GreenParts International Discloses Operational Improvement

ATLANTA, GA / ACCESSWIRE / March 16, 2016 / GreenParts International, Inc. GNPT, a diversified recycling company released a company update disclosing bottom line improvement and information as to current industry conditions.

Asif Balagamwala, GreenParts CEO, commented, "We are all very excited about the positive impact our recent refinance package is having on our bottom line. Since closing the loan, our interest expense has been reduced nearly 70% over the same period last year and we project approximately $450k in savings for fiscal 2016. This expense reduction has also facilitated an increase in investments into our high profit margin auto parts division, as well as stepped up crucial equipment maintenance programs and various enhancements in preparation for the evolving market recovery."

Balagamwala concluded, "The first quarter has been filled with headlines detailing China's woes and the trickle affect that is felt in our industry. However, in part to the stabilization of commodity prices in our region, coupled with our debt refinancing, we've started the year on a positive note and are using the improved cash flow to maximize profitability while we continue to focus on seeking value added acquisition opportunities, such as our ongoing endeavor with the previously released URM deal. Continued increase in cash flow and a return to profitability, and improvement of shareholder value is key to our success in 2016. Lastly, we will be filing our 10k in a timely manner."

Safe Harbor Statement

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.

For more information please call:

Princeton Research, Inc
Mike King 702-650-3000

SOURCE: GreenParts International, Inc.