MOP Environmental Solutions (MOPN) Announces Sale-Leaseback Agreement for Bath NH Plant
Company Reduces Manufacturing Overhead Costs while Maintaining its Green Profile.
- Boston, MA-NH (1888PressRelease) June 08, 2012 - MOP Environmental Solutions, Inc. President Wayne D. King today announced a sale-leaseback agreement that substantially reduces manufacturing overhead costs for the company.
"The sale of the MOP Manufacturing building has created an opportunity to recast our manufacturing costs and overhead," King said. "We will now purchase our electricity from the Bath hydroelectric plant at the lowest possible costs, known as "Spot Market" prices. Our leaseback on the warehouse space is also substantially less than what we were previously paying." Overall the agreement represents a savings of about 70% on manufacturing space needs and general overhead, allowing more of the sales dollars to flow to the bottom line.
King said, "We have spent a lot of time since the death of our founder Charles Diamond reorganizing the company and working to create new opportunities for the company."
"Our recent launch of a new consumer product - Maximum Oil Pickup, a 30 lb pickup box for the homeowner, hobbyist and other consumers is getting good reviews from the retail community and we anticipate several new agreements with retail chains during the third and fourth quarter." At a retail cost of only $12.99 it is about one-half the cost of the market leading clay-based alternative with 4 to 10 times the pickup capacity. "We think consumers are going to love this product," said King.
Also receiving good reviews is the company's new MOPMINI spill kit - a spill kit that weighs less than 2 lbs and fits in a space no larger than 7x7x7 with a pickup capacity of 30lbs. The kit retails for $19.99 and on all counts bests any of the competition: cost, size and pickup capacity.
"With the number of utilities, state and local agencies as well as transportation companies that are now required to have a spill kit on-board, the new MOPMINI requires about 1/10 of the space that even the smaller spill kits of our competitors require," said King. "As MOP exposes these new product lines to the interested governments, businesses and consumers, we're hopeful of additional 2013 profits and ultimately a significant increase in shareholder value resulting from our new organizational paradigm."
MOP Environmental Solutions, Inc. (MOPN) is a publicly traded company. MOP® Maximum Oil Pickup™ is a "cradle-to-cradle" green product that is the most effective oil spill recovery system on the market.
MOP® is an aggressive oleophyllic and hydrophobic (oil attracting and water repelling) sorbent made from recycled and fully biodegradable materials, manufactured using small-scale hydroelectric green energy. MOP®'s properties are such that it can effectively deal with an oil spill the size of the Exxon Valdez in a 24 hour period, but is just as effective at cleaning up the spill off a garage floor.
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