The Indoor Air Quality (IAQ) Equipment Market Is Expected to Reach $10.4 Billion by 2011
NEW YORK, NY--(Marketwire - 11/13/09) - World Assurance Group (Pinksheets:WDAS - News) announced today that its subsidiary Anav Holdings Corporation is investigating working with Custom Building Products of South Carolina to enhance its building projects which are environmentally green.
Custom Building Products has developed innovative technology behind the destruction and eradication of Mold in housing developments. The company has two main products, Mold Inhibit�20 -- Concentrate and Mold Inhibit � Decontamination Kit.
According to BCC Research, a leading researcher of the Air Quality Market, the Environmental services, including mold remediation, asbestos abatement, and radon mitigation markets, which are all a subsector of Indoor Air Quality, should reach $2.9 billion by 2011.
The Mold Inhibit �20 Concentrate ("Mold Inhibit 20") is a product developed by the Company. Mold Inhibit 20� is a formulation based on an Environmental Protection Agency approved raw material for the treatment of mold infestation. Mold Inhibit 20� has undergone extensive laboratory testing by BodyCote Testing Group, Portland, Oregon. The Mold Inhibit 20� has applications for: wood, flooring, concrete, paint, sheetrock and other building materials. It is used in mold remediation projects and as an additive to building materials to retard the growth of mold. The product comes in liquid formulations of 2.5, 5 and 55 gallon drums. The Mold Inhibit � Decontamination Kit is a product developed by Custom Building Products and has applications for environmental cleaning business for mold, water, odor and fire induced conditions. It has applications for mold testing, mold cleaning and mold encapsulates. The underlying formulation is a raw material approved by the EPA for environmental remediation.
Jonathan B. Morgan, President of WDAS, stated, "By looking at environmentally green development projects and products, adding the ability to eradicate mold from many properties may be another method for WDAS to transform certain types of depressed real estate into viable sellable and rentable properties."
About World Assurance Group Inc (Pinksheets:WDAS - News)
World Assurance Group through its wholly owned subsidiary ANAV Holdings Corporation intends to participate in all areas of real estate transactions, including direct ownership, co-investment with other institutions or developers, as well as indirect participation through the acquisition of distressed debt and/or non-performing loans with the eventual goal of control of the underlying assets. For more information please visit www.anavholdings.com
About Custom Building Products
Customs Building Products Corporation is a privately held South Carolina corporation. The company has developed applications in the environmental cleaning business for mold, water, odor and fire induced conditions. It applications for mold testing, mold cleaning and mold encapsulates and underlying formulation is a raw material approved by the EPA for environmental remediation.
Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
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