ParaFin Corporation's Strategic Partner, Resource Development Group, Inc., Acquires Waste Management and Environmental Energy...

ParaFin Corporation

(PINKSHEETS: PFNO): (ISIN: US69912M2026), Resource Development Group, Inc., the 25% strategic partner of ParaFin, has disclosed the following to ParaFin Corporation (PINKSHEETS: PFNO): "Resource Development Group, Inc., the 25% strategic partner of ParaFin, has acquired 100% interest in SYAT Holding Ltd. which is domiciled in Turkey. SYAT Holding Ltd. holds majority stakes in numerous companies including the E25 A.S., a waste incineration plant. SYAT Holding Ltd. has implemented various projects in the areas of waste management and environmental energy in the east Anatolia region of Turkey.

One project was the acquisition and expansion of a waste disposal site that was built in 2008 by a German firm, and has been managed since then by local governments. According to current engineering plans, the disposal site will produce electricity and fertilizer when the final expansion phase has been completed. The present annual turnover amounts to USD 5 million and returns profits of between USD 1.2 and USD 1.5 million. The planned investment for the expansion of the existing plant amounts to USD 30 million. The new construction is eligible for subsidies by the European Union and the Turkish government. In addition to the long-term exemption from payroll social costs, the returns are tax-free for 9 years due to the 90% regional subventions. Initial negotiations have taken place and preliminary agreements have already been signed. The projected turnover after the expansion of the existing facility amounts to USD 30 million annually where a pre-tax profit of USD 10 million (30%) is expected. Possible tax advantages have not yet been considered. The Resource Development Group, Inc. will give a more detailed description of the projects and companies in which the FSYAT Ltd. is involved in the days ahead."

The website of Resource Development Group, Inc. is www.resource-development-group.com.

ParaFin Corporation

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