EMTA Holdings, Inc. Acquires Light Industrial Staffing Company
17 3월 2009 - 11:11PM
PR Newswire (US)
SCOTTSDALE, Ariz., March 17 /PRNewswire-FirstCall/ -- EMTA
Holdings, Inc. (OTC:EMHD) (BULLETIN BOARD: EMHD) , an energy and
fuel conservation company and maker of XenTx(TM), Synergyn(TM) and
other engine treatment and fuel efficiency products, announced
today that its newly formed wholly-owned subsidiary, Lumea, Inc.
(Lumea), has acquired substantially all of the assets of Easy
Staffing Services, Inc. (Easy) a light industrial staffing company.
According to the terms of the agreement, EMTA acquired the assets
of Easy for 15 Million shares of its common stock, the issuance of
Notes Payable of $8.75 Million and the assumption of approximately
$2.25 Million in debt. Audited financial statements for Easy will
be prepared and filed within 75 days of the closing. Easy, now
Lumea generated approximately $101 Million in revenues and EBITDA
in excess of $1 Million for the twelve months ended December 31,
2008. Lumea currently has an operating staff of 94, operates 26
offices in 10 states, and manages approximately 5,000 leased
employees. Lumea currently has relationships with numerous
industrial/commercial clients. Each of these clients is a potential
user of EMTA's energy conservation and emissions reducing products.
By employing cross-selling techniques to Lumea's broad client base,
EMTA anticipates higher sales revenue and a reduced sales cycle
time. In addition, with President Obama's renewed emphasis on
reducing green house gasses, EMTA believes that the demand for its
emission reducing technologies will grow rapidly. "The opportunity
to expand our industrial/commercial XenTx sales utilizing Lumea's
customer relationships should result in increased revenues for
EMTA, enhanced client product/service offerings for Lumea and will
positively impact our overall profitability which should be
reflected in increased shareholder value", concluded Mr. Lonergan,
President/CEO of EMTA Holdings, Inc. About Lumea, Inc. Lumea, Inc.,
a wholly-owned subsidiary of EMTA Holdings, Inc., was formed for
purposes of implementing a roll-up strategy in the light industrial
staffing space. Lumea currently has 26 offices in 10 states and
manages 5,000 leased employees. The company currently has three
subsidiaries, Lumea Staffing, Inc, Lumea Staffing of California,
Inc., and Lumea Staffing of Illinois, Inc. For more information, go
to http://www.lumeastaffing.com/. About EMTA Holdings, Inc: EMTA
Holdings, Inc., (OTCBB: EMHD - News) develops and manufactures
innovative products to conserve energy, particularly for
petroleum-based fuels. The Company's engine and fuel additives are
marketed under the brands XenTx(TM), Synergyn(TM) and
CleanBoost(TM) brands, and are sold both to commercial and retail
customers. They are available from key distributors, major
automotive retailers and online at http://www.emtacorp.com/store.
For additional information on EMTA products, please visit
http://www.xentx.com/. CONTACT: Tim Clemensen Sr. Vice President
Rubenstein Investor Relations, Inc. 212-843-9337 DATASOURCE: EMTA
Holdings, Inc. CONTACT: Tim Clemensen, Sr. Vice President of
Rubenstein Investor Relations, Inc., +1-212-843-9337, for EMTA
Holdings, Inc. Web Site: http://www.emtacorp.com/
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