BOHEMIA, NY -- (Marketwire) -- 07/31/12 -- Structural Enhancement Technologies Corp. (PINKSHEETS: EMWW) and its previously announced future acquisition Challenger Brands has entered into an Agreement with, and has its first order from, Quantum Oil and Gas of Nigeria (QOG) for two ocean container loads of 20W-50 Motor oil to be bottled under the Quantum Oil and Gas brand name. Quantum Oil and Gas is one of the largest importers of motor oils, gear oils and two-cycle oils in Nigeria.
QOG has provided Challenger Brands with a list of specifications for a two-cycle motor oil, which is in great demand in Nigeria. Once those easily met specifications are in place, Challenger Brands is expected to be the excusive supplier of gear oil, two-cycle engine oil, and motor oils consisting of 20W-50, 10W-40 and SAE 40 grades to Quantum Oil & Gas.
"This is obviously a very important agreement for Challenger," stated Jeff Gates the newly installed President of the company. "Not only does it bring significant sales and cash flow to the company, it validates our business model. This is a very large company that will be supplying and it will demonstrate our ability to deliver a quality product at a competitive price. Quantum Oil and Gas is the first of many international distributors that Challenger intends to supply under the Challenger Brand or under the distributors' own Brands."
In other related news the Company is currently in the final stages of negotiating the closing conditions and is ready to begin preparing the documents in its acquisition of Challenger Brands. The acquisition of Challenger Brands is expected to close in August of 2012.
Jeff Gates also commented on the closing, "We are really pleased with how quickly and smoothly this has moved along. Both sides are motivated to get this closed and get Challenger fully integrated."
About Structural Enhancement Technologies Corp.
Through its wholly owned subsidiary, Extreme Mobile Coatings, Inc., based in Nicholasville, Kentucky, Structural Enhancement Technologies Corp. operates an onsite mobile business that provides painting or coating on various surfaces utilizing specialized proprietary material. The Company also offers its anti-microbial services in other areas of the United States through various providers.
This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative variations thereof or comparable terminology. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control and actual results.
Structural Enhancement Technologies Corp.
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