SHEDIAC, March 17, 2011 -
MCW Energy Group ("MCW") is now trading on the Frankfurt Stock Exchange under the symbol MW4 (FRANKFURT: MW4). MCW's security identification number is A1C878 and its international ISIN is CA55278G1037.
The decision to be listed on the Frankfurt Stock Exchange is the logical step to continue the strong growth seen in MCW's portfolio company McWhirter Distributing Co. ("McWhirter"). McWhirter, in business since 1938, is a leading supplier of petroleum products in the Western United States. McWhirter delivers more than 70 million gallons annually and serves 150 service stations. In 2010, McWhirter posted revenues of $188.7 million and gross profits of $2.7 million.
MCW, backed by a strong position on the European exchange, plans to introduce an oil sand recovery venture, MCW Oil Sands Recovery LLC, in the coming year. "MCW's oil sands recovery technology has the potential to open vast U.S. oil sands reserves to production in a safe and efficacious manner," said Alex Blyumpkin, COO of MCW. "The technology emits minimal greenhouse gases, does not require water, and it works efficiently on a wide range of oil and sediment types."
MCW expects rapid growth of revenue and profit, both from sales of crude oil recovered from Utah oil sands under lease, and through improved competitive positioning of McWhirter's fuel distribution business.
"We believe the Oil Sands Recovery venture has great potential. There is growing interest from private and institutional investors. Access to the capital markets will help accelerate the growth of this new line of business," said David Sutton, CEO of MCW.
About MCW Energy Group
MCW Energy Group ("MCW") is a Canadian holding company with two principal portfolio companies, a fuel distributor based in Southern California, and a break-through oil sand recovery venture with operations in Utah.
MCW's oil sand recovery technology has the potential to open vast U.S. oil sand reserves to production. MCW expects rapid growth, both from sales of crude oil recovered from Utah oil sands under lease, and through improved competitive positioning in its core fuel distribution business.
For more information visit: mcwenergygroup.com
Contact Information
MCW Energy Group
334 Main St., Suite 101
Shediac, NB, E4P2E5 Canada
Tel.: 001 (800) 979-1897
FAX: 001 (866) 571-9615
Email: Email Contact
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Jorn Gleisner
Tel.: +49 (0)69 95 90 83 20
Fax: +49 (0)69 95 90 83 99
Mail: Email Contact
