AWT Management Announce Aggressive Growth and Acquisition Strategy
September 07 2007 - 12:15PM
PR Newswire (US)
SOMERSET, N.J., Sept. 7 /PRNewswire-FirstCall/ -- AWT, Inc. (Pink
Sheets: AWTM), a distributor of state-of-the-art medical equipment
to the healthcare industry, announced today an aggressive revenue
growth and acquisition strategy for the next 36 months. "With the
new management team and board of directors in place, the company
felt it necessary to let its shareholders know of the future of
their investments," stated Christopher J. Neill, CEO. Continuing
his statement, "Part of our Strategy is continually researching the
market for new opportunities in acquisitions, new state-of- the-art
equipment, new joint ventures, or simply increasing sales. Bringing
these and additional areas of business together we feel will
enhance shareholder value, and for the first third of our strategy,
we have identified several acquisition targets for our focus." The
Company is presently in process of closing the first of several
planned and in-process acquisitions. "As we finish this first
acquisition and after we implement cost controls, AWT should show
an approximate 30% increase in top line revenue and a 35% increase
to the bottom line net income for this particular asset. That would
mean a net of $202,500 for the acquisition which would more than
cover the cost of it in the first year by approximately two fold",
commented Mr. Neill, CEO. Final terms are currently being
negotiated and the Company hopes to close within 30 days. "AWT's
revenue growth strategy for the healthcare industry overall is
about reducing costs while keeping the margins high. The premise of
having a core infrastructure of state-of-the-art technologies,
methodologies, or processes, is to reduce costs for the clients you
are servicing. By combining both core and associated technology and
processes your overall cost reduces, allowing you to service
clients at a lower cost to them and a higher margin to the
Company," stated Ravi Saini, Chairman of the Board. AWT expects to
add 4 more executives and up to 20 new personnel over the next 12
months of its expansion strategy. Sources at the Company have said
the addition of Mr. Donald Malter as Chief Financial Officer,
brings in his 19 years of business, the experience of not only
Finance and Publishing to the Company, but also the experience of
Venture Enterprise. Mr. Peter Murray brings 23 years of top level
sales in durable medical equipment and a outstanding reputation
within the healthcare industry in the Northeast. "These executives
are extraordinary professionals in their respective areas of
expertise," said Mr. Saini. "We are pleased to welcome their
contributions to our company with these positions," he added. The
Company believes its Strategic build-out as expressed herein will
be executed and achieved but understands delays in business and
execution of specific strategies and or contracts or negotiations
occur. This press release consists of forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Those statements include statements regarding the intent,
belief or current expectations of the Company and its management.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve a
number of risks and uncertainties, and actual results could differ
materially from those indicated by such forward looking statements.
The Company assumes no obligation to update the information
contained in this press release, whether as a result of new
information, future events or otherwise. DATASOURCE: AWT, Inc.
CONTACT: Christopher J. Neill of AWT, Inc., +1-732-246-2330 Web
site: http://www.awtmid.com/
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