IRVINE, Calif., Sept. 14, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane, petroleum and coal, announced today that it is planning to hire a new Chief Financial Officer to assist the Company in its drive for growth and expansion. The Company is accelerating its efforts to build a stronger professional management team as it prepares to position itself to up-list to a major stock exchange such as NASDAQ or AMEX/Equities.
Universal Bioenergy is a high growth company, that generated over $71.74 million in revenues in 2011. Through its subsidiary, NDR Energy Group, it sells natural gas to 30 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
The Company has initiated a search, and has been reviewing potential qualified candidates for the critical position. The primary goals of the new CFO will be to provide strong financial leadership, help build a stronger financial structure for the company, improve its Balance Sheet, reduce its debt, raise additional capital, assist with mergers and acquisitions, and manage all accounting operations, financial planning, financial reporting, internal controls and preparation of its SEC Reports and Filings.Universal's Senior Vice President, Solomon Ali states, "I'm very excited about the growth of our company and our plans for rapid growth and expansion. To sustain our rapid growth and build a billion dollar company, we are in the process of building a world class management team. A new highly qualified Chief Financial Officer will provide exactly the support we need to spearhead our financial goals, to increase revenues, achieve solid profitability, assist with our planned mergers and acquisitions, help in the up-listing to major a stock exchange and increasing shareholder value."