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FLEXXTECH GEARS UP FOR BUSINESS INCREASE
COMPANY ANTICIPATES STRONG GROWTH IN MILITARY SECTOR
FOR: FLEXXTECH CORPORATION
CONTACT: Greg Mardock, President
5777 W. Century Blvd., Suite 775
Los Angeles, California 90045
(310) 342-0794
Financial Public Relations
Shannon Harrison, President
First Capital Partners, LLC.
(305) 856-5181
FOR IMMEDIATE RELEASE
FLEXXTECH GEARS UP FOR BUSINESS INCREASE
(Company Anticipates Strong Growth in Military Sector)
Los Angeles, California, September 17, 2001 . . . Flexxtech Corporation, (the Company") (OTCBB: FLXC), announced today that it has taken all necessary steps to prepare itself for an increase in business, which is now beginning to pay off. In the past several months the Companys wholly-owned subsidiary, North Texas Circuit Board Co., has invested heavily in its future by making capital improvements to its facility, equipment, and processes that have had a dramatic impact on the performance of the business. The operating cost has been reduced by one-third, while the internal yields and quality are now at a historically high level. While many companies have been downsizing, Flexxtech has been building up. Seventy-five percent (75%) of the Companys business is in the aerospace and military sector. The Company anticipates this business to increase dramatically.
May Davis Group, Inc., recently completed first round financing so that the Company could continue making improvements for the future. Flexxtech continues to position itself to respond to the current and future demands placed upon its production of products for the military. The end product is used in military aircraft, vehicles, satellites, and other weapons platforms.
Greg Mardock, President of Flexxtech, stated, All of us at Flexxtech share great sorrow for those who suffered the tragedy of September 11. To their families and friends we extend our deepest sympathies. To our friends and colleagues at May Davis Group, who occupied the 87th floor of One World Trade Center, all of us at Flexxtech are here to extend any help we can to make the grieving process and building process easier."
Mr. Mardock continued, The financing received from May Davis is used to preserve our way of life and to destroy those involved in terrorism. We stand by our government and our military. We stand ready and prepared should our customers, Raytheon, Boeing, Lockheed Martin, etc., need our immediate assistance."
About North Texas Circuit Board Company
North Texas Circuit Board Company (NTCB) is 100% owned by Flexxtech Corporation. Founded in 1978, NTCB is involved in high-volume production of quick-turn circuit boards of both high technology and quality. Seventy-five percent (75%) of NTCBs business comes from the military and aerospace industry. The Company is certified ISO 9002 and MIL-PRF-55110F. The Companys major customers include:
General Technology Kaiser Electronics
Raytheon Systems Rockwell
Kuchera Defense Litton Marine Systems
Lockheed Martin Cubic Defense Systems Texas Instruments Northrop Grumman
General Instruments Aerospace Avionics
General Instruments General Technology
EFW, Inc. DRS
Contract Assembly Boeing Defense & Space Boeing McDonnell Aircraft
Motorola Govt. & Space Systems
About Flexxtech Corporation
Flexxtech Corporations (OTCBB: FLXC) investment objective is to build significant shareholder value by acquiring, developing, operating, and investing primarily in growth technology companies. The Company is leveraging its acquisitions by focusing its roll-up strategy in highly profitable, yet fragmented businesses, including, but not limited to, the printed circuit board industry and government contracting business. The Companys strategy supports and also promotes opportunities for investment in undervalued situations and synergistic business relationships among the companies in which it has investments.
Flexxtech, through its wholly-owned subsidiary Flexxtech Holdings, Inc., currently owns 100% of Primavera Corporation, the parent company of North Texas Circuit Board Co., Inc., and other investments. Additional information on Flexxtech can be viewed at its web site at: www.flexxtech.com.
This release contains 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 the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many of which are not in managements control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers, and effectively compete against similar companies.
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