LEXINGTON, Ky., Sept. 30 /PRNewswire/ -- Daugherty Resources, Inc.
(Nasdaq: NGASF), today said its 80% owned subsidiary, Red River Hardwoods,
Inc., was one of ten entities honored by the Kentucky Environmental Quality
Commission (EQC) for its efforts to protect and enhance Kentucky's
environment.
The EQC award commended Red River Hardwoods, Inc. for its "beneficial
reuse of scrap hardwood in the making of moulding and trim." Red River's
process utilizes random lengths of material and produces solid finger-jointed
lengths up to 16 feet long. Much of the material used in this process would
normally be discarded as waste.
Red River and its joint venture partner, Mountain Capital Corporation,
purchased the state-of-the-art fingerjointer in 1996. The fingerjointer
allows Red River to produce paint grade mouldings at competitive prices from
short pieces of wood recovered from other manufacturing steps and low grade
lumber. This process helps reduce unnecessary harvesting of higher grade
timber and results in greater utilization of marginal trees. "Red River
considers it essential to protect and properly manage the Commonwealth's
natural resources while producing its value added wood products. I consider
it money well spent." said William S. Daugherty, Chairman. "The Company is
pleased to operate in an environmentally sensitive manner while experiencing
increased sales by providing finger-jointed product to other companies who do
not have our capabilities."
Red River is strategically situated on 80 acres in Powell County,
Kentucky. The Company employs 55 people in its 45,000 square foot facility
that is located on a major four lane highway. Kentucky has 12 million acres
of timberland and ranks second nationally in hardwood lumber production. The
Company specializes in wood products manufactured from Yellow Poplar, a
species that is becoming recognized as a superior substitute for Western Pine.
Daugherty Resources, Inc., based in Lexington, KY, is a natural resources
development company with interests in oil and gas development, wood products
manufacturing and gold mining prospects.
The information in this release includes certain forward-looking
statements that are based on assumptions that in the future may prove not to
have been accurate. Those statements, and Daugherty Resources and its
subsidiaries are subject to a number of risks, including production variances
from expectations, volatility of product prices, the capital expenditures
required to fund its operations, environmental risks, competition, government
regulation, and the ability of the company to implement its business strategy.
These and other risks are described in the company's documents and reports
that are available from the company and the United States Securities and
Exchange Commission.
SOURCE Daugherty Resources, Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/115373.html or fax,
800-758-5804, ext. 115373
CONTACT:
William S. Daugherty, President, Daugherty
Resources, Inc., 606-263-3948 or FAX: 606-263-4228
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