WAKEFIELD, Mass., Feb. 11, 2011 (GLOBE NEWSWIRE) -- Natural Blue Resources, Inc. (OTCBB:NTUR) announced today that Natural Blue Steel / Atlantic, Inc. ("NBS Atlantic") has been formed under the laws of the State of Delaware as a wholly owned subsidiary. The Company board of directors elected Joe Montalto and Sal Tecce to NBS Atlantic's first board of directors and Mr. Montalto agreed to act as Chairman of the Board. The NBS Atlantic board appointed Sal Tecce to the position of President. Additional information about NBS Atlantic is available at www.naturalbluesteel.com.
For its part, NBS Atlantic announced that it has entered into two new environmental restoration/ demolition contracts totaling $2.5 million dollars. These projects involve remediation of contaminated soil and ground water as part of a major infrastructure project taking place with the transit authority in Boston, MA. In addition, Mr. Tecce announced that NBS Atlantic was negotiating another $6 million dollars in demolition and soil remediation contracts in southern Massachusetts and Rhode Island. Should NBS Atlantic receive these contracts they would bring NBS Atlantic's total expected revenue for the year to in excess of $50 million dollars. The Company's CEO, Erik Perry, said," This is a great beginning to our revenue stream and I'm thrilled that our team of Sal Tecce and Joe Montalto have secured these contracts so quickly given the rough weather we've all experienced."
About Natural Blue Resources, Inc.
Natural Blue Resources, Inc. was formed to own and operate earth-friendly businesses that utilize green technologies while conserving natural resources. The Company has four wholly-owned active subsidiaries: Eco Wave that purchased rights to technology to treat waste water and other wastes; Natural Blue Steel, Inc., and Natural Blue Steel Atlantic, a wholly-owned subsidiaries to purchase, ship and re-sell recycled steel; and a water division with a planned initiative to focus on developing drinking water projects. The Company's goal is to acquire additional companies and technologies that complement the operations of its existing subsidiaries. www.naturalblueresources.com/" target="_top" rel="nofollow">http://www.naturalblueresources.com
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.