BIH Corporation (fka BIHC)

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Tourism, Transportation & Travel : BIH Corporation Closes Acquisition of Baron International, a Major Restaurant Contractor & Equipment Supplier
on 2008/4/21 23:00:00 (68 reads)
(SkyNewswire.com)--FT. MYERS, FL--BIH Corporation (PINKSHEETS: BIHC) just announced that after tedious negotiations it has just agreed to expend several million dollars to complete its acquisition of Baron International Inc.

Baron International, based in West Orange, New Jersey, established in 1982 is a nationally recognized leader in the sales, service and design/build of restaurants, beverage systems, refrigeration and full turn key operations for major nationally recognized chains/clients as well as the independent client.



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Mr. Robert Ingala Founder, President & CEO will remain with the company in his current position. Mr. Ingala stated that he is very excited about the prospects of the acquisition based upon BIH Corporation's resources and our nationally known client base and experience/longevity in the industry. "This acquisition will create a tremendous opportunity for phenomenal growth," Mr. Ingala stated.

This is the first of many acquisitions slated for BIH Corporation in 2008. The company currently is involved in several ongoing negotiations for further acquisitions this year.

"We are pleased that Baron International is now a 100% wholly owned subsidiary of BIH Corporation, and we will maintain this pace with any other acquisitions going forward," said Cris Galo, President & CEO of BIH Corporation.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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