ATLANTA, Dec. 8, 2014 (GLOBE NEWSWIRE) -- Synergy Natural Resources has acquired a funding commitment by Pacific Western Equipment Finance (Pac West) for the launch of the PASS Box™ container aggregate delivery system. Pac West's plan for funding the leases of the PASS Box is now commencing. As the first transaction of an approved $540 million financing plan, $50 million of the funding is budgeted for 500 PASS Box™ containers, 240 Cheetah ISO trailer chassis, and 50 Peterbilt natural gas trucks that are to be used in the fracturing sand market for delivery to oil & gas drilling operations and to those customers or suppliers in that industry. This is just the first step in a venture that shall change the way that aggregate materials are delivered internationally.
Synergy Natural Resources, LLC invented and developed the revolutionary PASS Box™. A weatherproof portable aggregate supply system. Customers may transport dry bulk aggregate such as sand, cement or grain throughout the intermodal chain without having to unload the product. The ability to transfer from ship to rail to truck and stacked at the site makes the PASS Box™ a worldwide logistical solution. For more information on Synergy or the PASS Box please visit the website at synergynr.com and passboxglobal.com or find us on Twitter @synergynr.
Pacific Western Equipment Finance is a division of Pacific Western Bank, a wholly-owned subsidiary of PacWest Bancorp. PacWest is a publicly-traded bank holding company and trades on NASDAQ under the ticker symbol PACW.
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Source: Synergy Natural Resources