIX Resource Group is available on its website, www.ecologixrg.com.
Safe Harbor
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that a number of factors could cause our actual results to differ materially from any results indicated in this release or in any other forward-looking statements made by us, or on our behalf. These include among others factors related to general economic conditions, interest rates, demand for materials handling products and construction equipment, performance of our manufacturing facilities and the cyclical nature of the materials handling and construction equipment industries. Further, historical information should not be considered an indicator of future performance. Additional considerations and important risk factors are described in our reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission.
ECOLOGIX Resource Group
Toll free: 1 888-LOGIXRG (564-4974)
Email: ir@ecologixrg.com
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=US27888K1051
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.