ALL Fuels & Energy Optimistic Ahead of Weekend's Ace Ethanol Member Vote
Posted on: Thursday, 16 August 2007, 09:18 CDT
DES MOINES, Iowa, Aug. 16 /PRNewswire-FirstCall/ -- ALL Fuels & Energy Company (BULLETIN BOARD: AFSE) announced today that it expects its proposed $102.5 million acquisition of Ace Ethanol, LLC to be approved by the members of Ace, at an August 18, 2007, special meeting. Ace Ethanol operates a 46 million (MM) gallon per year production facility in Stanley, WI, with $100 million in revenues and EBITA of over $33 million in 2006.
"We will be on hand Saturday and expect that the Ace members will, by their affirmative vote, bring us across this threshold towards acquiring Ace," said Dean Sukowatey, AFSE's President. "The affirmative Ace member vote Saturday takes us one step closer to finalizing this transaction before the end of the third quarter," added Mr. Sukowatey.
About ALL Fuels & Energy Company Visit AFSE online at: http://www.allfuelsandenergy.com/
AFSE recently acquired ALL Energy Company, a development-stage ethanol company organized to operate as an ethanol producer, focusing primarily on the production and sale of ethanol and its co-products. AFSE has adopted the business plan of ALL Energy Company. To date, AFSE has: obtained $2 million in private equity funding; purchased 150 acres on which to build its proposed ethanol production facility in Manchester, Iowa; signed a five-plant engineering and design agreement with Delta-T Corporation (Delta-T is a Virginia-based company with over twenty years of experience in the ethanol industry that management believes possesses superior expertise and superior technologies in the ethanol production space); engaged Natural Resources Group to handle water-related environmental matters relating to the proposed Manchester ethanol production facility; through the efforts of its air-related environmental consultant, Yaggy-Colby, obtained the final Air Quality Construction Permit, relating to the proposed Manchester ethanol production facility; and investigated and become involved in the potential acquisition of one or more existing ethanol production facilities, including Ace Ethanol.
Forward-Looking Statements
Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expects,""should,""believes,""anticipates" or words of similar import. Similarly, statements that describe AFSE's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the ability of AFSE to obtain needed financing, as well as the financial performance of AFSE, which could cause actual results to differ materially from those anticipated. Although AFSE believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it cannot give any assurance that such expectations will be fulfilled. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release, and AFSE does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact: ALL Fuels & Energy Company, Dean Sukowatey, President, 515-331-6509, allenergycompany@gmail.com
ALL Fuels & Energy Company
CONTACT: Dean Sukowatey, President of ALL Fuels & Energy Company,+1-515-331-6509, allenergycompany@gmail.com
Web site: http://www.allfuelsandenergy.com/
Source: PRNewswire-FirstCall
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