CBI may not divulge the company name at this time, as the company is a privately owned corporation, in the process of filing to become a publicly traded company.
Henderson, NV (PRWEB) August 7, 2008
Cal-Bay International, Inc (OTC: CBAY) today announced the company has secured a three year exclusive contract for the nationwide construction & development of hybrid commercial diesel engine vehicle conversion & installation centers with a privately owned California vehicle hybridization company.
A senior spokesperson for CBI today commented, "The Principals of Cal-bay International have been in negotiations for several months for the exclusive construction rights of the nationwide installation centers for the commercial vehicle hybridization conversion centers. Due to the recent controversy with CBI, the principals were not convinced CBI was not the best place for the contract, but after much discussion and legal consultation, the principals agreed it was in the best interest of CBI, its investors, shareholders and the BOD this contract should be awarded to CBI.
Note: Due to the terms of the contract, the CA hybridization company agreement with CBI states, "CBI may not divulge the company name at this time, as the company is a privately owned corporation, in the process of filing to become a publicly traded company."
The Cal-Bay approved construction of the hybridization centers are specifically for the installation of commercial vehicle diesel engine conversion units, which the company claims documented test data shows fully loaded 18 wheel commercial vehicles returned in excess of 100% increase in MPG with no decrease in performance, using the hybridization device along with the company's fuel additive program.
The company further maintains using their conversion units and additive program, there is no violation of the manufacturer's warranty, and effectively adds a bonding solution to the instrumental moving engine components proclaiming longer engine life.
Cal-Bay is currently in negotiations with the company for the exclusive development and construction rights for the company's U.S. petroleum engine product installation & conversion centers.
For Informational Purposes: The company claims their diesel engine conversion equipment is compatible with heavy duty plant & equipment engines for construction & ancillary industries. The company is in the process of protecting their products and additives worldwide. At this time, CBI has no contracts for the construction of installation centers based upon heavy duty plant & equipment devices.
Forward Looking Safe Harbor Statement: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. The Company assumes no obligation to update any of the forward-looking statements in this release.
Source: Cal-Bay International, Inc