Las Vegas, NV (FSCwire) - Adama Technologies Corp. (OTCPINK: ADAC) announced today that it has completed the acquisition of Alpine Industries located in Richmond, Utah. Adama Technologies entered into an agreement with Alpine Industries back in November of 2016 to acquire 100% ownership of Alpine industries including all equipment, warehouse space and real estate.
Alpine Industries is a precision machining and aerospace manufacturing company. Since its inception in 1974, Alpine has manufactured several hundred aerospace landing gear and other spare parts. Alpine continues to work as a US government contractor and currently holds over 30 US Military contracts with the majority of them with the US Air Force. Presently, Alpine manufactures such items as M1 Mine Clearing Blades, hypo-chlorination units, tow bridles, 60 ton jacks for the C5A, AIM-9 missile body trainers, numerous bolts and screws, drag links for the F-16 fighter planes, and many other landing gear parts. In addition to the US military, Alpine also manufactures parts for several private companies including parts for drilling components used in oil and water wells, roller-coasters, motorcycles, zip line parts, crash pads, and drilling carts.
“Today is an extraordinary day for Adama Technologies as well as Alpine Industries. This announcement is the result of more than a year of hard work, investment and negotiation,” commented Eric Sills, the company’s CEO, “This is the first acquisition within our new management and investment model which places emphasis on ownership and managerial control in order to achieve maximum revenue and profitability.”
Mr. Keith Rosenblum, an executive director of Adama Technologies stated that this acquisition represents a strong turning point for the company, “We are harnessing the power of private equity and blending that with the liquidity and strength of the public markets and using the best of both of those models to acquire healthy, productive companies and improve and strengthen those companies to generate and even better more profitable outcome. This is a success story in the making and we are all very excited.”
Contact Information:
Address:
1000 N. Green Valley
Suite 380
Henderson, NV 89074
Phone: (866) 859-8697
Website: www.AdamaTechnologies.com
Disclaimer
This release contains forward-looking statements that are based on beliefs of Adama Technologies Corp. management and reflect Adama Technologies Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Adama Technologies Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Adama Technologies Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company's filings with the SEC including 10K, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance Adama Technologies Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/adama01202017.pdfSource: Adama Technologies Corp. (OTC Pink:ADAC)
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