Business
Wanderport Corporation Signs a Letter of Intent to Acquire ReGenesis Intercontinental NYC Inc.
Wanderport Corporation Signs a Letter of Intent to Acquire ReGenesis Intercontinental NYC Inc..
About this update from Wanderport Corp
[{"type":"text","content":"\n \n \n Wanderport Corporation Signs a Letter of Intent to Acquire ReGenesis Intercontinental NYC Inc.\n \n \nWanderport Corporation Signs a Letter of Intent to Acquire ReGenesis Intercontinental NYC Inc.\n \n NEW YORK, NY--(Marketwired - Dec 10, 2013) - Wanderport Corp. (OTC Pink: WDRP) is delighted to announce the signing of a letter of intent to acquire ReGenesis Intercontinental NYC Inc. as Wanderport continues to execute its business model founded on social and ecological responsibility.\n ReGenesis Intercontinental NYC Inc. is in the business of recycling scrapped tires into secondary rubber crumb using an innovative technology from an agreement with Simpro S.p.A. -Sistemi e Macchine di Produzione (Environment Division), an Italian company located in Brandizzo (TO). The technology is capable of transforming tires into the finest quality of pure, uncontaminated rubber crumb while maintaining its elasticity. It can also be used in the production of new tires and a plethora of other new rubber and plastic products and is one of world's only tire recycling methods that does not pollute the environment. The process converts scrap tires into their three (3) main components of rubber, steel and fibre with a recovery rate of in excess of 96% and all three bi-products can be used in the manufacturing of new products. \n One of ReGenesis' competitive advantages lies in the environmentally friendly tire recycling process which can be monetized by redirecting the tires residual energy back into the electrical grid. Notwithstanding the aforementioned, the importance of Wanderport's anticipated acquisition of ReGenesis is synonymous with their expected scrap tire recycling contract in Italy which is accompanied with storage and land space, as well as, funding from an Italian regional zone in return of ridding the region of its scrap tire problem which should provide the operating capital to purchase the recycling equipment which Wanderport presumes will produce important revenues.\n In addition to procuring components necessary for performance efficiency testing of its microwave water heater at Intertek, Wanderport is currently reviewing final details and conducting the due diligence process prior to signing a definitive agreement to acquire ReGenesis on or before Friday, January 31, 2014.\n About Wanderport Corporation: \n Wanderport ...