IRVINE, Calif., Feb. 23, 2010 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), announced today that several of its key executives, and its acquisition team are in direct, advanced stage talks and negotiations with high level executives of two of the companies that it intends to acquire.
During the week of February 8th, the company's acquisition team completed a trip to San Juan, Puerto Rico for direct talks and negotiations with Roberto Rodriguez, President of Roblex Aviation. They reviewed and inspected the company's operations, facilities and met with their general staff, as part of their due diligence process.
The following week of February 15th, the company's acquisition team completed a trip to Charlotte, North Carolina for direct talks and negotiations with the executives of NDR Energy Group LLC. They were also able to review and inspect the company's operations, and related documentation as part of their due diligence process. Some of the key executives present from NDR Energy were their CEO Gina Roy, Senior V.P. Rickey Hart, Chief Development Officer Leonard Graham, and Ken Harris their attorney and COO.
Ken Harris of NDR Energy Group stated, " I like the new direction that Universal Bioenergy is going in, with their new diversified business model. We at NDR Energy have talked to many companies in the past year about a possible merger or acquisition, but they were not a good fit for us. After completing our due diligence on Universal Bioenergy, we feel that this venture is a good fit for both of us and our future growth."
"We have a lot of confidence in our new business strategy, our plans for growth, and the potential acquisitions. The meetings with both companies went very well and better than expected. The NDR Energy Group executives are very professional, and are a highly skilled and a very capable group. We look forward to working closely with them. We are now moving forward towards a definitive agreement to close the transaction very soon," says Universal's Sr. V.P., Solomon Ali.
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
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.