Global Technologies Group Enters LOI with MERDI to Acquire 100% Equity of MSE
May 11, 2012 (Close-Up Media via COMTEX) -- Global Technologies Group, Inc. announced execution of a Letter of Intent (L.O.I.) with the Montana Economic Revitalization and Development Institute, Inc. (MERDI) for the acquisition of 100 percent of the equity interest of MSE, Inc. and its subsidiaries MSE Technology Applications, Inc., MSE Infrastructure Services, Inc. and MSE Western Environmental Services & Technologies, Inc. (collectively referred to "MSE" or the "Companies").
According to a May 7 release, the L.O.I. is the result of a review of the terms of the acquisition with the board of MERDI regarding this purchase and have led to the execution of the L.O.I. Its lawyers and accountants are creating a timetable for the exchange of documents in order to prepare the purchase contract. The closing date that was set in the L.O.I will be on or before August 15. Global Technology Holdings, Inc. is the purchaser.
The centerpiece of this acquisition is the 52 acre Mike Mansfield Advanced Technology Center, a former Department of Energy facility which houses all of MSE, Inc. subsidiaries and includes labs, engineering, research and development departments and corporate offices, located in Butte, Mont.
"We look forward to working with Global Technologies and moving forward to return MSE to a level of national prominence," said Jim Kambich, MERDI's President. Kambich continued, "I am working closely with Northey Tretheway, Chief Operating Officer of MSE. Together, with the people at MSE and MERDI, we intend to see a successful process and transition that again places MSE in a position to grow while at the same time benefiting the Butte community."
MSE currently has multiple clearances with various agencies of the government including the Dept. of Defense, the Dept. of Energy, and individual branches of the military.
Currently, both companies have restrictive Non-Disclosure Agreements in place regarding the terms of the purchase.
Global Technologies Group is a company that is in the business of acquiring exclusive licenses and distribution and reseller contracts on proven technologies in the environmental, green and war fighter industries. Global subsidiary is Global Technology Holdings, Inc.
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