Las Vegas, NV (PRWEB) January 15, 2014
Steven Garber, CFO of Phoenix Industries LLC (PI) announced today that it has completed the formation of a new subsidiary to market and sell its PelletPATCH™ and PelletRAP™ products for use in the repair and maintenance of asphalt surfaces. PelletPATCH Distributors LLC (PPD) located in Dumont NJ is owned by Phoenix Industries LLC (50%) and a new investor group to enhance the marketing of Phoenix’ patented products for use by Departments of Public Works and private contractors to produce “Hot Mix Asphalt On Demand” in the smaller quantities needed by these parties to make year round asphalt repairs. The new investor group acquired an interest in PPD from PI and will also be providing the working capital needed for PPD to develop a world class sales and marketing effort.
Garber said, “This new arrangement will allow the market for PelletPATCH and PelletRAP to be developed into a mature standalone business. The pellets will be sourced through PI under an exclusive licensing agreement. This arrangement will allow PI to take advantage of the growth opportunities presented by PelletPATCH and PelletRAP and enable PI to devote its resources to develop its other recycling solution businesses. The development of the market and the sales of PelletPAVE™, PI’s pellet solution for larger scale polymer and rubber asphalt projects will remain under the direct domain of PI.”
PelletPATCH Distributors has hired Roland Bandelier to be its new CEO. Mr. Bandelier brings over 40 years of business and banking experience to assist PPD to grow its unique business opportunities. Mr. Bandelier said “I have worked in banking for the past 40 years and have seen many successful start-up opportunities. PelletPATCH has a unique opportunity to take advantage of a new product to provide the ability for municipalities around the globe to be able to make hot mix asphalt repairs whenever and wherever. We intend to build brand value by initially developing a market for our products in several keys states in 2014 and grow it from there. Our opportunity is very significant and we intend on capturing it in a steady and even manner. I am very excited to meet the challenges this opportunity presents.”
PelletPAVE, PelletPATCH and PelletRAP are licensed trademarks of Phoenix Industries LLC.