United Energy Corp (UNRG)

Description:

United Energy Corp was originally incorporated in Nevada in 1971 as Aztec Silver Mining Co. It was engaged in the manufacturing and distribution of printing equipment from 1995 through 1998. During that period, it began to develop specialty chemical products for use in the printing industry. In March 1998, it discontinued its printing equipment operations and changed its business focus to the development of specialty chemical products. In March 2007, it discontinued the sale of its Uniproof proofing paper. The Company develops and distributes environmentally friendly specialty chemical products with applications in several industries and markets. Its current line of products includes its K-Line of Chemical Products for the oil industry and related products. Its business strategy is to pursue collaborative joint working and marketing arrangements with established international oil and oil service companies. It intends to enter into these relationships to more rapidly and economically introduce its K-Line of Chemical Products to the worldwide marketplace for refinery, tank and pipeline cleaning services.Its principal products include its K-Line of Chemical Products for the oil industry and its Green Globe Chemical Products, which consist of a variety of solvents, paint strippers and cleaners. KH-30 is a mixture of modified oils, dispersants and oil-based surfactants designed to control paraffin and asphaltene deposits in oil wells. All of the raw materials necessary for the manufacture of its products are generally available from multiple sources. Although it has negotiated favorable arrangements with some of its current suppliers, (which include Pride Solvents and Chemical Co. of NJ Inc., Hy-Test Packaging Corp, and Air Products and Chemicals).Its chemical products are generally manufactured by contract blenders at a number of different locations. It compete directly or indirectly with other producers of specialty chemical products.