MONTREAL, Jan. 3, 2006 (PRIMEZONE) -- Beluga Composites Corp. (Pink Sheets:BGCC), an international manufacturer of underground flammable-liquid storage tanks, today announced that its subsidiary, Beluga Tanks India Private Ltd., was just issued an approval to manufacture its UL approved tanks in India. The reference file is ML MH45107.
Dean Panofsky, Chairman, said, "We are very excited about the new extended approval by Underwriters Laboratories UL of our manufacturing process and materials for India. This approval was critical to our international expansion plans and it will permit us to begin our manufacturing operations in India."
About Beluga Composites Corporation (BGCC)
Beluga is a manufacturer of UST, related accessories and oil/water separators. Its wholly owned subsidiary, Panox Petroleum Products Inc. is a member of the Petroleum Equipment Institute and owns the technology and holds the Underwriters Laboratories UL 1316 and ULC-615-S certifications for fiber glass reinforced plastic (FRP) underground storage tanks for petroleum products. Panox is one of the only companies in the world which presently holds both the UL 1316 and the ULC-615-S.
Beluga manufactures single wall and double wall FRP UST that are of higher quality and environmentally safer than steel tanks, being 100% corrosion resistant. Moreover, Beluga's tanks are produced using cutting edge FRP UST FILAMENT WINDING technology, and as such, they are mechanically and structurally superior to FRP tanks produced by the competition which still uses the first generation FRP UST technology, commonly referred to as "SPRAY UP", which depends on a structural type of back fill during installation. Beluga's technology produces a structurally autonomous UST with fully integrated physical characteristics independent of any consideration for the type of backfill to be used. The key advantages of the Beluga manufacturing process are: efficient and computerized filament wound technology, consistent high quality controlled modularly designed products and competitive pricing.
Forward-Looking Statements
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional Indian gaming and other projects. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.
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