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By: AllPennyStocks.com
More signs that the economy is improving appeared in the first week of December,
and not just the broad macro figures that the experts toss out, but the more
meaningful numbers indicating the doors are open for firms the world over to do
business and prosper.
One was opened by a South Korean construction company to Los Angeles-based
Jeantex Group (OTCBB: JNTX) to help expand the latter’s green infrastructure
business. Construction and technology company HJ Construction Materials Co.
received a letter of intent from JNTX to acquire a majority interest.
HJ’s story is a particularly interesting one, in that it developed, patented and
implemented a breakthrough eco-friendly way of manufacturing the most used
building materials in the world such as asphalt and cement, made with patented
nano-technology. The products are made from 100% renewable waste ingredients
mainly from the production of edible oils, thus making producing these materials
more economical, stronger, cleaner and resistant to the weather.
Roads in North America are in appalling shape, and one of the impediments to
fixing them up is an asphalt shortage, as U.S. refiners overhaul their equipment
to maximize output of highly profitable fuels such as diesel and gasoline.
Asphalt is three times as expensive, which is why a hookup between HJ and
Jeantex is so noteworthy. The agreement is expected to be completed in the
middle of December.
It’s quite the hop, skip and jump for Jeantex Group, previously into the
textile-apparel-clothing industry, but which has been “shedding” its role in
that industry over the last three years and looking into other fields of
endeavor to increase shareholder value. It’s been a fairly gradual process,
however, as the company has remained at least somewhat active in the apparel
business by partnering with a number of companies in Asia.
With the letter of intent, though, JNTX holds the view that the new technology
championed by HJ may qualify Jeantex for substantial financial assistance from
the Federal Department of Energy, which underwrites projects that "avoid,
reduce, or sequester air pollutants or anthropogenic emissions of greenhouse
gases". The 180-degree swing by this erstwhile clothing concern should not be
lost on investors or environmentalists. It’s a swing that has been mirrored by
the price of JNTX’s stock, which went from a gulch of four-10ths of a cent in
mid-September to a 52-week high of 32 cents by the end of that month. The news
on December 2 did not give the price a sufficient jolt from its current perch of
about 10-11 cents to take it out of the reach of bargain-wary investors, who may
just warm to Jeantex’s change of business.
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