Green Environmental Technologies Inc.
TSX VENTURE : GEI

Green Environmental Technologies Inc.

January 30, 2006 12:46 ET

Green Environmental Technologies Inc.: Arbor-Tech Inc. to Decommission Belleville, Ontario Facility

TORONTO, ONTARIO--(CCNMatthews - Jan. 30, 2006) - Green Environmental Technologies Inc. (TSX VENTURE:GEI) ("GEI" - Tier 2 - TSXV; "Green Environmental" or the "Company") today announced that Arbor-Tech Inc. will "decommission" its facility located in Belleville, Ontario.

Mark Appleby, President of Green Environmental Technologies Inc., said "as a result of the continued interruption of feed stock from its major supplier in Belleville, Ontario, Arbor-Tech Inc. has little choice but to face the economic realities associated with such a supply stoppage as well as other market factors, and decommission the Arbor-Tech facility in Belleville. Mr. Appleby goes on to state, "the supplier of raw material to our plant has indicated that a minimum of four months would be needed from today's date to "potentially" be back on stream, with no guarantee if the supply would return at all". "Such an interruption, with costly alternatives available to the plant, has forced us to arrive at this decision".

Arbor-Tech Inc. has obligations to secured creditors of the facility, not limited to, but including the CIBC who holds it's Business Improvement Loan. It is anticipated that the "decommissioning process" will be complete by February 28, 2006.

Mr. Appleby wishes to thank Mr. Lloyd and Mr. Coghlan for their hard work and dedication to Arbor-Tech Inc. over the past six years. We wish them well in their future endeavours.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Green Environmental Technologies Inc.
    Mr. Mark Appleby
    President
    (416) 804-0280
    (416) 368-6827 (FAX)