SANTA FE, N.M., Feb. 8, 2010 (GLOBE NEWSWIRE) -- Natural Blue Resources, Inc. (OTCBB:NTUR) announced today the signing of three contracts by Enso Steel, Inc. for the sale of HMS1 recycled steel for an aggregate sales price of $13.4 million to customers based in China. Natural Blue Steel, LLC, a wholly owned subsidiary of Natural Blue Resources, has associated with Enso Steel, an otherwise unaffiliated company, for the purpose of pursuing opportunities in the recycled steel business, and arranged for the sale of the recycled steel under the contracts. Natural Blue Steel will continue its association with Enso Steel to seek out similar market opportunities and transactions in the future. According to Enso President Robert Hunt, the sale is the first in a series of transactions for Natural Blue Steel to become a premier provider of HMS steel products to China, the world's number one consumer of HMS recycled steel. Mr. Hunt commented, "Natural Blue Steel has located vast quantities of steel product and we are well on our way to forging long term relationships with large end users throughout Asia. We believe this business will be a rapidly growing segment for Natural Blue Steel as we expand our product offerings and our strategic relationships in the Asian market."
According to the Natural Blue Resources' Chairman and CEO Toney Anaya, "The worldwide demand for recycled steel is presenting an exciting opportunity for our company to aggressively pursue this market. Recycling is a recurring theme of Natural Blue Resources and its subsidiaries as we integrate various "green space" industries in our business growth strategy."
Anaya added, "The addition of global opportunities in the recycled steel business will be a focal point of our company. Natural Blue Steel has begun to assemble an impressive customer list and management believes Natural Blue Steel will remain active in the near term following this first shipment to our customers in China."
Natural Blue Resources, Inc. is a publicly traded company (OTCBB:NTUR). The Ecowave technology is exclusive to NTUR worldwide excluding S.Korea, where it was developed and is now in full operational use.
Forward-Looking Statements:
This release includes statements that constitute forward-looking statements. Such forward-looking statements are based on information available at the time and management's belief with respect to future events, and are subject to factors, risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Such factors, risks and uncertainties include, but are not limited to, those described by Natural Blue Resources, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any obligation or intention to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information.
SafeHarbor Statement: certain statements contained herein are forward looking. These forward-looking statements are based on our current expectations and are subject to a number of risks, uncertainties and assumptions. Many factors could cause actual results to differ significantly from these statements, including our history of operating losses, our need for additional financing, a failure of our products to perform as expected, introduction of competing products by other companies, pressures on prices from competitors and/or customers, regulatory obstacles to new product introductions, lack of acceptance of our products and technology changes. These risks, uncertainties and assumptions are detailed in documents filed by us with the Securities and Exchange Commission. The Company cautions that the foregoing list of important factors is not exclusive. Any forward-looking statements are made as of the date of the document in which they appear. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.