LONDON, July 5 /PRNewswire-FirstCall/ -- ACI Global Corporation (previously Par Advance Technologies, Inc.) (Pinksheets: PRVG) announced today that it had completed the acquisition of Green Machine Investments Ltd. by issuing the balance of the total of 315,000,000 shares of common stock agreed to be issued in exchange for all of the shares in Green Machine Investments Ltd.
Green Machine Investments Ltd. through its subsidiaries the ACI Group of Companies is a global leader in rubber recycling technology; the technology allows used tires to be processed into Micropowder(TM), which can be used in the manufacturing of tires and other rubber products.
The company also announced today that agreement has been reached with the Government of Bahrain to build a production plant in Bahrain where inexpensive natural gas is available to be utilized in the cryogenic process.
The Bahrain Project will be operated by ACI Investments Bahrain W.L.L. (ACI) a company currently under formation in Bahrain. The Government of Bahrain has issued the Government approvals for the Project, The Kingdom of Bahrain, Ministry of Industry has agreed to lease to ACI for a period of sixty years a 100 hectare site located in the Hidd Industrial Area of Bahrain. The site is adjacent to The Bahrain Petroleum Company Refinery from which the refinery has agreed to supply the natural gas feedstock on a long term basis.
Michael Howarth the CEO of ACI Global Corporation commented that the long term gas supply contracts are valuable to the company due to the long term nature of the contracts and the fixed price.
Has anyone had any dealings with this company or seen any agreement as stated in the press release made by Michael Howarth.
