HOUSTON, TX – 28 March 2013 – GSE Environmental, (“GSE” or the “Company”) (OTCQB: GSEH), the leading global provider of highly engineered geosynthetic containment solutions for environmental protection and confinement applications, is excited to announce that it’s newest manufacturing plant in Suzhou, China has produced it’s first prime quality roll of liner. Construction began in January 2013 with a groundbreaking ceremony attended by municipal and provincial government officials, company representatives, and GSE customers. Crews completed construction of the plant at the end of 2013, and trial production began in early January.
“I am so proud of our team in Suzhou and appreciate all the hard work that went into reaching this accomplishment,” said Jeff Nigh, Executive Vice President, Global Operations. “Now that the first prime roll has been produced, the team will keep the machine operating on a continuous 24-hour cycle for several days. This will allow them to see what issues might arise during a prolonged production schedule and determine how to address them.”
Added Peter McCourt, President, International, “Once full production is reached, this plant will add 20,000 metric tons of new capacity and will have the ability to manufacture GSE’s entire line of geomembrane products to help our customers meet the growing demand for landfill expansions, industrial waste containment, mining, coal ash containment and oil and gas fracking in the region.”
About GSE Environmental
GSE is a global manufacturer and marketer of geosynthetic lining solutions, products and services used in the containment and management of solids, liquids and gases for organizations engaged in waste management, mining, water, wastewater and aquaculture.
GSE has a long history of manufacturing quality geosynthetic lining systems and developing innovative products. The Company’s principal products are polyethylene-based geomembranes, geonets, geocomposites, geosynthetic clay liners, concrete protection liners and vertical barriers. GSE manufactures products primarily to line or cap hazardous and non-hazardous waste landfills, contain materials generated in certain mining processes, and contain water, liquid waste and industrial products in ponds, tanks, reservoirs, sewers and canals. Headquartered in Houston, Texas, USA, GSE maintains sales offices throughout the world and manufacturing facilities in the US, Chile, Germany, Thailand, China and Egypt.
To learn more about GSE Environmental, please visit www.gseworld.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements may include words such as “anticipate,” “believe,” “expect,” “intend,” “may” and other words and terms of similar meaning, including in connection with any discussion of the timing or nature of future financial performance or other events. Such forward-looking statements are subject to certain risks and uncertainties, including the outcome of the Company’s sale process, the values placed upon the Company by third parties in the sale process, whether the Company’s creditors will receive payment in full or the Company’s stockholders will receive any recovery in connection with the sale process, whether the Company is able to satisfy any conditions to funding under its secured revolving super priority credit facility, whether a trading market for the Company’s common stock will exist on the OTCQB Marketplace and other factors disclosed by the Company from time to time in its filings with the Securities and Exchange Commission, including those described under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. As a result of these factors, the Company’s actual results may differ materially from those indicated or implied by such forward-looking statements. Except as required by law, the Company disclaims any obligation to publicly update such statements.
