MONTREAL, May 8, 2007 (PRIME NEWSWIRE) -- Beluga Composites Corporation (Pink Sheets:BGCC) is pleased to announce that its subsidiary, Beluga Tanks India PVT Ltd, has received the approval by the Petroleum and Explosives Safety Organisation (PESO) of the Government of India to supply its fibreglass underground storage tanks for petroleum retail outlets. "The approval of PESO is a very important step in the Company's operations in India as it is a necessary requirement for the installation of petroleum storage tanks through out the country," stated Mr. Dean Panofsky, the CEO of Beluga Composites Corporation.
About Beluga Composites Corporation
Beluga Composites Corporation (www.belugacorporation.com) is a manufacturer of fibreglass reinforced plastic (FRP) underground storage tanks (UST) for petroleum products, related accessories and oil/water separators. Its wholly owned subsidiary, Panox Petroleum Products, is a member of the Petroleum Equipment Institute and has developed and owns the manufacturing technology which has been granted the Underwriters Laboratories UL 1316 and ULC-615-S certifications for these environmentally safe tanks as well as the PESO certification from India.
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Forward-Looking Statements
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional Indian gaming and other projects. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.