Dec 16, 2014 (ACCESSWIRE via COMTEX) -- Las Vegas, NV / ACCESSWIRE / December 16, 2014 / Recursos Montana SA announced today it has, pursuant to a news release dated November 7, 2014, initiated purchase of Tanaris Power from Enterprise Asset Management Inc, a subsidiary of Geo Finance Corp. GEFI, -27.45%According to the agreements in place, GEFI purchased Enterprise Asset Management Inc (EAM). Subsequently, EAM is in negotiations to spin out Tanaris Power - which holds contracts for evaluation and sales for GSE equipment, including the baggage care equipment contained in the previous news release by Geo Finance Corp.
The Osprey battery, part of the Tanaris Power battery brand, will be provided to United Airlines (UA) for an evaluation period of ninety (90) days. The evaluation period will not only serve as a proving ground for the technology, but will also provide enough time to properly evaluate United Airlines (UA)'s specific energy requirements, and allow enough time and opportunity to characterize the battery's operating profile for United Airlines (UA)'s needs. The battery will be built by GEFI, but marketed under the brand owned by REMO.
"With the United Airlines testing initiative, REMO is laying the ground work for a potential global game changing opportunity starting with United Airlines with future potential to expand to include all major airlines. This is a significant milestone for both the company and the environment," said Luis Rodreguez, CEO Recursos Montana SA.
The Osprey battery is intended for evaluation as part of United Airlines (UA)'s goal to retrofit it's fleet of existing Toyota Ground Support Equipment (GSE) baggage tractors, from diesel, to electric power. Tanaris Power's Lithium-Ion batteries are designed and engineered for industrial vehicle applications, delivering superior performance, maximum safety, long-term reliability and tremendous flexibility. Tanaris Power batteries are a cost effective, energy efficient solution for today's demanding mission critical industrial vehicle applications.
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Statements in this document regarding the intentions, the expected timetable for completing any transaction, benefits and synergies of any transaction, future opportunities for the company, expectations regarding the value and benefits of any transaction and any other statements about Recursos Montana SA's managements' future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. Except as required by applicable law, Recursos Montana SA, disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.
Contact:
Luis Rodreguez, CEO Recursos Montana SA
Investor Relations:
Oceanview Investor Relations
1.877.513.7873
SOURCE: Recursos Montana SA
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