IRVINE, Calif., Dec. 7, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces coal, announced it has aggressive plans to fuel the company's growth and expansion at an accelerated rate to generate more sales and earnings. The Company is targeting a number of companies to acquire, to rapidly build the Company in what hopes will be a billion dollar company in the next 2 years.
The Company's acquisition team is reviewing potential target companies in the energy industry and related market sectors. These include oil and gas and producers, refined energy product producers, marketers and distributors, pipeline companies and related companies. The companies being targeted range from $10 million to $80 million in revenues with an EBITA of 10%, or $1 million to $8 million annually in earnings. The company is planning to acquire from 1 to 5 or more companies within the designated target performance range.
The Company's management has determined that it is in its best interests to grow by mergers and acquisitions. Due to the increase demands of energy for the U.S and world market, and the bullish outlook for the industry, the Company appears to be poised for even greater growth in the near and long term. Universal Bioenergy is exploiting changes in the energy market with the intent to propel the company to be one of the top independent energy companies in the United States.
Universal's President Vince M. Guest states, "We're very excited about our plans to grow and expand the Company through more strategic acquisitions. We believe we can achieve our goals through a combination of organic growth and our planned acquisitions. Our investment bankers and financial advisors are already in position to review these acquisitions for potential funding, immediately as they fit their financing criteria. Our major focus now is to pursue strategic acquisitions that have strong revenues, assets and profits to further strengthen and grow Universal. This should have a very positive impact on the price of our stock and the Company's market value."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal, propane and refined petroleum energy products. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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Safe Harbor Statement - 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.