National Storm Recovery Has Potential Growth with New Mulch Production Equipment and Strategic Alliance with Mulch Manufacturing Inc.
ORLANDO, Fla., Oct. 16, 2019 (GLOBE NEWSWIRE) -- National Storm Recovery, Inc. (OTC; NSRI) (National Storm), is pleased to announce the signing of an agreement to purchase certain equipment assets, including a dual line mulch bagging system, a Cheetah mulch color system, a screening plant with regrind wood hog and a radial stacking conveyor from Mulch Manufacturing, Inc. (Mulch).
- ORLANDO, Fla., Oct. 16, 2019 (GLOBE NEWSWIRE) -- National Storm Recovery, Inc. (OTC; NSRI) (National Storm), is pleased to announce the signing of an agreement to purchase certain equipment assets, including a dual line mulch bagging system, a Cheetah mulch color system, a screening plant with regrind wood hog and a radial stacking conveyor from Mulch Manufacturing, Inc. (Mulch).
- The purchase price of the equipment includes payment of National Storms stock to Mulch and cash consideration by National Storm in the form of a Promissory Note.
- The Agreement also provides for a strategic alliance agreement between National Storm and Mulch whereby National Storm will market Mulchs exclusive Softscape mulch products throughout central Florida in addition to other bulk and bagged Cypress mulch products produced by Mulch.
- Bagged colored mulch being produced, using Nature's Reflection Mulch colorants at the new National Storm facility, will be marketed by Mulch through its distribution network.