PACEL Corp. Files Final Acquisition Documents
June 19 2006 - 2:07PM
PR Newswire (US)
CHARLOTTE, N.C., June 19 /PRNewswire-FirstCall/ -- PACEL Corp.
(OTC:PCLO) (BULLETIN BOARD: PCLO) filed the final acquisition
documents for World Wide Personnel Services of Maine and United
Personnel Services on Friday, June 16, 2006. As demonstrated in the
8-K/A pro forma for 2005, the acquisition of World Wide and United
more than doubles PACEL's gross revenue and almost doubles PACEL's
gross profit. For the first quarter of 2006, the pro forma
demonstrates the combined revenue is more than 3 times the PACEL
only revenue and the gross profit is double the PACEL only gross
profit. Combined, these companies increase the work site employees
under management by over 700 and increase the client base by over
70 clients. All the clients and employees are in Maine thus
providing PACEL a strong presence in the northeast region of the
country. "This acquisition demonstrate our growth strategy adding
profitable companies that increase our market share and operating
territory," stated Gary Musselman, President/CEO of PACEL Corp.
"Completing the acquisition of World Wide Personnel of Maine and
United Personnel is just one step in our growth plans." Cautionary
Statement for the Purpose of Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995: Forward-looking
statements in this news release are made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Certain important factors could cause results to differ materially
from those anticipated by forward-looking statements, including the
impact of competition, the success of existing and new product
releases, the management of our growth, and other factors discussed
from time to time in reports filed by the company with the
Securities and Exchange Commission. DATASOURCE: PACEL Corp.
CONTACT: Gary Musselman of PACEL Corp., +1-704-643-0676
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