PHOENIX, AZ / ACCESSWIRE / January 13, 2016 / A leader in sustainable glycol technologies, GlyEco, Inc. ("GlyEco" or the "Company") (OTC: GLYE), announced today that the Company has begun direct delivery of windshield washer fluids to complement its antifreeze and specialty products in the strategically important Indiana and Kentucky markets.
Executive Vice President of Sales, Todd Smith, stated, "We believe the addition of accretive products to our current antifreeze and specialty glycol products is an important step for GlyEco as we attract national retail automotive customers." Mr. Smith added, "The northern Midwest has become a region we believe will grow with the addition of certain products required to acquire and maintain retailers within our operational reach. We will make windshield washer fluids available immediately in Indiana and Kentucky, and as we push into new locations within range of our Indiana processing center, we will attract customers with these accretive product lines."
Interim Chief Executive Officer, David Ide, stated, "We remain focused on the growth of our business and adding a margin product during our current direct delivery routes is an exciting opportunity to increase same location sales. With the addition of two national retail customers in Q4, our Indiana processing center is expected to be one of the fastest growing within our footprint." Mr. Ide added, "Our national retail automotive customers are currently purchasing products from multiple vendors. We are now a single source for direct delivery and will reduce the distraction these customers experience. The test market of Indiana has already witnessed an uptick in business, direct delivery locations, and newfound profitability within Q1 2016."
GlyEco will continue to evaluate the addition of windshield washer fluids and its positive revenue and profit margins throughout its footprint, with Florida and South Carolina, the Company's processing centers with the highest 2015 revenue and customer count gains, identified for 2016 product addition. Washer fluid volumes on average are higher than antifreeze and specialty blended products and similar to those products that have an insulated margin associated.
Start a Project with GlyEco! Contact Todd Smith, Executive Vice President of Sales, at 866-960-1539 ext. 704.
GlyEco is interested in accepting hard or impossible to dispose of ethylene and polyethylene glycol waste. "We partner with companies who take seriously sustainable glycol waste streams."
About GlyEco, Inc.
GlyEco collects and recycles waste glycol streams into reusable glycol products that are sold to third party customers in the automotive and industrial end-markets in the United States. Our proprietary and patented technology allows us to recycle all five major types of waste glycol into high-quality products usable in any glycol application. We are dedicated to being the standard in the glycol industry by providing the highest-quality products, services, and technology possible to our customers.
For further information, please visit: http://www.glyeco.com.
To partner or to start a project with us, please visit: Start a Project with GlyEco!.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the words "believe," "anticipate," "expect," "intend," "estimate," and similar expressions. All statements in this document regarding the future outlook related to GlyEco, Inc. are forward-looking statements. Such statements are based on the current expectations, beliefs, estimates and projections of management and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including the risk that the future data will not be as favorable as the initial results. Additional uncertainties and risks are described in our most recent Annual Report on Form 10-K. For a more detailed discussion of factors that affect GlyEco's operations, please refer our filings with the Securities and Exchange Commission ("SEC"). Copies of these filings are available through the SEC website at http://www.sec.gov. All forward-looking statements are based upon information available to us on the date hereof, and GlyEco undertakes no obligation to update this forward-looking information.
Contact:
GlyEco, Inc.
Dwight Mamanteo
Non-Executive Chairman
[email protected]
866-960-1539 ext. 703
SOURCE: GlyEco, Inc.