BATH, NH, March 17, 2011 (MARKET WIRE) – MOP Environmental Solutions, Inc. (MOPN.PK), announced today the signing of a preliminary agreement, as excerpted: “for the purpose of establishing a division of MOP Environmental Solutions, Inc. in Saudi Arabia to facilitate distribution, and/or production, and/or research, and/or development, and/or manufacturing of MOP Environmental Solutions, Inc., products and environmentally sound oil spill cleanup methods and/or contaminated land and water remediation methods in the Middle Eastern region.”
As stated by MOP Environmental CEO Charles Diamond: “We have entered a 90 day period of negotiations within which to conclude the terms of a Joint Venture for MOP Environmental Solutions, Inc., to establish a working presence in Saudi Arabia. The mutually agreed upon name is MOP Environmental Solutions of Saudi Arabia (“MOPN-SA”). During the negotiation period of this joint venture, the Saudi Arabian contingent, at their request, wishes to maintain their anonymity, and will be referred to as (“Team SA.”)”
Diamond continued: “With the signing of the agreement with Team SA, our focus is on the completion of a MOP Saudi Arabia Executive Plan of Action to service all the possible applications, markets and industries throughout Saudi Arabia, Turkey, and the Middle Eastern Region. Team SA has a respected and established relationship with Saudi Aramco and is also respected in the field of oil spill response throughout Saudi Arabia, the Gulf Cooperation Council (GCC) countries, Turkey, and the entire Middle Eastern Region. Prior to the signing of an agreement with Team SA, it was under consideration to work through a large Saudi Arabian corporation for the distribution of our products throughout the Middle Eastern region. The establishing of a working presence within Saudi Arabia offers many competitive and cost advantages over the prior consideration of a presence in Saudi Arabia exclusively through a distributor.”
Diamond concluded: “We are very pleased with the progress we are making within Saudi Arabia. This agreement is an important step toward establishing a strategically important international presence within the largest oil producing region of the world.”
ABOUT MOP ENVIRONMENTAL SOLUTIONS, INC. (www.mopenvironmental.com)
MOP Environmental Solutions, Inc. (MOPN.PK) is a publicly traded company. MOP Maximum Oil Pickup™ is a "cradle-to-cradle" green product that is arguably the most effective oil spill recovery system on the market.
Brief Description of the MOP Technology:
MOP Environmental Solutions, Inc. manufactures and distributes MOP® Maximum Oil Pickup. MOP picks up and recovers oil spilled on land and/or water. This revolutionary, 100% recyclable, absorbent material, picks up to 30 times its own weight in oil, without absorbing water, restores traction on slippery surfaces, yet is as safe to the environment as a leaf falling from a tree. MOP offers the fastest, safest, lowest cost way to restore a clean, natural environment from any oil spill, indoors, outdoors, on land or water in all weather conditions, and uniquely can pay for itself from the offsetting revenues of its oil recovery option.
MOP Environmental Solutions, Inc. addresses All Oil Spill Needs in Three Multi-Billion Dollar Markets.
Direct to the Consumer – Ideal for leaks and spills from Auto, RV, Motor-Home Equipment and Used Cooking Oils.
Commercial Industrial – Every company with machinery has a need for MOP.
International Spill Response – MOP as the First Response is The Best Option for All Oil Spills on Land or Water.
MOP ENVIRONMENTAL SOLUTIONS, INC., participated in the cleanup effort of the BP Horizon Gulf Oil Spill.
Forward-looking statements in this news release are pursuant to safe harbor provisions of Section 21E of Securities Exchange Act of 1934. Investors are cautioned that statements in this release are not strictly historical statements, including without limitation, management's plans and objectives for future operations, assessment of market factors, statements regarding strategy, company plans and its strategic partners. These constitute forward-looking statements, are not guarantees of the company's future performance and are subject to risks and uncertainties, such as funding for machinery and materials, success in acquiring customers, maintaining needed government relationships, and successfully executing a business plan, which could cause the company's actual future results to differ materially from the forward-looking statements. For all such forward-looking statements, we claim the safe harbor for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. MOP Environmental Solutions, Inc. disclaims any obligation to update any forward-looking statement made herein.
SOURCE: MOP Environmental Solutions, Inc.
Wayne D. King
MOP Environmental Solutions, Inc.