Charys Holding Company's Subsidiaries Increase Revenues with New Contracts
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BusinessWire
1:25 p.m. 01/04/2007
ATLANTA, Jan 04, 2007 (BUSINESS WIRE) -- Charys Holding Company, Inc. ("Charys") (CHYS) announced today new achievements within three of its subsidiaries that are expected to have a significant impact on earnings.
Aeon Technologies, Inc. ("Aeon") has begun construction on a new multi-phase project with an estimated value exceeding $10 million. This project, with an industry leading international communications company, will furnish a statewide wireless system in the northeast by implementing multiple links of advanced digital microwave radio and associated antenna systems. Aeon will provide full turnkey installation, test and turn-up services for the 300 plus hop wireless backhaul solution.
Wade Clark, Aeon's President, stated, "The award of this contract demonstrates Aeon's commitment to quality, performance, and superior customer service. Our strong reputation in the microwave radio industry has been built on our experience implementing microwave backhaul systems in both the government and private sectors. Today's launch of the initial construction phase of this project also demonstrates the value of Charys' strategy to leverage across Charys subsidiaries. With this project we are able to utilize the scope and quality of Complete Tower Systems to better achieve our goals with this key customer."
Cotton USA ("Cotton") has been awarded a restoration project in Canada with an estimated value of $500,000. "Our goal has been to continue to expand our territory into new areas. This contract marks the first time that we have 'crossed the border' into Canada. We have planned and prepared for international support of our customers most critical needs, and we are now fully functional for international support. As our customer base expands our commitment to quality and responsiveness remains steadfast," noted Cotton Chairman, Pete Bell.
Ayin Tower Management Services, Inc. ("Ayin") continues to add tenants to its 30 tower portfolio, most recently preparing new License Agreements for installations on a Texas and Louisiana tower. "This will be the second tenant on both the Monroe, TX and Converse, LA towers," said Jimmy Taylor, President of Ayin. "Our strategic goal has always been to simplify the co-lo process for the tenant and increase the net revenue per tower throughout our portfolio. As an example, the timeline from application to License was less than 30 days and once installation is complete, our annual net revenue will increase by $36,600 or a combined 57.5% between the two towers."
Billy V. Ray, Jr., Chairman and CEO of Charys, commented, "These new contracts exemplify the forward momentum that we have been experiencing in the past few months. Wade and his Aeon team continue to be an industry benchmark as well as leading several teaming arrangements across Charys subsidiaries. Jimmy and his Ayin platform meet the needs of a demand driven wireless market and manage a growing portfolio of infrastructure assets. And Cotton, the newest member of our 'family' has planned and executed a chart of growth and has seamlessly integrated with C&B Services into our remediation business platform with their good reputation and history.
Each of these accomplishments shows the operational focus we have on organic growth. The integration of our subsidiaries focuses on leveraging the strong customer relationships that we have, and provides a unique service platform both domestically and internationally."
About Charys Holding Company, Inc.
Headquartered in Atlanta, Georgia, Charys Holding Company, Inc. (OTC Bulletin Board: CHYS.OB) is a publicly traded company focusing on the Integrated Infrastructure Services Market. This market segment is fundamentally focused on environmental remediation and on upgrading the underpinning, infrastructure, and back office operations of the telecommunication, cable, electric, and Internet industries serving consumers, businesses and government entities. Charys' principal strategy is to acquire, through mergers and acquisitions, companies that support this underserved segment. Charys subsidiaries include: Cotton Companies, Crochet & Borel Services, Inc., Aeon Technologies, CCI Telecom, Inc., Viasys Services, Inc., Personnel Resources of Georgia, Inc., Method IQ, Inc., Digital Communication Services, Inc., Ayin Holding Company, Inc., Complete Tower Sources, Inc., and Mitchell Site Acq. Inc.
