Voyager Petroleum Acquires Scrap USA, LLC
CENTENNIAL, Colo., Dec. 28, 2010 (GLOBE NEWSWIRE) -- Voyager Petroleum Inc. (Pink Sheets:VYGO), an emerging leader in eco–friendly processing and oil distribution today announced the execution of a definitive agreement formalizing the acquisition of Scrap USA, LLC. The effectiveness of this acquisition is subject to satisfaction of standard terms, none of which is expected to impede effectiveness. As part of the terms of this transaction Sebastien DuFort resigned his positions with Voyager and was replaced by Vincent J. Smith, as newly appointed CEO and Director. Mr. Smith proclaimed his excitement in concluding the transaction over the Christmas holiday which saw the company's attorneys, prior and current management and various other professionals worked tirelessly to consummate the transaction.
Mr. Smith stated that "This will bring in a new year and new era of opportunity for increased shareholder value as we roll out our integrated recycling services program targeting the automotive service center industry. We have an extremely high level of confidence in our ability to execute our roll out strategy and we will continue to inform shareholders of our progress on a timely basis as we move forward."
About Voyager Petroleum Inc.Voyager is a publically traded mid market petroleum based brokerage, processing and distributor in an $11 Billion Dollar US market. The Company provides private label and wholesale eco-friendly petroleum based products to end users including small to medium sized fuel blenders and refineries, as well as automotive and manufacturing markets. Management's goal is to deliver high quality products at an affordable price to its customers. Voyager strategy has been to build shareholder value through acquisition and growth. The Company seeks target companies that may save costs and generate greater revenue from increased capital expenditures, vertical integration and wider distribution channels. About Scrap USA, LLC Scrap USA is based in the city of Reading, PA. Operating since 2007 as a scrap metal recycler servicing commercial and industrial customers throughout North America, Scrap USA has been focussed on and successful in targeting the Automotive Service Center Industry. The company currently provides specialty recycling programs to more than 4,000 automotive service center locations operated by some of the most recognizable names in that retail category. Scrap USA's contracted automotive scrap metal suppliers are listed on the NASDAQ, New York Stock Exchange and others are owned by some of the world's largest hedge funds. Having developed a solid footing in its current market of scrap metal the company is now comfortable with integrating other ancillary products such as oils and other automotive related products to its services.
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