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IRVINE, Calif., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced today that it is aggressively gearing up for expansion through more mergers and acquisitions. The Company's acquisition team are in discussions with several potential target energy companies to acquire. The Company is taking major strategic steps for 2013 to improve its financial performance with a sharp focus on increasing net earnings.
The Company has charted a strategic course to grow faster by more mergers and acquisitions. The plans call for rapid growth in the next 1 to 3 years by the potential acquisition of 5 to 10 companies to generate greater revenues and profits, and by shifting its focus to invest in more profitable energy companies and technologies. The previous acquisitions the Company completed were designed to rapidly build revenue and market share, however, the proposed new acquisitions are strategically planned to generate strong profits for the Company.
Some companies being targeted are, oil producers, oil drilling companies, refined oil product producers, natural gas producers, gas marketers, pipeline companies, pipeline construction companies, gas storage facilities, propane producers, metallurgical and blue gem coal mines, refined oil product producers, and the acquisition of energy technology patents and licenses. Universal is seeking companies with well established marketing and distribution channels, a defensible competitive position and strong growth opportunities. This will also include companies that have a strong asset base with hard assets, property, plant, equipment, proprietary technologies, patents, and exclusive licenses.
Universal's Senior Vice President Solomon Ali states, "We feel very positive about our expansion plans for 2013, as we build on our success from 2012. Our goal is to build a billion dollar independent diversified energy company. We're working very aggressively this year at acquiring some major acquisitions, which will include producing petroleum and gas wells, and related energy companies. We intend to become a more vertically integrated company, which should give us greater control over our supplies, from the producer, through marketing, distribution, and directly to our customers. We believe, if these acquisitions are successful, they will bring greater revenues for Universal this year, produce solid earnings, increase our stock price and bring more value to our shareholders."