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Frank Crivello and Crivello Group, LLC Announces Formation of Partswork Industries, Inc.
PartsWork Industries focused on roll-up of auto and truck OEM parts and specialty equipment manufacturers.
Cape Canaveral, Florida — October 26, 2005 — Frank Crivello, Managing Member, Crivello Group, LLC (“CG”) announced that its principals formed PartsWork Industries, Inc., (“Partswork”). PartsWork will target the acquisition of technologically advanced automotive and truck OEM parts and specialty equipment manufacturers. PartsWork has identified public and private operating assets within this space that are available for acquisition. PartsWork will focus upon this niche and pursue these opportunities.
“Given the widespread financial distress in this industry and our growing international manufacturing resources, we concluded it was the right time to pursue these assets,” CG Managing Member Frank P. Crivello said. “We are assembling a seasoned management team for PartsWork on the leading edge of technological innovation in this space. In addition to providing it with financing, we will provide strategic consulting services to PartsWork.”
"We have retained http://www.srffllp.com (Sichenzia Ross Friedman Ference LLP) ,to represent PartsWork. As for our strategic objectives, we are negotiating with several public companies to complete a merger of Partswork into a public company.” CG Member David Marks said.
About http://www.crivello.com (Crivello Group, LLC):
Crivello Group LLC is a strategic advisor and partner to start-up and emerging companies. Crivello Group LLC’s solutions for start-up and emerging companies include:
- Stabilization
- Plan for Restructuring
- Divestiture & Dissolution
- Capital & Debt Alternatives
- Staff, Boards, and Professionals
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results PartsWork or Crivello Group could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company’s operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
Contact:
http://www.new-school.com [New School Communications, LLC]
Blois Olson, 651-221-1999
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