SOURCE: Garb Oil & Power Corporation

September 28, 2010 10:00 ET

Garb (OTCBB: GARB) Update to Shareholders

SALT LAKE CITY, UT--(Marketwire - September 28, 2010) -  Garb Oil & Power Corporation (OTCBB: GARB) (OTCQB:  Garb updates shareholders.

Garb is introducing its newline of pre shredders for the tire recycling, Ewaste recycling and domestic waste industry. These new pre shredders use tooth shaft technology, which increases production in high throughput environments.

Garb is further introducing its new line of Secondary Shredders to complement the pre shredder machines. The new Secondary Shredders come with knife adjustment technology, which limits down time by facilitating the exchange of the knives.

Garb has actively reduced its debt by over $3,500,000 in the last 9 months by converting a large portion of its loans into Preferred Shares.

In regards to revenue growth, Garb's strategy is to build, own and manage its own plants. Revenues from this area will not begin to flow until 3 QTR 2011. However Garb is promoting its new line of machines just introduced and its new line of tire recycling and Ewaste plants that will be announced in the next few weeks. Our new pricing structure and the new technological advancements introduced in our machines, will generate interest in our products. Garb expects some small revenue before the end of this year.

Garb is actively involved in fund raising for its plants and will communicate an update to shareholders on this matter within the next 8 weeks.

Garb Oil & Power Corporation is a company dedicated to the application of ClosedCycle™ technology and NoWaste™ residue. Our plants for Rubber Recycling, E-Waste and E-Scrap Recycling, Waste to Energy and OTR processing plants are all developed with these principals in mind. Garb believes that processing waste should be economically viable and leave NoWaste™. It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle ™ principal and a world with NoWaste™.

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. The forward-looking statements 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. Garb-Oil & Power Corporation is not required to update its forward-looking statements.

Contact Information

  • CONTACT for Garb Oil & Power Corporation:
    Garb Oil & Power Corporation
    +1-801-738-1355 Office
    +1-801-738-1102 Fax
    John Rossi
    President & CEO
    Email Contact