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Charys Subsidiary CCI-Telecom, Inc. Wins Contract From Major Defense Contractor28 April 2006
Charys Holding Company, Inc. ("Charys") (OTC Bulletin Board: CHYS.OB), a holding company focused on pursuing growth opportunities within the Technology Infrastructure and Services Support market, today announced that its wholly owned subsidiary CCI- Telecom, Inc. ("CCI") together with a general contractor, which serves as an industry leader in general contracting and electrical contracting in support of federal construction projects, have successfully teamed to win a contract from the services arm of a major defense contractor. In partnership with CCI, acting as a prime sub-tier contractor, the team will construct the infrastructure for a Digital Airport Surveillance Radar (DASR) site in Phoenix, Arizona. The value of the total contract exceeds $1.75 million, with work to be completed by CCI and its partner within an eight-month period.
Wade Clark, President of CCI, said, "The synergy derived from this teaming arrangement allows CCI to capitalize on the strong performance-based and customer-oriented focus of both companies. CCI's strong reputation for radar infrastructure installations stems from 25 years of experience constructing radar facilities for large government contractors and private industry, domestically and internationally. The Phoenix site represents the most recent contract in a succession of DASR projects awarded to CCI."
"With our continued success as demonstrated by the award of this radar project and the recent acquisition of LFC, Inc., the management team at Charys continues to successfully execute its growth strategy," said Billy V. Ray, Jr., Chairman and CEO of Charys. "Looking ahead, with the help of our board of directors and our expanding management team, we anticipate future success in revenue growth and increased profitability. With a current run rate estimated to be $100 million on an annualized basis, Charys continues to perform its strategic plan as outlined back in February of 2004 when we took over the public shell."
Added Ray, "We have taken the first step in the next phase of our growth strategy by establishing a presence in the Tower ownership segment of the Integrated Infrastructure Market, leveraging the full capabilities and expertise of the Charys subsidiaries to drive our entry into this arena through the Ayin Group established in September of 2005."
About Charys Holding Company, Inc.
Headquartered in Atlanta, Georgia, Charys Holding Company, Inc. (OTC Bulletin Board: CHYS.OB) is a publicly traded company focusing on the fragmented and underserved segment referred to as The Integrated Infrastructure Services Segment. This segment varies widely in scope, but is fundamentally focused on upgrading the underpinning, infrastructure, and back office operations of the telecommunication, cable, electric, and Internet industries serving consumers, businesses and government entities. Charys' principle strategy is to acquire, through mergers and acquisitions, companies that support this underserved segment. For more information about Charys visit http://www.charys.com.
NOTE: The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Some statements in this release, including statements regarding management's expectations for future financial results and access to capital markets, are forward-looking statements. Investors are cautioned that these forward-looking statements regarding Charys Holding Company, Inc., its operations and its financial results involve risks and uncertainties, including without limitation risks of accessing capital markets on terms acceptable to Charys, downturns in economic conditions generally and in the telecommunications and data communications markets; risks in product development and market acceptance of and demand for Charys products; risks of failing to attract and retain key managerial and technical personnel; risks associated with competition and competitive pricing pressures; risks associated with investing in new businesses; risks related to intellectual property rights and litigation; risks in technology development and commercialization.
Company Contact:
Morgan Ralph DeLucia
Vice President - Investor Relations
Charys Holding Company, Inc.
678-443-2307
Fax: 678-443-2320
rdelucia@charys.com
Investor Relations Contact:
Corporate Evolutions, Inc.
Fred Lande
516-482-6565
Fax: 516-482-6099
info@corporateevolutions.com
Source: prnewswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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