QUEEN CREEK, AZ--(Marketwired - Apr 23, 2013) - WindPower Innovations, Inc. (
The Company had announced on March 27, 2013 that it had entered into agreements to acquire R.I.G. construction, Inc. and today announced that all contingencies had been removed and the acquisition was completed. Beginning now, R.I.G. Construction will be doing business as a wholly owned subsidiary of publicly traded WindPower Innovations, Inc. Larry Duffy and Steven Vollaro will continue as the controlling officers of the subsidiary after the acquisition.
John Myers, CEO of WindPower Innovations, commented, "With the completion of this transaction our Company and our shareholders have acquired a significant operating company, having substantial revenue and assets. I believe that this will be become a stepping stone for us as we look to grow the Company through internally generated growth and additional acquisitions."
Larry Duffy, President of R.I.G. Construction and the Cameo Brands, stated, "Our industry has been experiencing an upturn in the market and with our brand recognition we are greatly benefiting from this revival. We therefore expect to announce significant increases in revenue over previous years and for example we expect to report increases for the quarter just ended March 31st, 2013."
"I'm looking forward to the increased visibility that being pubic affords to further develop and expand our well known Cameo Brands that have stood for quality and integrity for over 35 years, "stated Steven Vollaro, Chief Operating Officer of R.I.G. Construction, Inc.
About WindPower Innovations:
WindPower Innovations, Inc. is an acquirer of fundamentally sound "green" tech, "green" energy companies or those companies that benefit from "going green" which are market accepted, scalable and demonstrate a quantifiable value proposition. Our focus is on organizations that have strong market presence, brand awareness and talented and dedicated management teams with the potential to achieve exceptional performance over time. By being acquired by WindPower these companies get access to our operational support, management approach and ability to access financial markets for operational and growth capital. By focusing on "green" companies such as wind, solar, and companies utilizing green technologies to make everyday products more affordable, more convenient and that may lower the "carbon foot print" we believe that we can create value for humanity at large and enhance shareholder value. WindPower Innovations has one subsidiary; WindPower solutions, Inc, that remanufactures wind power turbines for operators across the U.S. For more information go to our website at: www.wpienergy.com
About R.I.G. Construction, Inc.
RIG Construction, Inc operates two subsidiaries; Cameo Pools and Cameo Landscaping and operates a division of Cameo Pools under the name Cameo Solar. The Cameo Group of companies is the oldest pool company in Mesa, Arizona whose quality brand is over 35 years old. By being in business for so many years, Cameo's lifetime warranty actually means something. Cameo focuses on the totality of their businesses providing quality that their customers appreciate at a price they can afford, not just at installation but for many years to come by for example, providing solar options that greatly reduce annual operating costs and reduce carbon emissions. Cameo repairs, maintains designs and installs; pools, water features, landscaping, and solar energy with its available lifetime guarantee and 100% satisfaction guarantee policy anywhere in Arizona and is looking to make acquisitions in other high growth regions. For more information, go to our website at: www.cameopools.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding WindPower Innovations, Inc's expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon current information available to WindPower Innovations, Inc's management as of this date. The business and operations of the Company are subject to substantial risks which increase the uncertainty that forward-looking results will be achieved and actual events or results may vary materially as a result of various important factors including those which management has little or no control. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
