We look forward to focusing our capital and resources on our core business to continue to build a world-class disaster services company
Houston, TX (PRWEB) February 1, 2011
Cotton Holdings, Inc. (Cotton), announced today that it has sold the assets of Mitchell Site Acquisition, Inc., a wholly-owned subsidiary of Cotton Holdings, and with that sale, exited the telecom services business.
“The sale of the assets of this subsidiary marks the completion of our operational reorganization around our primary business. We look forward to focusing our capital and resources on our core business to continue to build a world-class disaster services company,” commented Daryn Ebrecht, Cotton’s Chief Operating Officer.
Bryan Michalsky, Chief Financial Officer, added, “this transaction, coupled with our previously reported bond redemption, has strengthened our balance sheet and enhanced our liquidity to best position the company as we attack new business opportunities and prepare for the upcoming hurricane season."
Financial terms of the transaction were not disclosed.
About Cotton Holdings, Inc. Cotton Holdings, Inc., is a leading, nationwide disaster services company providing restoration and recovery services to public and private entities throughout the United States and internationally, including environmental remediation, debris removal, and the restoration and reconstruction of commercial, industrial, marine, and institutional properties that have suffered catastrophic or other casualty loss. (cottoncompanies.com)
SOURCE Cotton Holdings, Inc.
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