Published: September 14, 2005
The Beard Company Announces Opening of Initial Fertilizer Manufacturing Plant in China
The Beard Company (OTC BB: BRCO) today
announced that the grand opening of its initial fertilizer manufacturing
facility in the People's Republic of China was held on September 8, 2005.
More than 80 attendees were present at the opening ceremony, including
several government officials from Xianghe County, Hebei Province, and the
surrounding area. Also in attendance were W. M. Beard, Chairman of The
Beard Company, Riza Murteza, Chairman of Beard Environmental Engineering,
L.L.C. ("BEE"), other management members and employees, and prospective
distributors. Yin Zhigang, Secretary of the County Committee of Xianghe
County, opened the ceremony and congratulated the Company on opening its
first plant.
BEE has formed a limited liability company, BEE/7HBF, LLC ("BEE/7HBF"), a
50%-owned subsidiary which is expected to own all of our fertilizer
operations in China. BEE/7HBF has formed Xianghe BH Fertilizer Co., Ltd.,
a wholly owned foreign enterprise that will serve as the marketing arm for
the fertilizer we produce in China.
The new plant is located approximately 37 miles southeast of Beijing. It
produces a revolutionary new, environmentally friendly, Organic Chemical
Compound Fertilizer ("OCCF"). The new fertilizer uses up to 62% less
chemicals, yet provides superior performance compared to chemical
fertilizers presently used in China. The plant is expected to produce
about 550 metric tons of OCCF this month, and gradually ramp up production
until it reaches its targeted production of 2,667 metric tons in December
of 2005. Upon reaching full production, the initial plant is targeted to
produce 32,000 metric tons per year.
Herb Mee, Jr., President of the Company, stated: "We have looked forward to
this day since announcing the financing of the facility seven months ago.
The opening of this plant represents a significant step forward for the
Company as we continue our efforts to achieve a major turnaround in our
financial and operating results."
The Beard Company's common stock is traded on the OTC Bulletin Board under
the symbol: BRCO. Its operations consist principally of coal reclamation
activities, carbon dioxide (CO2) gas production, the construction of
fertilizer plants in China, and its e-commerce activities aimed at
developing business opportunities to leverage starpay(TM)'s intellectual
property portfolio of Internet payment methods and security technologies.
Statements regarding future profitability and operations, including the
timing of those activities, are "forward looking statements" within the
meaning of the Private Securities Litigation Reform Act. The statements
involve risks that could significantly impact The Beard Company. These
risks include, but are not limited to, adverse general economic conditions,
unexpected costs or delays or other unexpected events, as well as other
risks discussed in detail in our filings with the Securities and Exchange
Commission. We assume no duty to update or revise our forward-looking
statements based on changes in internal estimates or otherwise.
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