SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: September 10, 1998
THE OHIO & SOUTHWESTERN ENERGY COMPANY
(Exact name of registrant as specified in its charter)
COLORADO 33-28188 84-1116458
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
ADDRESS:
650 W. GEORGIA STREET, #450, VANCOUVER, B.C., CANADA V6B 4N8
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(604) 684-8662
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Item 1. CHANGES IN CONTROL OF REGISTRANT
None.
Item 2. ACQUISITION OR DISPOSITION OF ASSETS
None.
Item 3. BANKRUPTCY OR RECEIVERSHIP
None.
Item 4. CHANGES IN REGISTRANTS CERTIFYING ACCOUNTANT
None.
Item 5. OTHER EVENTS
The Company has completed its acquisition of CanArab
Technology, Inc., a Yukon corporation, in consideration of issuance of 5,950,000
shares of common stock.
The Company has, as part of its acquisition, obtained the
design and business plan to build a shrimp and seafood processing plant in
Rostock, Germany. The Company has estimated that the plant will cost
approximately $40 million and will take two years to build. The Company does not
now have financing in place for the project. The Company intends to seek
economic development incentives from the German government, private loan
financings, and private equity placements in the project, in order to finance
the project.
SELECTED LOCATION
The planned facility --- the Rostock shrimp processing plant
- --- is located in the near-port industrial estate in Rostock, Germany.
The large city of Rostock with about 250,000 inhabitants is
situated approximately 250 km. in the north of Berlin and is the center of
shipbuilding, port and fish processing industries and forms an important traffic
junction in the Baltic Sea area. The selected location "port area east" in
Rostock seems to be very suitable corresponding to the following general
description. This area is very well connected with the existing traffic system.
The distance to the highway is 1 km and 10 minutes to the container port. The
location provides for smooth logistics for raw products as well as for finished
products. The suburban train system near the area will provide transportation
for plant laborers.
The designed complex of buildings is divided into a storage
area for reception and dispatch of goods, a process complex with a production
hall, a preparation line, a store, and support facilities for technical
functions as well as a staff and administration area.
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All building areas are interconnected by a common gallery with an upper floor
for centralized distribution of services. Up to 300 employees will be utilized
in the plant in two shifts.
The plant was designed for processing of all sizes of shrimp
to guarantee high flexibility in purchase of raw material.
a) RAW MATERIALS INPUT
The design of the plant is based on the production capacity of
14,750 tons per year, with raw material (shrimp) delivery by refrigerator ship
of 2,500 tons every 2 months. Storage capacity is calculated at 6,400 tons. The
reserve of 1,400 tons of frozen material guarantees continuous production input.
b) PRODUCTION - PREPARATION
The daily production will be 59 tons of shrimp.
The shrimp plant will have processing lines for:
1. cooking, reglazing, and repacking individual quick frozen
(I.Q.F.) shrimps
2. processing line for block frozen shrimps, including
cooking and glazing
3. packing line
4. breading, frying and packing line
5. dough, baking and packing line
6. aspic line including packing
7. line for mayonnaise & marinade products
The Company does not know when or if it will negotiate funding
for the project, nor does it know when construction will commence.
Item 6. RESIGNATION OF DIRECTORS AND APPOINTMENT OF NEW DIRECTORS
None.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS & EXHIBITS
a. Financial Statements - None
b. Exhibits - None
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: September 10, 1998 The Ohio & Southwestern Energy Company
By:/s/Ralph Shearing
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President
