Environmental Infrastructure Holdings CEO Renews Growth Strategy, Reaffirms 36 Million Shares Lock Up Agreement and Tower Turbin
June 14 2011 - 10:58AM
Marketwired
Environmental Infrastructure Holdings Corp (OTCBB: EIHC) today
announced that its CEO and President, Michael D. Parrish, presented
management's expectations and vision for the next 12 months and
beyond:
1. Our target revenue growth rate for the next twelve months of
50% or better is to be achieved through increased organic sales
with current customers as well as potential acquisitions.
2. We are in discussions with several potential acquisition
candidates who will provide the team with expanded offerings as
well as increased geographic presence in North America.
3. We intend to quickly complete the integration of Tower
Turbines and commercialize and continue their patent process.
4. We expect our R&D and manufacturing processes to become
ISO certified.
5. We will establish a responsive customer service organization
with training and service centers located in strategic areas
throughout the country.
6. Working with several potential new suppliers, we are moving
aggressively to expand our product offerings and develop a robust
pipeline of new products applicable to focused industries,
specifically the oil & gas, manufacturing, food & beverage,
and commercial markets which includes hospitals, schools,
government facilities, etc.
7. Longer term, we intend to have an operating rigor that
completes and integrates one acquisition per quarter on
average.
Mr. Parrish stated: "We are again gratified by and continue to
be very much optimistic about the value opportunity presented by
our acquisition of Tower Turbines Inc. As we integrate the
acquisition in to the Company's operations we foresee adding
potential additional revenue of $62 million over the next four
years."
In addition, Company management reaffirmed the insiders' 36
million share lock up representing 43% of the total outstanding
common stock shares of the Company.
Mr. Parrish stated, "For the past year, we have focused
internally on consolidating and divesting our non-profitable and
under performing assets and are now in a position to refocus and
accelerate our growth plans. With the core team we have in place,
combined with our recent acquisitions and added commitment from our
leadership via their lock up agreement, I am confident that we can
achieve our long term goals."
About Environmental Infrastructure Holdings Corp.
Environmental Infrastructure Holdings (EIHC) is the parent
company of diverse environmental manufacturing, engineering and
services companies. Currently, EIHC has one subsidiary, Equisol,
LLC, as well as investments in various joint ventures and
partnerships.
Recognized in 2008 by INC Magazine as the 7th fastest growing
private environmental services company in America, Equisol, LLC, is
a unique equipment solutions provider specializing in the water and
wastewater industry. Its team of top-rated engineers specializes in
automation equipment and services across multiple industries where
water use and automation are important.
Forward-Looking Statements
This press release contains forward-looking statements, which
represent the Company's expectations or beliefs, including, but not
limited to, statements concerning plans, acquisitions, new product
development, growth and strategies, which include, without
limitation, statements preceded or followed by or that include the
words may, will, expect, anticipate, intend, could, estimate, or
continue or the negative or other variations thereof or comparable
terminology. Any statements contained in this press release that
are not statements of historical fact may be deemed to be
forward-looking statements. These statements by their nature
involve substantial risks and uncertainties, some of which are
beyond the Company's control, and actual results. Readers should
carefully review the risk factors described in other documents the
Company files from time to time with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended December 31, 2010, Quarterly Reports on Form 10-Q,
and Current Reports on Form 8-K.
Investor Contact: EQUISOL, LLC 866-629-7646
www.equisolgroup.com
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