LAS VEGAS--([ BUSINESS WIRE ])--Scorpex, Inc. (Pink Sheets: SRPX) (the "Company"), an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, has signed a waste supply contract with AISA, a Mexican waste transportation company with headquarters located in Tijuana, Mexico. The agreement states that AISA must provide 300 tons of hazardous and toxic waste at an average price per ton of $1,200 USD. Gross revenues from this agreement could produce up to $360,000 USD gross revenue per day and $131,400,000 USD gross revenue per year from this contact with AISA alone.
The Company reduced AISAas initial commitment of 800 tons of waste per day to 300 tons per day to allow for other suppliers to use its initial waste disposal site located near Ensenada, Mexico. The Company believes that it will be able to operate at capacity during the third quarter of 2012.
Chief Executive Officer Joseph Caywood stated, aWe are very pleased with the final version of this contract we signed today. Our management team decided to reduce AISAas waste supply commitment so that we can contract with many other international and regional suppliers that need our services. We believe that diversifying our waste supply with many providers will create a stronger business and avoid the potential of downtime in the event that waste supplies are delayed from a single provider.a
Scorpex, Inc. is taking the necessary steps to own and operate a full service waste disposal and recycling company, capable of storing and disposing all types of waste, including those classified as industrial, toxic, and hazardous. The location chosen for the first Scorpex plant is strategically positioned to accommodate the vast region of Baja California, Mexico.
For more information, visit [ www.scorpex.com ]
About AISA
AISA is an authorized waste transportation company based in Tijuana, Mexico. AISA transports waste and other freight in the northern region of Mexico for several major local and international companies.
For more information, visit [ www.aisatijuana.com ]
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions, and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.