Millenium India Acquisition Company Inc (SMCG) 0.6500 $SMCG
Millennium Investment & Acquisition Company, Inc. Completes Acquisition Of Activated Carbon Plant In Hawaii
ACCESSWIRE - Fri Jun 12, 11:06AM CDT
NEW YORK, NY / ACCESSWIRE / June 12, 2015 / On June 11, 2015, Millennium Investment & Acquisition Company Inc. ("Millennium" or "MIAC"

[OTC: SMCG] has completed the previously announced acquisition of an activated carbon plant in Kawaihae, Hawaii for approximately $1.3 million. MIAC believes this acquisition is a compelling opportunity that should generate an attractive return on investment. The acquisition price is a small fraction of the more than $44 million originally invested in the plant from 2009 to 2012. Despite commencing operations in 2011, the plant failed to achieve full commercial operations and generate profits. It ceased operating in 2012, and its owner filed for bankruptcy. MIAC intends to upgrade the plant and establish full commercial operation and profitability.