Novagen Ingenium Inc. announces entering into an Operating Agreement for The Acquisition of Transport Assets
(Operating Agreement) with Datspares-Toyaparts Pty Ltd (Datspares).
Currently, Novagen's wholly owned subsidiary, Syndicated Transport and Trucking Pty Ltd operates transport and warehousing services to the building industry utilizing 12 vehicles, 4 warehouses and a staff of 18 trading as K Bees transport. The Operating Agreement which is scheduled to be completed on or before October 31, 2017 will see the current operations increase to 28 vehicles, 7 warehouses and a staff of 40. The Operating Agreement has also triggered ROADBEES™ Transport Pty Ltd to take the mantle of trading local and feeder services to the new Line-Haul operations.
The Operating Agreement which has a provision for commercial transition during completion has allowed Novagen's transport manager, Sonny Nugent to work from Datspares facilities with current staff. Novagen plans to capitalize on ROADBEES™ "first to building site" early morning pallet delivery service by tailoring the service into Line-Haul supply chain services that will see
the transport operations settle into a stronger market share for the delivery of building products.
"This is another milestone achievement for Novagen's transport and trucking division" said Micheal Nugent, CEO. "While our core focus is the development of the AmerYcan™ Engine in the precision engineering division, our transport and trucking division is poised to be a strong profit center".
About Novagen Ingenium Inc.
Novagen Ingenium, Inc. (OTC-Markets: NOVZ) is an industrial company which is engaged in the development and commercialization of new design geometric configuration engines, precision engineering services and industrial supply services including vehicle and labor supply to the transport industry.
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this paragraph and the risks and other factors detailed in Novagen's reports filed with the Securities and Exchange Commission. Novagen undertakes no duty to update these forward-looking statements.
Contact: Micheal Nugent