EPYH yeah outa nowhere RE hot
Thursday , May 19, 2005 10:00 ET
HOUSTON, May 19, 2005 (BUSINESS WIRE) --Empyrean Holdings Inc. (OTCBB:EPYH), a national real estate holding firm, initiated a $20 million joint venture between its subsidiary Tradewinds International Corp. and United Construction Group LLC, a national construction company specializing in single and multi-family homes, commercial developments, and renovations. This will allow Empyrean to develop newly acquired properties throughout the country in the most efficient, effective, and most profitable manner possible, and this union brings the firm even closer to attaining its goals for 2005.
CEO Robert L. Lee added, "The joint venture with United Construction Group will unveil profit opportunities for us that were previously unattainable without a construction arm of our operations. This is just a snapshot of what is to come in the near future of our maturing firm. We now have a powerful competitive edge in the national real estate market as we anticipate significantly reduced costs related to construction through this venture."
In keeping with its plan to aggressively pursue consistent growth, Empyrean plans to initiate several more strategic relationships over the next five months. Another affiliation with a property management company is already in development, and by vertically integrating Empyrean management has already forecasted the achievement of very profitable results this fiscal year.
Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
SOURCE: Empyrean Holdings Inc.
Pennies not a zero sum game as much as some zero game.
AI
