Syngas International to purchase Salmon Arm Plastics (July 18, 2006)
Vancouver-based Syngas International Corp.(SYNI) , a wholly owned subsidiary of Syngas Energy Corp. (SEC) announced...
July 18, 2006 by Canadian Plastics
Vancouver-based Syngas International Corp.(SYNI) , a wholly owned subsidiary of Syngas Energy Corp. (SEC) announced July 18 it has signed a letter of intent to buy Salmon Arm Plastics (SAPL), based in Salmon Arm B.C.
SAPL manufactures thin roll clear plastic sheets from recycled pop and water bottles. These sheets are used to make clear plastic clam shells used for packaging fruits and vegetables.
Under the agreement SYNI will purchase 100 per cent of the shares of SAPL. Upon completion of the transaction, SAPL will become a wholly owned subsidiary of SYNI.
SYNI is involved in the development and production of hydrogen-enriched alternative fuels, but in an environmentally responsible manner.
“With energy prices at high levels and the global focus moving rapidly towards addressing pollution, the need for sustainable, zero emission energy is vital,” according to a statment from SYNI. “Our technology is based on clean renewable energy. We foresee our company poised to benefit from global SYNI’s research includes investigation into cellulose-based feedstocks and biofuels, among others.