IRVINE, Calif., Jan. 26, 2010 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG) announced it is planning several major acquisitions as part of its new progressive business strategy. Universal is presently in high level talks with several companies in the energy and related industries to acquire them.
As indicated in a recent SEC filing, the company has executed formal Letters of Intent with at least two companies to acquire them. Based solely on the initial due diligence, management believes that if the acquisitions are completed, the projected purchase value of these acquisitions will be in the $10 to $15 million range, and the potential operating profit to be generated from these acquisitions is estimated at $2.5 to $3.6 million annually.
The acquisitions will allow Universal to sell biodiesel fuel, energy products and green technologies through these acquired companies and their existing national and regional marketing forces and distribution channels.
Universal's CEO, Dr. Richard Craven, says, "We still intend to be in the biodiesel fuel business. We're also diversifying to have multiple streams of income from several core energy service businesses that have synergies with our own. We believe this will bring in significant additional revenue and profit for the company. This will help us build a strong profitable company for the long-term benefit of our shareholders."
About The Company
Universal Bioenergy Inc. is an alternative "Green Energy" company, and intends to create and market alternative energy sources including Solar, Biofuels, Wind, Synthetic Fuels and other related energy technology products. It plans to build the company into a prominent player in alternative green energy.
For inquiries contact: Investor Relations at 888-263-2009.
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.