AGI acquired, expansion plans could mitigate materials shortage (January 13, 2006)

Hackerproof Ltd. announced it has signed a letter of intent to acquire 100 per cent of the Alcar Group (AGI).
AGI has developed a patented process and bioreactor, which would allow for the production of some raw materials for polymers at costs savings of up to 40 per cent when compared to current production methods.
With the expansion AGI has planned, the AGI production process will reach a total capacity of 120,000 tons annually of economical and environmentally friendly materials for polymers, AGI said.
AGI operates three divisions, Alcar Advanced Materials Corp., which manufactures and distributes various proprietary non-petroleum-based plastics and coating systems, Alcar Advanced Energy Systems Corp., which will manufacture and distribute high-purity non-petroleum based ethanol and diesel fuels and Alcar R&D, an advanced materials research and development center.
According to the letter of intent, Hackerproof will enter into a share exchange agreement to acquire the Alcar Group by way of a reverse merger transaction. It is expected that the company will sign a definitive share exchange agreement on or before Feb. 1, 2006.
“We are pleased to be moving forward efficiently on the merger transaction,” said Alexander Cavasin, president of AGI. “Becoming a publicly traded company will enable us to expand throughout North America rapidly and increase our corporate visibility with investors and customers,” further added Mr. Cavasin