WEST CONSHOHOCKEN, PA--(Marketwire - 06/14/11) - Environmental Infrastructure Holdings Corp (OTC.BB:EIHC - News) today announced that its CEO and President, Michael D. Parrish, presented management's expectations and vision for the next 12 months and beyond:
1. Our target revenue growth rate for the next twelve months of 50% or better is to be achieved through increased organic sales with current customers as well as potential acquisitions.
2. We are in discussions with several potential acquisition candidates who will provide the team with expanded offerings as well as increased geographic presence in North America.
3. We intend to quickly complete the integration of Tower Turbines and commercialize and continue their patent process.
4. We expect our R&D and manufacturing processes to become ISO certified.
5. We will establish a responsive customer service organization with training and service centers located in strategic areas throughout the country.
6. Working with several potential new suppliers, we are moving aggressively to expand our product offerings and develop a robust pipeline of new products applicable to focused industries, specifically the oil & gas, manufacturing, food & beverage, and commercial markets which includes hospitals, schools, government facilities, etc.
7. Longer term, we intend to have an operating rigor that completes and integrates one acquisition per quarter on average.
Mr. Parrish stated: "We are again gratified by and continue to be very much optimistic about the value opportunity presented by our acquisition of Tower Turbines Inc. As we integrate the acquisition in to the Company's operations we foresee adding potential additional revenue of $62 million over the next four years."
In addition, Company management reaffirmed the insiders' 36 million share lock up representing 43% of the total outstanding common stock shares of the Company.
Mr. Parrish stated, "For the past year, we have focused internally on consolidating and divesting our non-profitable and under performing assets and are now in a position to refocus and accelerate our growth plans. With the core team we have in place, combined with our recent acquisitions and added commitment from our leadership via their lock up agreement, I am confident that we can achieve our long term goals."
About Environmental Infrastructure Holdings Corp.
Environmental Infrastructure Holdings (EIHC) is the parent company of diverse environmental manufacturing, engineering and services companies. Currently, EIHC has one subsidiary, Equisol, LLC, as well as investments in various joint ventures and partnerships.
Recognized in 2008 by INC Magazine as the 7th fastest growing private environmental services company in America, Equisol, LLC, is a unique equipment solutions provider specializing in the water and wastewater industry. Its team of top-rated engineers specializes in automation equipment and services across multiple industries where water use and automation are important.
Forward-Looking Statements
This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, acquisitions, new product development, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative or other variations thereof or comparable terminology. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control, and actual results. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2010, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
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