Magnum Completes Acquisition of Hudson, Colorado Facility, One of the World's Largest Tire Landfills, and Perhaps Currently the Largest in the USA
HUDSON, Colo., Aug. 29 /PRNewswire-FirstCall/ -- Magnum D'Or Resources, Inc. (OTC Bulletin Board: MDOR - News), a next generation rubber recycling solutions company, announces that the Hudson, Colorado Tire Landfill is now 100% owned by MDOR and will be operated by Magnum Recycling USA. The closing took place on August 25, 2009 at which time Magnum took ownership of all Assets associated with the facility. Colorado is home to 1/3 of all whole waste tires in the USA, consequently Magnum now owns 100% of one of the worlds largest tire landfills, and perhaps currently the largest in the USA. Satellite image of the new site can be viewed at: http://i372.photobucket.com/albums/oo167/magnumrecyclage/Hudson%20Tires/MDOR-PIC.png
Magnum's President and CEO Joseph Glusic stated, "This is a great day for Magnum and the State of Colorado. We plan on making this site a state of the art facility that should be a model for the rest of the country, if not the world, to demonstrate the ability to recycle waste products into useful and viable products that actually enhance people's lives. I am extremely excited about this acquisition which now guarantees the raw supply needs for our company for the foreseeable future. This is only the tip of the iceberg of things to come. Magnum is positioned to be a World Leader Rubber Recycler having next generation rubber recycling solutions for custom compounds, retread compounds, processing aids, advanced state-of-the-art equipment, and reactivated ambient/cryogenic rubber powders for the global market."
Magnum's new Hudson, Colorado facility is approximately 50 miles northeast of Denver, Colorado. The facility consists of 120 high grade commercially zoned land, buildings, equipment, and inventory in excess of 30,000,000+ tires (some officials state there are 3 times this amount). The facility is one of the largest tire landfills in the world and is situated close to major infrastructure and rail. Its central location is extremely well situated to accept and supply all of Magnum's current and future facility operations.
The Company has acquired all the following listed assets free and clear of all liens, liabilities, claims and interest other than certain permitted liens and assumed liabilities:
(a) all inventory, supplies, and raw materials;
(b) all equipment, machinery, vehicles, trailers, furniture, fixtures, computer equipment, spare parts, and tools;
(c) its land;
(d) all goodwill and other intangible assets associated with the business;
(e) all of the rights, titles and interest under the leases
(f) all of the rights, title and interest under the contracts
(g) to the extent assignable, all permits (including all approvals, authorizations, licenses, orders, registrations, certificates, variances, exemptions and other similar permits or rights), obtained from any governmental body, all pending applications therefore, and all reclamation bonds or financial assurances posted on account thereof;
(h) any rights under or pursuant to all warranties, representations and guarantees including those made by suppliers, manufacturers and contractors to the extent relating to products sold, or services provided, to the extent affecting any acquired assets, other than any warranties, representations and guarantees to the extent pertaining to any excluded assets;
(i) all rights or causes of action arising out of occurrence that take place after the Closing, and related to the acquired assets, and all rights to insurance and condemnation proceeds relating to the damage, destruction, taking or other impairment of the acquired assets which damage, destruction, taking or other impairment occurs after the date of the Agreement and on or prior to the closing; provided, however, all avoidance actions shall constitute excluded assets; and
(j) all books, records, ledgers, files, documents (including originally executed copies of written contracts), customer and supplier lists, correspondence, memoranda, forms, lists, documents relating to the intellectual property, advertising and promotional materials, studies, reports, sales and purchase correspondence, photographs, quality control records and procedures, equipment maintenance records, manuals and warranty information, research and development files, in each case, whether in hard copy or magnetic format and in each instance.
The real property being acquired is comprised of four parcels of approximately 120 acres located at 12311 WCR 41, Hudson, Colorado 80642, which is approximately 50 miles northeast of Denver. Physical assets being acquired include the specific items listed below:
Hudson Real Property: (120 acres in four (4) Parcels) in Weld County, Colorado:
Parcel 1: The N/2 of the S/2 of the E/2 of Section 32, T3N, R65W of the 6th P.M. in Weld County, Colorado comprising of approximately 40 acres.
