SOURCE: Fox Petroleum, Inc.

December 08, 2010 09:00 ET

Fox Petroleum Green Recycling Sees Uptick in Demand for Services

Plastics Recycler up Over 100% Over 2009 Numbers Sees Big Demand for PET Market

NEW YORK, NY--(Marketwire - December 8, 2010) -  Fox Petroleum Inc. (PINKSHEETS: FXPT) announced today that its Canadian subsidiary Resources Polymers Inc. will be up over 100% on its 2009 numbers. 

"We see growth continuing to expand every month for our services," said William Lieberman, President of Fox Petroleum. "With the increase in demand for recycling in the PET, styrene and HDPE and LDPE sectors we believe that 2011 is going to be an enormous year for us," he added.

Currently the plastics the company currently recycles have gone back into the recycling system and have already been sent back to remaining compounding firms and are being turned into new products including new agricultural trays for greenhouses. 

The pounds of high density polyethylene bottles recycled in the U.S. increased for the second straight year in 2009. The amount of HDPE bottles recycled increased in 2009 by 44.9 million pounds, or 4.9 percent, to 981.6 million. That followed an increase of 16.1 million pounds in 2008.

Fox Petroleum intends that its subsidiary will process up to 30 Million pounds of post industrial and post consumer scrap plastics per year with revenues approaching five million dollars per year. The company is aggressively seeking additional acquisition targets in the plastics recycling market place to increase its processing capacity and the company is currently speaking to Fortune 500 companies in the automotive and beverage industries to process plastic waste streams and fulfill circular recycling streams.

About Fox Petroleum Inc. (PINKSHEETS: FXPTwww.foxpetro.net

Fox Petroleum Inc is focused on acquiring, developing and operating plastic recycling operations throughout North America. With a focus on plastic waste compounds and the aggregating of plastic scrap products for manufactures. Fox Petroleum's goal is to become an important partner for leading recycling companies who need proficient services. The company expects its Canadian subsidiary which will become carbon neutral will process up to 30 Million pounds of post industrial and post consumer scrap plastics per year with revenues approaching Five million dollars per year at these processing levels. Fox Petroleum is aggressively seeking additional acquisition targets in the plastics recycling market place to increase its processing capacity and the company is currently speaking to Fortune 500 companies in the automotive and beverage industries to process plastic waste streams and fulfill circular recycling streams

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