• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Magnum Enters Negotiations to Acquire U.S. Tire Landfill Operator

Posted on: Monday, 13 April 2009, 07:30 CDT

FORT LAUDERDALE, Fla., April 13 /PRNewswire-FirstCall/ -- Magnum D'Or Resources, Inc. (OTC Bulletin Board: MDOR) announces today that it has been in recent negotiations to acquire a tire landfill in the United States.

Joseph Glusic, President and CEO of Magnum stated, "We are pleased to inform our shareholders and investors that we have taken yet another major step forward in becoming a lead player in the recycling and rubber supply industry. It is somewhat premature to release the full details of our negotiations, but let's just say we have resolved the most significant points of contention between the parties. We anticipate conclusion of our negotiations in short order followed by a Letter of Intent to consummate the deal based on these negotiated terms."

Glusic went on to say, "With the addition of a landfill, this ensures a secure and stable supply of raw material to our operations for a period of at least ten years if not more. This gives us considerable control over our supply costs and the flow of operations that will result in cost saving from both the logistics and economies of scale."

This new development coupled with the recent Phase II Magnum/SRI compound trials gives Magnum the necessary assets and components to take wastes from a cradle to grave scenario. Initial plans envision a facility on the land fill site to process, test, and produce various products right from the source. This will also ensure adequate long term supply to our Canadian facility in an economic fashion.

About MDOR: Magnum/SRI are currently using their advanced technologies to produce next generation rubber recycling solutions for custom compounds, retread compounds, processing aids, advanced state-of-the-art equipment, and reactivated ambient/cryogenic rubber powders for the global market. View recent video of Mangum/SRI Next Generation Custom Compound positive trials at http://magnumresources.net/view-investors.php?id=180

Magnum's 98,000+ sq ft facility is located at 2035 Rene-Patenaude, Magog (Quebec), J1X 7J2. Magnum currently holds over $130 Million USD in open contracts with NSS, LLC over the next five years for the production of rubber nuggets and rubber buffings (mulch).

View more about MDOR click www.magnumresources.net. To see videos of production and detailed photos of our facility go to: http://www.magnumresources.net/investors.php

To view an array of next generation cost-saving custom compounds, process technology, and summary information regarding SRI (Sehkar Research Innovations Sdn Bhd) visit: http://www.srielastomers.com/

Safe Harbor Statement under the Private Securities Litigation Reform Act Of 1995

Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The company is not required to update its forward-looking statements.

Contact: Magnum D'Or Resources, Inc., Fort Lauderdale Investor relations: 305-420-6563 mdor@magnumresources.net

SOURCE Magnum D'Or Resources, Inc.

Source: PR Newswire

More News in this Category