Cotton Companies Adds Two Major Firms to its Preferred Client Program
--------------------------------------------------------------------------------
PRNewswire
10:39 a.m. 07/26/2006
Acquisition Target of Charys Holding Company now services more than 1.2 billion square feet
ATLANTA, July 26, 2006 /PRNewswire-FirstCall via COMTEX/ -- Charys Holding Company, Inc. ("Charys") (CHYS) announced today that Cotton Companies ("Cotton"), which is under binding letter of intent with Charys, has received signed commitments from Gordmans Department Stores and Highpointe Hotel Corporation to participate in Cotton's Preferred Client Program. Cotton is a leading provider of fire and water restoration, reconstruction and remediation services. The Program provides clients with Cotton's year-round fire and water emergency services. With the addition of Gordmans' 60 store locations in 15 states and Highpoint's 12 hotels in Florida, Louisiana and Alabama, the Program now includes more than 1.2 billion square feet of property across the United States.
Cotton Companies' President and CEO, Pete Bell commented that because of its excellent reputation, work history and customer service, the company continues to add new clients on both the national and local levels. "Increasingly, customers are recognizing the benefits of setting up client service agreements before a disaster occurs. With the details of these agreements worked out ahead of time, clients such as Gordmans and Highpointe have the peace of mind of knowing that Cotton will respond immediately whenever they need our services."
Significantly, on July 10, 2006, Cotton Companies signed a binding letter of intent to be acquired by Charys Holding Company, Inc. Charys will create C&B Holding Company and fold Cotton and Charys' current restoration company, Crochet and Borel Services, Inc. ("C&B") into it. Cotton will survive as the international branding and operating entity and will be one of the largest companies of its kind in the world.
Billy Ray, Jr., Chairman and Chief Executive Officer of Charys, said, "These new service agreements illustrate the continued growth that we expected when we signed the letter of intent to acquire Cotton Companies, and we're very pleased that Cotton will soon be a part of the Charys organization. We have similar cultures and share the belief that Cotton is a perfect fit with our restoration and reconstruction subsidiary, C&B Services. Cotton customers will also benefit greatly from the complementary recovery services provided by our other subsidiaries, CCI-Telecom, Inc. ("CCI") and Viasys Services, Inc. ("Viasys") and our Integrated Infrastructure Services offered by our subsidiary Method IQ, Inc., as well as for our Ayin Holding Company, Inc. subsidiary's "build-to-suite" cell tower services."
About Cotton Companies ( www.cottoncompanies.com )
Cotton Companies is a group of disaster recovery firms specializing in fire and water restoration services ranging from initial project assessment and planning, through catastrophe management reconstruction, restoration and environmental remediation. The company's strategy is to provide the highest quality service to meet our customers' expectations and anticipate tomorrow's opportunities through creative and innovative thinking in our approach to today's issues. Successful execution of this strategy has produced a broad portfolio of successful projects, extremely satisfied clients, and a most challenging set of standards for the industry. The company employs cutting edge technology, state of the art equipment, and the latest in management/personnel techniques to carry out its national and international operations.
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
