IRVINE, Calf., Oct. 25, 2010 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), an alternative energy company, announced today that it is has signed a definitive agreement for the acquisition of Roblex Aviation Inc., for a purchase price of $10.4 million, as part of its continuing plans for growth, and to generate new revenue streams. The Company is also planning more acquisitions and projects in the green technology industry. Formal notification of the transaction has been filed with the Securities and Exchange Commission.
Universal's President, Vince Guest states, "We're very excited about signing the agreement for the acquisition of Roblex, after seven months of intense negotiations. Roblex is a 13 year old, profitable company, and has a solid industry reputation. The acquisition of Roblex will allow us to ship green energy technology products to the Caribbean region, potentially double its size, and create more jobs. We're continuing our quest to grow a strong company, as can be seen from our sales of $13.9 million in the second quarter. We began a strategy this year to acquire new companies, extend our geographic reach, and optimize our shareholders value. We feel this should take us to a whole new level, and have a very positive impact on our company."
"This is really great news for our shareholders. This represents another major milestone for Universal's future. First we acquired NDR Energy Group in April of this year, and now we're acquiring Roblex, as part of our strategy to grow by mergers and acquisitions. We believe, but cannot guarantee, our acquisition of Roblex, with its 42 employees, coupled with our new plans for its expansion, should generate millions of dollars in additional revenue and more profit for Universal annually. After reviewing a number of strategic targets, we feel this acquisition is in the best interests of our shareholders, in terms of greater revenues, profits, assets, and increased market value of our company. We know our shareholders want a good return, and we believe this will significantly increase the value of their investment", says Universal's Sr. V.P., Solomon Ali.
About Universal Bioenergy
Universal Bioenergy Inc. is an alternative energy company, that markets natural gas and green alternative energy, and is expanding into solar, biofuels, wind, synthetic fuels and related clean energy technology products. It plans to build the company into a prominent player in alternative energy.
The Universal Bioenergy Inc. logo is available at
About Roblex Aviation
Roblex is a FAA registered, first class air cargo company, located in San Juan Puerto Rico, serving the Caribbean market. Roblex's flies out of San Juan International Airport, with primary routes to the Dominican Republic, and the U.S. and British Virgin Islands. Roblex's blue chip customers and clients include the United States Postal Service, Amerijet, and Delta Cargo, and United Parcel Service.
- There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
CONTACT: Universal Bioenergy Inc. Media Relations Nicole Singletary 888-263-2009