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GreenWorld Acquires 50% of Getting Green Solutions LLC

^{Published on 2011-04-02 06:45:49 - Market Wire}
 

WEST PALM BEACH, Fla.--([ BUSINESS WIRE ])--Florida based GreenWorld Development, Inc., (OTCBB: FRXP) the American-Irish aGreen and Health Technologiesa Conglomerate, signs MOU to acquire 50% of Getting Green Solutions LLC, Hudson, OH.

"The synergies between our two companies are obvious, and together with our GGS partners Noel Lawler, Tim Kinnett and Eric Eide we are best positioned to become the market leader in this field in the US, Canada and South America."

GreenWorld Development, Inc., a developing player in the global market for environmental and energy products, has acquired 50% of Hudson, OH., based Getting Green Solutions LLC (GGS), specialised on environmentally sound waste disposal by either recycling or converting waste into energy.

GGS (valued at $10 million USD) has proven technologies in place and is presently putting into operation processes in two sectors: Municipal Waste and Tire Recycling CryoVortexa" , a process machine that uses acryogenica for scrap tire recycling (aGreenTirea™). The patented aGreenTirea™ technology is converting waste rubber products for reuse in manufacturing and in construction. GreenTirea™s first plant has been deployed in Ohio and will deliver revenue of $3.5 million USD in the first year. Seven more sites in the United States are currently negotiated. Additionally, GreenTirea™s technology will also be licensed for export. The first transfer will be to GreenWorlda™s UK joint venture with FE4 Ltd., who holds the Waste Transfer licenses for tires, municipal (black) waste and plasterboard in the United Kingdom.

GreenWorld CEO Leo J. Heinl says: aThe synergies between our two companies are obvious, and together with our GGS partners Noel Lawler, Tim Kinnett and Eric Eide we are best positioned to become the market leader in this field in the US, Canada and South America.a

GreenWorld Development, Inc. is listed on the US OTC Bulletin Board (Symbol: FRXP). The company is dedicated to develop innovative, competitive and sustainable products for efficiency goods and services and to support the aSmart Green Economya. Its main focus is R&D in alternative and environmentally friendly technologies, carbon emission technologies and trading, pharmaceutical/ healthcare along with emerging markets consultancy.

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