Global Technologies Group Reports Status of Acquisition of MSE Inc.
June 27 2012 - 2:30PM
Marketwired
Global Technologies Group, Inc. (PINKSHEETS: GTGP) reports the
following regarding status of the pending acquisition of MSE Inc.:
1. We have completed the task of having our senior management
advisor engage in both review and personal meetings with all key
management of both MSE and Merdi during June 4-6th as well as
current workers and are satisfied that we have identified areas
which need further improvement and will be dealing with those
issues where needed upon closing. 2. We have also received all the
technical reports as well from people familiar with MSE
functionality of their facility and all aspects of it including
repair, upgrade and replacement of key and essential equipment to
bring the facility back to optimum performing conditions for the
work we are currently doing and plan to do. 3. We have received all
aspects of the required due diligence covering several years of
operation and are satisfied that they are in order and are waiting
for final review and comments regarding any questions or
verification needed from our attorneys. 4. As a result of our
intentions both in bringing back the expertise and talent that was
the mainstay of the facility and the statements made by our
President regarding expansion of the workforce from Butte and the
Montana community, we have received over fifty former employee
emails and phone calls along with their resumes and experience at
the facility that would be happy to come back and be an integral
part of revitalizing the MSE of the future. 5. We have also
received offers from former contractors and local and corporate
companies that worked with MSE in the past that would like to
reestablish former business relationships with the new MSE.
"The management of MSE and Merdi have been working with us both
professionally and amicably regarding the expeditious way in which
the required due diligence has been forwarded to us and have been a
tremendous help in this upcoming transition with us. I intend and
will keep all my commitments to keep MSE in Butte, to expand the
entire workforce in Butte and also move all operations of both
Global Technologies Group and Global Technology Holdings, our
private company which is making the acquisition to Butte. At this
point in time, I see no reason to believe this acquisition will not
close between Global Technology Holdings, Inc. and MSE Inc.,"
stated James Fallacaro, President of both Global Technology
Holdings, Inc. and Global Technologies Group, Inc.
Global Technologies Group, Inc. (GLOBAL) is a company that is in
the business of acquiring exclusive licenses and distribution and
reseller contracts on proven technologies in the environmental,
green and war fighter industries. The criteria for the licensing or
distribution agreements of the technologies are: they must be
proven, validated and in use. The business plan of Global is to
sublicense the technologies it acquires to companies in Countries
covered under the original license grants and for its own use. For
our exclusive distribution and reseller agreements, we partner with
appropriate representatives in the covered countries for resale of
turn key projects. Solucorp Industries is the patent holder and
licensor of the MBS technology.
Contact: James Fallacaro Email Contact 941-685-1616
www.glbtech.com
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