Published: March 03, 2006
LoftWerks Announces Merger Initiation With Consultech: Sulja Bros. Building Supplies, LTD. to Be Primary Distributor for Post-Merger Projects
LoftWerks, Inc. (OTC: LFWK) today announced
that the first phase of its merger with Consultech Construction Management,
Inc. has been initiated. Sulja Bros. Building Supplies, LTD., the primary
distribution arm of Consultech's midwest operations has begun merger
protocols with LFWK. The move solidifies the certainty of Consultech's
imminent migration into the LFWK public vehicle. Sulja Brothers will serve
as the centralized and primary distributor of materials for all future
projects. A twenty-four year old business, Sulja Bros. has achieved
steadily increasing revenues since its inception that now average over $30M
annually. The company currently has assets totaling more than $25M. It is
projected that once Sulja Bros. settles into its new role, revenues could
top out at the $200M+ within twenty-four months. The increased inventory
alone could place the company's assets at over $125M.
LoftWerks CEO Dennis Ammerman stated that the primary reasons for selecting
Sulja Bros. for this position were its lengthy tenure in the industry, and
the company's ability to retain its large and loyal customer base at
percentages practically unheard of in industries across the board --
particularly in the construction industry where builders and
sub-contractors invariably target the lowest prices for materials.
A spokesperson for Consultech Construction Management fully condoned the
Sulja migration. Consultech has owned the business for nearly ten years
and stated that this particular appointment consolidates the three primary
aspects of the industry: materials, design and management.
This contains forward-looking information within the meaning of The Private
Securities Litigation Act of 1995. Forward-looking statements maybe
identified through the use of words such as "expects," "will,"
"anticipates," "estimates," "believes," or statements indicating certain
actions: "may," "could," "should" or "might occur." Such forward-looking
statements involve certain risks and uncertainties. The actual results may
differ materially from such forward-looking statements. The company does
not undertake to publicly update or revise Its forward-looking statements
even if experience or future changes make it clear that any projected
results (expressed or implied) will not be realized.
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