Message #9 From:
NewsBot Date: November 15, 2006 05:00:00 AM
XRGI News XRG, Inc. to Increase Revenues by 25%
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--XRG, Inc. (Pink Sheets:XRGI), a provider of truckload services
throughout North America, announced today the completion of a
transaction with Chromos, Inc., based in Central Florida. Chromos, Inc.
is the parent company of trucking firms Florida Trucking Company and
Cook Transport, LLC, as well as a property broker, Value Transport
Services, Inc. The Chromos entities generated approximately ten million
dollars in gross revenue over the last 12 months.
Commenting on the transaction, Eddie R. Brown, XRG, Inc.’s
Chief Executive Officer said, “We are very
excited about adding a company with the market presence and expertise of
Chromos as our newest business partner.” Steve
Lusty, President of Chromos, Inc., said, “We
are pleased to become a member of the XRG trucking family and look
forward to them bringing their knowledge and processes to further
develop and increase our market share.”
“Lusty and his team have done an outstanding
job in expanding their company over the past two years. We are confident
that their contributions will be an asset to XRG’s
continued growth and success. This transaction is an important step in
furthering the non-asset based growth strategy of XRG, Inc.,”
Brown concluded.
In addition to focusing on strategic growth again, XRG is currently
addressing bringing their public filings up to date and expects to
announce progress on this front more specifically before the end of the
calendar year.
About XRG, Inc.
XRG, Inc., a publicly traded company (Pink Sheets:XRGI), was established
in November 2000 to provide transportation services through a network of
affiliated offices located throughout the United States. The company is
implementing expansion through non-asset terminal agreements and
brokerage agreements with existing trucking companies.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking information made on the company's behalf. All
statements, other than statements of historical facts which address the
company's expectations of sources of capital or which express the
company's expectation for the future with respect to financial
performance or operating strategies, can be identified as
forward-looking statements. Such statements made by the company are
based on knowledge of the environment in which it operates, but because
of the factors previously listed, as well as other factors beyond the
control of the company, actual results may differ materially from the
expectations expressed in the forward-looking statements.
