SOURCE: Greenstone Holdings, Inc.

February 05, 2007 11:21 ET

Greenstone Holdings, Inc. Signs Memorandum of Understanding With ECORail Products Inc.

NEW YORK, NY -- (MARKET WIRE) -- February 5, 2007 -- Greenstone Holdings, Inc. (PINKSHEETS: GSHG) announced today that the Company recently signed a memorandum of understanding ("MOU") with the owner of ECORail Products Inc. ("ECORail") in Walled Lake, Michigan ("ECORail" website The Company has agreed to supply its proprietary chemical and technical expertise on an exclusive basis to ECORail to be used in the production and treating of environmentally safe wooden railroad crossties and bridge members. Sal Miwa, Chief Operating Officer of the Company, stated that the North American railroad tie market is approximately one billion dollars annually. These products will be marketed under the brand name, "ECOties." ECORail will produce, market, and sell these treated products exclusively to the North American railroad industry. In addition to the purchase of chemicals, ECORail agreed to pay a royalty to the Company. The parties have agreed to a five-year term and to negotiate an option to acquire ECORail.

B. Allen Brown, Chief Executive Officer of ECORail and a 25-year railroad industry veteran, said, "We have been working with Greenstone for almost a year and believe in its technology. Environmentally safe products such as the ones offered by ECORail's are now in high demand and market timing is right for us. This special treatment process creates railroad industry products that are not only safe for the environment, but also result in a longer life for the product."

About Greenstone Holdings, Inc.

Greenstone Holdings (, through its operating subsidiaries, is in the business of providing a variety of unique chemical technologies that are primarily used in the building and construction industry. The Chemical Technology Division's first brand name product, GreenShield™, offers building materials such as plywood, drywall, and lumber protection from the environment. It also offers added fire retardancy to the material it is applied to. GreenShield covers a wide range of applications such as building material, fencing, railroad tie, and utility pole. The $25 billion water damage market is one example of many which GreenShield can be useful in.

Forward-Looking Statements:

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Michael Ferrone
    Chief Executive Officer
    Greenstone Holdings, Inc.
    Phone: (212) 835-1616