EPYH, NEWS:
Empyrean Holdings Inc. to Acquire Property Management Company
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BusinessWire
09:45 a.m. 05/23/2005
Empyrean Holdings Inc. (EPYH), a national real estate holding firm, announced today that it is in the final stages of purchasing Languard Property Management Inc., a property management company located in Orlando, Florida. Once completed, this addition will allow Empyrean to direct and maintain all of the ongoing property management requirements on current and future projects.
According to CEO Robert L. Lee, "The acquisition of a property management company allows us to maintain further control over our projects and provide an additional stream of income that we might otherwise give to another firm. This provides incredible flexibility as far as the types of projects we pursue and allows us to have a day-to-day contact with our investments which we believe is critical in maintaining and maximizing profitability."
It is anticipated that the property management company will provide services for multiple clients throughout Florida and will generate revenues in excess of $10 million a year by next 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.
Empyrean Holdings Inc., Houston Robert L. Lee, 713-260-7236 www.epyh.com