Parcel 2: The S/2 of the S/2 of the E/2 of Section 32, T3N, T65W of the 6th P.M. in Weld County, Colorado comprising of approximately 40 acres.
Parcel 3: Lot B of Recorded Exemption No. 1213-32-4-RE1367 Recorded September 12, 1991 in Book 1311 as Reception No. 2263003 being part of the S/2 of N/2 SE/4 of Section 32, T3N, R65W of the 6th P.M. in Weld County, Colorado comprising of approximately 5 acres.
Parcel 4: Lot A of Recorded Exemption No. 1213-32-4-RE1367 Recorded September 12, 1991 in Book 1311 as Reception No. 2263003 being part of the S/2 of N/2 of SE/4 of Section 32, T3N, R65W of the 6th P.M. in Weld County, Colorado comprising of approximately 35 acres.
Hudson Scrap Tire Inventory:
The scrap tire inventory stored in approximately 63 open cells consists of approximately 350,000+ tons of passenger, semi-truck and off-the-road (OTR) tires that have been disposed of over the past 25+ years. The 120 acre property is currently approximately 65% covered with open cells of scrap tires.
1-125' X 125' Coverall-Steel Frame Warehouse Building & Gas/Electric
1-45' X 100' Steel Office/Shop Building & Gas/Electric Utility
1-20' X 40' 2-Car Steel Parking Garage & Electric Utility Service
Hudson Personal Property:
1-Continental Mobile Home 1-Homilite Mobile Home
1-Set of Commercial Truck Scales 1-2005 Dodge 2500 4x4 PU
1-2000 International 4700 Box Van 1-2000 International 4700 Box Van
1-1999 GMC Box Van 1-1998 Freightliner Truck
1-1998 Freightliner Truck 1-1994 John Deere 644C Front End
1-Fiat-Allis 845C Front End 1-John Deere 4020 Tractor
Loader w/Brush Hog
1-Galion Road Grader 1-Hotsy Steam Cleaner
1- 5 HP Air Compressor 1-Gas Powered Wheel Crusher
1- 300 Amp Lincoln Arc Welder 1- Gas Powered Wheel De-Rimmer
Various Shop tools and supplies
About: Magnum's proprietary "GREEN" technology provides a unique solution to all of the challenges in the disposal of stockpiles of scrap tires and rubber scrap. Magnum's 98,000+ sq. ft. facility is located in Magog (Quebec). Magnum currently holds over $130 Million USD in open contracts for the production of rubber nuggets and rubber buffing. Some of Magnum's Production: http://www.youtube.com/watch?v=G3rMYiI3wUo
Magnum/SRI are currently using their advanced technologies to produce next generation rubber recycling solutions for custom compounds, retread compounds, processing aids, advanced state-of-the-art equipment, and reactivated ambient/cryogenic rubber powders for the global market. Magnum/SRI tests are targeting premium applications that contain high grade properties. This will allow production of higher yielding compounds which will potentially create higher revenues and profits. This also includes maximizing cost savings for clients while producing high quality materials.
The reason why Magnum/SRI premium compounds are one of a kind is because they can be substituted in high specification compound applications without appreciable loss in properties or performance. Furthermore, the reason why our clients will prefer to use Magnum/SRI compounds is because they will be able to enjoy a substantial and meaningful reduction in raw material cost without compromising product performance and quality. In the competitive environment of rubber product manufacturing this is a major development having a direct impact on our customer's bottom line.
To visit SRI, view: http://www.srielastomers.com/
View Mangum/SRI Next Generation Custom Compound positive trials: http://magnumresources.net/view-investors.php?id=180 or http://www.magnumresources.net/view-investors.php?id=199
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. The company is not required to update its forward-looking statements.