Mar 2 2009
VEGA PROMOTIONAL SYSTEMS, INC. (Pink Sheets: VGPR) today announced through its wholly owned subsidiary, Natural Fuels Industries, that its affiliate, Natural Fuels Industries Company, Inc of Thailand has entered into a Letter of Intent to acquire a major manufacturing facility on the port of MAP Ta PHUT in Thailand to produce alternative - green energy.
The facility includes 50 acres of land located on a deep sea port with various buildings consisting of 200,000 square feet of manufacturing and storage space. The plant is outfitted with its own electrical power substations that will provide up to 20,000KV of available electrical power to the facility. The facility also contains existing machinery for packaging, stacking and printing for labels and other items that will supplement and compliment the primary operations.
The Agreement also allows NFI the use of the deep sea port facilities and all necessary equipment for loading and off loading raw materials and finished product.
NFI will use its existing equipment to retrofit the plant to produce fuel pellets and fire logs. When completed, the plant will have the capacity to produce up to 500,000 metric tons of bio mass fuel pellets annually. The Company's plan is to have the facility running at full capacity by the third quarter of 2009.
Bill Jacobson, CEO of Natural Fuels Industries stated, "We were very fortunate to find a facility of this type in the right geographic area of the world that provides everything we need to manufacture and ship our product. The plant is also large enough that it will allow for expansion as our business grows."
Natural Fuels Industries manufactures various products including energy efficient pellet fuel made from organic waste bi-products using unique and innovative ideas combined with proven technology. The Company's current expansion includes building manufacturing plants in various international locations that will produce bio-mass products and bio-diesel products for power generation units. It is estimated that in the next five years the bio mass industry will become a $20 billion industry.