Magnum USA Reduces Disposed Inventory at Hudson Facility Ahead of Schedule and Meets With SRI
December 28, 2009HUDSON, Colo., Dec. 28 /PRNewswire-FirstCall/ — Magnum D’Or Resources, Inc. (”Magnum”) (OTC Bulletin Board: MDOR), is pleased to announce that it has completed a major milestone at its Hudson facility by removing and processing an entire disposal pit of scrap tires. The reduction of tire volume at the facility has never been accomplished during the entire history of the site prior to Magnum’s acquisition this last August. This accomplishment is keeping with Magnum’s goal of completely utilizing the entire stock of some 35,000,000+ previously disposed tires currently located at the site within the Colorado Legislative order of 10 years. Furthermore, it may be noted that the pace at which Magnum is currently removing and processing the current stockpiled inventory is three times faster than the ten year order and twice the pace outlined by Magnum’s own business model.
“This is tremendous news and a testament to the commitment Magnum has made to State Legislators and the numerous Colorado regulatory and oversight agencies. This is truly a major accomplishment and one that the State and local officials can be proud of due to their support and faith in our Company,” stated Joseph Glusic, President & CEO of Magnum.
Colorado State Representative Marsha Looper, who has been a long time advocate for the clean-up and disposal of waste tires across the state, indicated in recent correspondence that,”… this is good news and a step in the right direction ….” as Magnum continues forward with its business plans.
Because of the significance of this recent milestone accomplishment, Bryan Brammer, COO of Magnum USA was interviewed by Denver’s Channel 9 TV http://www.9news.com/rss/article.aspx?storyid=129608
Brammer stated, “Seeing the first empty pit really drives home what we are striving to do with this property. When I started with Magnum, this property was disorganized and out of compliance. Now we are cleaning out whole entire pits of discarded tires and producing usable products and feed stock for our own processing needs.”
Furthermore, Magnum USA recently hosted a site tour and meeting with its Malaysian partner, SRI, to discuss design and implementation criteria regarding installation of SRI next generation rubber recycling machines, as well as, discussing production plans for the Hudson Facility. Several hours were spent going over the site planning and development process and how the Magnum/SRI compound production equipment will be integrated into the site production process as installation moves forward.
Brammer also went on to say, “It was great to meet and talk with part of the SRI team that will install and eventually reactivate the powders we will be producing at this facility.”
About MDOR: Magnum’s positioned to become a global leader in rubber recycling solutions by utilizing proprietary “Green” technology that provides a one-of-a-kind resolution to all of the challenges in eliminating stockpiles of rubber scrap & tires worldwide. Through its partner SRI (http://www.srielastomers.com), Magnum controls exclusive rights to a variety of Next Generation technologies & patents that could potentially revolutionize the rubber recycling industry Worldwide. Magnum/SRI are currently using these technologies to produce next generation custom compounds, retread compounds, processing aids, advanced state-of-the-art equipment, and reactivated ambient/cryogenic rubber powders for the global market. Magnum/SRI premium compounds can be substituted in high specification compound applications with no appreciable loss in properties or performance, thus adding a substantial & meaningful reduction in raw material cost for clients without compromising product performance and quality.
Magnum’s Quebec facility is 98,000+ sq. ft. and currently produces rubber buffing, nuggets, and crumb from recycled scrap tires. Company holds over $130 Million USD in open contracts.
Magnum’s Colorado facility consists of 120 acres of commercially zoned land, buildings, equipment, and inventory of roughly 30 to 40 million tires. The facility is one of the largest tire landfills in the world.
Magnum Engineering International (’MEI’): is a wholly owned subsidiary of Magnum specializing in developing turnkey recycling plants and complete environmental & economical ‘Green’ solutions.
Magnum/SRI Independent Test Results from Rubber Research Institute of Malaysia Mark Historic Event for the Rubber Industry: http://magnumresources.net/investors/565, http://magnumresources.net/news/607.
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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 results anticipated by any or all of these forward-looking statements may not occur. The company is not required to update its forward-looking statements.
Contact:
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1-954-315-3883
www.magnumresources.net
mdor@magnumresources.net
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