TGGI News !
Ecosafe to Acquire All Weather Insulation
FORT LAUDERDALE, FL, Mar 25, 2010 (MARKETWIRE via COMTEX) -- Trans Global Group, Inc. (PINKSHEETS: TGGI) and its wholly owned subsidiary Ecosafe Insulation of FL, ("ECOFL") have signed a Letter of Intent to acquire All Weather Insulation, Inc. ("AWI").
AWI is in the business of building spray and injection foam rigs and trailers for the spray and injection foam insulation industry, equipment ranging from $15,000 to over $60,000.
With revenues of $1 million AWI has been in the industry for 2 years since January of 2008 and has grown rapidly in building quality equipment, providing expert advice and training to their clients, as well as selling and distributing environmentally desirable "Green Foam" products. TGGI anticipates that the acquisition will give ECOFL a strong platform to build from in both equipment and product sales and distribution within its network of installers and dealer/distributors.
AWI brings industry experienced management to ECOFL along with existing and potential contracts for the U.S. military and is in ongoing discussions with the Asian market.
The Company believes all other remarks made in the release to be accurate to the best of their knowledge.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For additional information about this release please contact
Wallstreet-Review
954-617-5663
SOURCE: Trans Global Group, Inc.
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SUBJECT CODE: Energy and Utilities:Equipment
Manufacturing and Production:Machinery and Tools
Energy and Utilities:Utilities
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