Robert Presser, Sofame's Chairman, Announces New Growth Strategy
MONTREAL, Nov. 27, 2012 /CNW Telbec/ - Sofame Technologies Inc. (TSXV:
SDW), (OTC.PK: SFMGF) has successfully 'right-sized' its operations to
generate modest quarterly profits and even more impressive EBITDA
results in 2012, according to in-house un-audited financial statements.
Year-end guidance, to be released in December, will show an
unparalleled improvement over the prior three years of negative bottom
line results. Sofame's board of directors and management team are
committed to grow the business both organically, via its network of
representatives, as well as via an aggressive acquisition strategy,
which was first mentioned in press release on July 3, 2012.
According to Presser, "Sofame has secured the financial support of a
New-York based investment group to actively pursue synergistic
acquisitions of complementary targets in the HVAC field (heating,
ventilation, air conditioning) for both vertical and horizontal
integration. The Board's objective is to create a company with a
minimum $50 million of revenue in FY2013, and which will have broader
manufacturing capabilities, a physical presence in New England, and
multiple complementary HVAC product lines to offer existing clients and
new prospects via Sofame's growing sales network."
Mr. Presser added that Sofame's corporate directors are all experienced
operating managers who have been involved in manufacturing for decades
and also possess significant experience in mergers and acquisitions,
and public company reporting. He expressed his gratitude to fellow
board members Fahim Samaha, Sham Ahmed and Brian Dillon for serving
shareholders solely for the prospect of future compensation. The full
text of Sofame's Chairman's Message is available on Sedar at www.sedar.com, and at www.sofame.com.
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that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: SOFAME TECHNOLOGIES INC.