James River Holdings' Subsidiary, PaveCare, Inks Master Services Agreement With National Discount Retailer

Date : 06/12/2013 @ 1:30PM
Source : Marketwired
Stock : James River Holdings Corp (PN) (JRIV)
Quote : 0.015  0.0 (0.00%) @ 1:00AM

James River Holdings' Subsidiary, PaveCare, Inks Master Services Agreement With National Discount Retailer

James River Holdings Corp (PN) (USOTC:JRIV)
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James River Holdings Corporation (OTCQB: JRIV), a diversified holding company focused on acquiring high growth SMBs and building them into respected market leaders, today announced that its wholly-owned subsidiary PaveCare, Inc. recently signed a Master Services Agreement (MSA) with a national discount retailer, providing the framework for PaveCare to supply contracted commercial paving services to more than 4000 store locations operated by the retailer throughout the United States.

Currently, PaveCare is under contract to complete asphalt paving projects for this national retailer in California, Indiana, Kentucky and Washington.

"We are very pleased to have won the trust and industry validation of such a prominent customer and look forward to enhancing our relationship with them through the delivery of superior service and on-time, on-budget paving projects," stated Gerald Vigneaux, General Manager of PaveCare.

J. Barry Watts, Chairman and CEO of James River Holdings, added, "This MSA is an important step towards establishing PaveCare as the nation's preferred and trusted provider of commercial paving services to large retailers; and positions the Company well to contribute measurably to James River's consolidated revenues and earnings growth in 2013 and beyond."

About PaveCare, Inc. Established in November 2012, PaveCare provides pavement maintenance and restoration for commercial, industrial and residential customers primarily located in the Central U.S. region. Its services include asphalt milling and installation, sealcoating, concrete paving, gutters and curbs and sunken concrete lifting. PaveCare is a wholly-owned subsidiary of James River Holdings Corporation (OTCQB: JRIV) and is based in Springfield, Missouri.

About James River Holdings Corporation Headquartered in Springfield, Missouri, James River Holdings Corporation is a diversified holding company engaged in acquiring controlling interests in established companies operating high growth, entrepreneurial businesses in mature markets. Current portfolio companies include Springfield Property Management, which owns and manages 217 residential rental properties in Missouri and provides turnkey property management solutions to other commercial and residential property owners; and PaveCare, a company specializing in commercial pavement repair and parking lot maintenance services mainly to big-box retailers. For more information, please visit www.jrholdings.com.

Safe Harbor Statement This press release may contain forward-looking statements, including information about management's view of James River Holdings Corporation's (the "Company") future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by James River Holdings Corporation.

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