VR- St. Louis Announces Deadline to Submit Bids for Assets of Railroad Company

April 5, 2010 - PRLog -- St. Louis, MO – April 5, 2010 –  Successful completion of TieTek’s chapter 11 process requires that all bids for the assets be received by 5:00 CST on Friday, April 16, 2010, according to Robert Fowler, President of VR Mergers & Acquisitions.  

VR is the Bankruptcy Court-approved broker for TieTek, LLC and its parent companies, TieTek Technologies, Inc., and North American Technologies Group, Inc. which recently filed voluntary petitions for relief under chapter 11 of the federal Bankruptcy Code in the United States Bankruptcy Court, Eastern District of Texas.  

TieTek, LLC is based in Marshall, Texas, and has manufactured and sold more than 1,000,000 composite railroad ties – a "green" product that is made from recycled materials including plastics and rubber from discarded tires.

In 2008, the company had revenue of more than $32,000,000.

TieTek, LLC and North American Technologies Group, Inc. jointly own a complete set of patents that cover the formulas and processes for making composite railroad ties.

Some of the company’s customers have included BNSF, Chicago Transit Authority, CSX, Long Island Rail Road, Norfolk Southern and Union Pacific.

The company has sold its railroad composite ties in the United States, Australia, Bangladesh, Brazil, Canada, India, and Japan.

In 2008, the Society of Plastic Engineers awarded the company its 2008 Achievement Award for "Sustainability and Recycling for a Greener Environment."

The U.S. heavy haul and light transit rail system has more than 200,000 miles of track utilizing approximately 700 million railroad ties. Approximately 15 to 20 million ties are replaced in the U.S. each year.

About VR Mergers & Acquisitions - St. Louis
VR Mergers & Acquisitions - St. Louis is recognized as a national leader in providing transactional advisory services to companies in the rail sector. The company is dedicated to this sector and draws upon complementary experience to complete mergers and acquisitions. VR St. Louis has successfully conducted more transactions in the rail sector than any other Investment Banking, Mergers and Acquisitions or Business Brokerage firm in the U.S.

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VR Mergers & Acquisitions - St. Louis is recognized as a national leader in providing transactional advisory services to companies in the rail sector. The company is dedicated to this sector and draws upon complementary experience to complete mergers and acquisitions. VR St. Louis has successfully conducted more transactions in the rail sector than any other Investment Banking, Mergers and Acquisitions or Business Brokerage firm in the U.S.