(PRWEB) November 14, 2004
ProCore Group Inc. announced today the company has signed a letter of intent to acquire Specialized Services Inc. (SSI) a diversified holding company based in Southfield, Michigan. SSIÂs main source of business comes from its fuel services division. It also operates a competitive local exchange carrier (CLEC) and freight brokerage business. The firm has been listed in the Black Enterprises Magazine annual list of the 100 largest African American businesses for the last six years and CrainÂs Business Magazine top 200 privately held corporations for the last 4 years.
George Csatary , CFO said Â This acquisition should produce some exciting product lines for ProCore, more than 50 Million in profitable revenue next year and management skills and operational leadership to ensure the company can reach its goal of becoming a world class holding company. We are very excited about this first step towards realizing our business planÂ The terms of this transaction have not yet been disclosed.
About ProCore Group: Located in University Heights, Ohio, ProCoreGroup, Inc., conducts business as a merger and acquisition oriented holding company that focuses on undervalued assets which will positively impact minority communities with goods and services at fair and honest prices instead of predatory prices. The goal of the Company's management is to identify existing minority owned or based businesses, products and/or services that have potential to generate greater revenues and earnings through efficiencies that can be implemented as a result of restructuring, infusion of stronger management and/or through the marketing efforts of the Company. ProCore trades under the symbol ÂPCRGÂ on the OTCBB stock exchange. Procore has integrated relationships with, Loan Giant, and Good Faith Group, LLC.
The vision of ProCore Group Inc. is to create a stream lined multi-national holding company consisting of high quality cash generating businesses. The acquisitions and joint ventures that the company will engage in will be synergistically connected through the financial services and marketing industries.
About SSI: Located in Southfield, Michigan, SSI has several integrated businesses. They manage and distribute diesel fuel products, manage in-transit repairs of new vehicles, engaged in freight broker services, and manage cost with their own MasterCard and prepaid gas cards, available at Speedway/ Super America. Through their relationship with Affinity Telecom they offer voice, data and internet services which allows for increased sales opportunities within their existing business base and easy integration to their expanded ventures and business partners.
Note regarding the Private Securities Litigation Reform Act: Except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that the company has filed or may file with the Securities and Exchange Commission. Any forward-looking statements contained in this press release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.
Dr. Joseph de Beauchamp
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