FARMINGTON HILLS, Mich., Sept. 30, 2008 (GLOBE NEWSWIRE) -- LBO Capital Corp. (Other OTC:LBOA), a Colorado corporation ("LBO Capital"), announced signing of a Letter of Intent by its subsidiaries, Global Tech International, Inc. ("Global Tech"), a Delaware corporation, and Ecoplastifuel, Inc. ("Ecoplastifuel"), a Delaware corporation, with Sanitec Industries, Inc. ("Sanitec"), a privately owned California corporation. LBO Capital and Sanitec have initiated due diligence to prepare a Definitive Agreement and Joint Venture Agreement. The intent of the Agreements is to combine several unique technologies to bring to market an emission free solution for the ultimate disposition of sanitized healthcare waste through recycling.
A closed loop recycling system will be accomplished in two phases beginning with Global Tech licensing its proprietary technology, Powder Impression Molding(tm), ("PIM(tm)"), Encapsulation Molding Technology(tm), ("EMT(tm)"), and Molecular Metamorphosis Technology(tm), ("MMT(tm)"), (protected by patents both issued and pending), to the Joint Venture to create new useable products recycled from Sanitec's continuous flow of disinfected and processed healthcare waste. During the second phase, disinfected material will be reconstituted, using Ecoplastifuel's proprietary revolutionary Green technology, into petroleum products including gasoline, lubricants and diesel fuel, with the goal of supplying most or all of the energy requirements of the completely self-contained processing systems.
Through patented and patent pending applications of the Joint Venture's combined technologies, PIM, EMT, MMT and Green, Sanitec's reprocessed material can be safely processed into feedstock for manufacturing into useful products such as improved pipes for sewer systems or fuels for its own closed loop energy requirements, rather than being dumped into overburdened landfills.
Sanitec is an industry leader for certified green medical waste treatment and disposal and global patent holder for the Sanitec(r) Microwave Healthcare Waste Disinfection System(tm). Healthcare facilities nationwide, ranging from large hospital systems to single practitioner doctors' offices, utilize Sanitec systems to transform dangerous healthcare waste into low volume, unrecognizable, non-infectious material. Sanitec units are fully automated and approved for use in all 50 states and the District of Columbia.
Sanitec CEO James Harkess commented: "This Joint Venture will give Sanitec an outlet for its residual materials following processing of medical waste, with the potential of diverting millions of pounds of hazardous material from near-capacity landfills and noxious incinerators. Presently, Sanitec provides mobile, hospital and commercial service at 48 U.S. facilities and 18 facilities located in 7 foreign countries. Worldwide, Sanitec systems have treated over 500 million pounds of infectious waste."
Thomas W. Itin, Chairman & CEO of LBO Capital, added: "This Letter of Intent represents a significant step forward by LBO Capital among efforts to develop or acquire eco-friendly technology in the worldwide burgeoning plastic waste management sector."
LBO Capital Corp., founded in 1988, and its subsidiaries, Global Tech International, Inc. and Advanced Digital Components, Inc., strive to acquire proven and attractive intellectual property and technology, and to capitalize on them through licensing arrangements with operating companies which recognize benefits from access to carefully selected assets of LBO Capital Corp.
The statements included in this news release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1934, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings, economic downturns affecting the operations of the Company or any of its business operations, adequate financing to achieve the new strategic plans, the impact of competition, the success of products in the marketplace and the unavailability of financing to complete management's overall plans and objectives. The forward-looking statements contained in this news release involve subjects only as of the date hereof and the Company disclaims any intent or obligation to update these forward-looking statements, except as required by law.