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Replies to post #149281 on 10-Baggas Factory 10
09/05/13 9:43 AM
THOMASVILLE, GA--(Marketwired - May 21, 2013) - Globaltech Holdings, Inc. (PINKSHEETS: GLBH) is pleased to announce their corporate strategy to accelerate revenue growth in 2013.
Globaltech's mission is to focus on acquiring and managing Property Casualty/Life and Health insurance companies. This industry has historically been highly profitable with a strong source of residual revenue. Globaltech is currently targeting acquisition prospects from the Southeastern US in high growth, densely populated markets. These target markets consist of states such as Florida, Georgia and Alabama with an eye on the states bordering the Gulf of Mexico including Texas and eventually, California. The target states mentioned in addition to South Carolina and others, total 8 states. According to the 2012 census, these states comprise 110 million people or about 1/3rd of the entire U.S. population.
Business and personal insurance is a necessity of life. In many cases it is mandated by law as in the case of mortgages or auto loans. This mandate is to insure the banks and property owners against loss. The property/casualty, life and health insurance industry generates billions of dollars in revenues annually. Florida and Georgia will remain Globaltechs initial focus to build residual revenue growth in 2013. Globaltech's management lives and works in these densely populated markets. This allows the company to focus on increasing existing market relationships with acquisition targets and end clientele.
Ormand Hunter, CEO of Globaltech Holdings, Inc., states, "This is an exciting time for our company. We anticipate strong residual revenue growth in the second half of 2013 with continued record revenue growth in 2014. We will remain focused on acquisitions of highly profitable insurance agencies, providing quality insurance products and customer service." Mr. Hunter further stated, "Our current target clientele are as follows: business owners of all kinds including but not limited to, convenience store chains, hospitals, medical complexes, professional office complexes, apartment complexes and condo complexes in addition to home owners and small business owners. Our strategy will enable our company to build a highly visible brand in this profitable risk management sector and become synonymous with high quality service and products."
09/05/13 9:53 AM
