SOURCE: Energy and Asset Technology, Inc.

June 01, 2005 08:00 ET

New Million-Dollar Revenues Push Growth of Energy and Asset Technology, Inc.

BOCA RATON, FL -- (MARKET WIRE) -- June 1, 2005 -- Energy and Asset Technology, Inc. (OTC: EGTY) is a diversified holding company of timber-forests assets, new energy saving products, and other revenue-growing asset subsidiaries. Energy and Asset Technology in having made announcements of $140,000,000 in revenue continues to grow the company through revenues from acquisitions and future growth.

Energy and Asset Technology, Inc. announces the acquisition of furniture manufacturer Tumlit Pine Furniture. EGTY expects first-year revenue of $6,000,000. The company also believes the market for furniture using their lumber products could grow to over $65,000,000 in the next three to four years based on .05% of the current Australian furniture market of $1.35 billion and the worldwide import export figures of $253 billion of finished timber goods.

Tumlit Pine Furniture will be changing its name to Global Cedar and will continue to manufacture over 110 furniture products. The products vary from lazy susans, to beds in all sizes, chests of drawers, tables of all sizes, and a complete range of screens for the windows and doors for your home. EGTY has begun talks with two groups in Australia about setting up assembly plants in their state so that Global Cedar can expand revenues for the company.

EGTY will continue to grow more revenues through acquisitions, investment, and at the same time provide strong management to the acquisitions and investee companies as opportunities present themselves.

The information contained herein is based on sources we believe to be reliable, but there is no guarantee that it is accurate or all-inclusive. It is not to be construed as an offer or the solicitation of an offer to buy or sell the securities mentioned herein. The opinions reflect the judgment of the author at this date and are subject to change without notice. This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes" or statements indicating certain actions "may," "could" or "might" occur.

Contact Information

  • Contact:
    George McMillan
    Energy and Asset Technology, Inc.
    U.S.: 561 620 4949
    Australia: 617 5570 4500