Gulf Coast Oil Spill Pickup Firm Turns to Bibby Financial Services
12 8월 2010 - 12:51AM
Marketwired
Bibby Financial Services said it provided a $750,000 factoring
facility for MOP Environmental Solutions, Inc.
(www.mopenvironmental.com) (PINKSHEETS: MOPN). Located in Bath,
N.H., MOP manufactures and distributes MOP Maximum Oil Pickup®, a
patented material that remediates oil spills. MOP has begun to use
the cash flow created from working with BFS to provide companies
with environmentally safe oil sorbent products to clean up the Gulf
Coast oil spill and fulfill orders both here and abroad.
"This company has had a sudden increase in business due to the
scale of the oil spill," said Bob Jaskiewicz, EVP of BFS Midwest.
"In order to keep up with the demand for its product, the company
needed the flexibility of factoring, which supports fast-growing
companies by advancing money based on accounts receivables. By
using BFS, MOP doesn't have to tap into equity or tie up business
or personal assets. We're proud to provide them with the financing
they need to mitigate the loss of animal and plant life along the
Gulf Coast."
"We are very pleased with the agreement we have entered into
with Bibby Financial. It will provide us with the capital we need
to meet the growing demand for MOP's Maximum Oil Pickup products,"
said Charles Diamond, MOP President and CEO. "Bibby Financial
Services is the ideal partner to accommodate our anticipated rapid
expansion and growth into both domestic and international
markets."
Bibby Financial Services is a worldwide market leading
specialist of business cash flow solutions to small and
medium-sized companies. With offices in 8 North American cities and
11 countries around the world, its product portfolio includes
accounts receivables finance, factoring, export finance, purchase
order finance, specialist solutions for the staffing and trucking
sectors, and it is an approved lender for the Export-Import Bank's
working capital guaranty delegated authority program. Bibby
Financial Services is a subsidiary of a 202-year-old privately held
company based in the United Kingdom. For more information on Bibby
Financial Services, visit: www.bibbyusa.com, or on Facebook at:
www.facebook.com/bibbyfinancialservices.northamerica.
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Bibby Financial Services Stacy Gaylord 630/493-3133 Email
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