Washington, DC, June 26, 2013 – (Eteligis via Accesswire) -- In a change of direction for Virtual Sourcing, Inc. (OTC Pink: PGCX), the company has completed the purchase of Allied Recycling Corp, a provider of essential services to fiberglass recycling.
Allied Recycling Corp. (ARC) holds a sub-license on a patent for reconditioning fiberglass to be recycled into finished durable goods. The sub-license allows ARC to inventory, recycle and produce from all fiberglass derived from the Mid-Atlantic states. The agreement also states that ARC is the sole provider of the essential services needed by the licensor to provide properly sized recyclable material from all of the licensors current inventory regardless of where it is located on a cost plus basis.
The fiberglass industry has a monumental problem disposing of its production waste, trimmed material and outdated products or resins. Many landfills, along with state, county and municipal governments are mandating severe reductions in or totally curtailing the amount of fiberglass waste allowed. ARC together with and through its licensor are actively engaged with major manufacturers and end users in negotiating contracts for recycling their existing waste. These are indeed exciting times for this burgeoning industry where demand grows significantly every day.
We expect this business to be highly profitable in the near term and to begin operations of essential services during the early portion of the third quarter of 2013. There are several million pounds of inventoried waste in possession to be processed immediately upon delivery and setup of the required machinery.
Our first unit is expected to be a mobile facility that can travel between five major inventory sites. A second unit will also be mobile, but assigned to a Texas site where there is over a year supply of inventory on the ground ready for processing.
Please review our business plan www.virtualsourcinginc.com. Our licensor is Amour Fiber Core, Inc. a wholly-owned subsidiary of American Fiber Green Products, inc. (OTCPink:AFBG).
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
SOURCE Virtual Sourcing, Inc.
- Nature & Environment