DALLAS, Texas, June 5, 2002 -- WesPac Technologies Corp. announced recently that its due diligence has been completed in order to acquire certain assets of the Indiana Biosolids (IBS).
After on-site inspection, President Terrence Tecco stated "During my visit to the plant this past week, I was extremely impressed by this proprietary process and the enormous profit potential."
The biosolids plant processes animal and human waste into beneficial organic fertilizer through a proprietary patented process. The United States Environmental Protection Agency (EPA) and the Pennsylvania Department of Environmental Protection (DEP) have approved the IBS bio-waste technology.
In addition, WesPac and IBS are negotiating a partnership with a major east coast sludge contractor on the plant located in Indiana County. Plans are available to increase productive capacity to 800 tons per day.
Given the nature of the proprietary process and the current regulatory climate pertaining to waste processing, WesPac desires to develop other processing plants within the United States under license from Crystal Point Ventures, LLC and Indiana biosolids. Each facility may generate an excess of five ($5,000,000) million dollars per year given its potential.
In addition to the processing plant, the property (413 acres) borders a 2,500-acre natural gas field owned by CNG Gas Company. WesPac intends to develop the gas reserves estimated to be 8 to 10 billion cubic feet with a dollar value of approximately $20,000,000.
WesPac Technologies Corp. (WPCT) is an energy related company based out of Dallas, Texas. WesPac's primary strategy is to acquire energy related assets and interests such as Oil & Gas properties, Fuel Cell Technology and biosolids Waste Management.
