London -- ACI Global Corporation (previously Par Advance Technologies, Inc.) has announced it has completed the acquisition of Green Machine Investments Ltd. by issuing the balance of the total of 315,000,000 shares of common stock agreed to be issued in exchange for all of the shares in Green Machine Investments Ltd.
Green Machine Investments Ltd. specialises in rubber recycling technology; the technology allows used tyres to be processed into Micropowder(TM), which can be used in the manufacturing of tyres and other rubber products.
The company also announced that agreement has been reached with the Government of Bahrain to build a production plant in Bahrain where inexpensive natural gas is available to be utilised in the cryogenic process.
The Kingdom of Bahrain, Ministry of Industry has agreed to lease to ACI for a period of sixty years a 100 hectare site located in the Hidd Industrial Area of Bahrain. The site is adjacent to The Bahrain Petroleum Company Refinery from which the refinery has agreed to supply the natural gas feedstock on a long term basis.
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Press release from ACI Global