Universal Bioenergy Forecast Sales of $275 Million in Natural Gas, Coal and Electric Power
Dec 6, 2012 14:35:57 (ET)
IRVINE, Calif., Dec 6, 2012 (GlobeNewswire via COMTEX) -- Universal Bioenergy Inc., (otcmarkets:UBRG), a publicly traded independent diversified energy company, announced that it is forecasting its sales to increase to over $275 million in the next twelve to eighteen months. The forecasted increase in sales is expected to come from the sales of natural gas through NDR Energy's electric utility customers, commercial and industrial division, electric power sales, new joint venture partners and sales of thermal steam coal from the Whitesburg Friday Branch Mine to the global energy markets.
The Company anticipates increasing sales of its energy products to its expanding customer base, and gaining a greater market share in all of the energy markets that it serves. Universal Bioenergy is rapidly growing at double digit rates, and achieved sales of over $71.74 million in 2011. Through NDR Energy Group, its subsidiary, it sells natural gas to 30 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
Vince M. Guest, Universal's President, says, "We feel very positive about the sales forecasts in the next 12 to 18 months. The actual sales could be much higher if we were to factor in sales from gas storage, refined energy products and sales of petroleum. We are still looking at a number of other acquisition targets that will also add substantially to our revenue. We will provide more information on these products sales and acquisitions and the relative earnings forecasts in the near future. We believe this should have a very strong impact on the Company's future growth and expansion."