RENO, Nev., Aug. 16, 2006 (PRIMEZONE) -- eHolding Technologies, Inc. (Pink Sheets:EHDT) reported today that it has made SecureBilt, Inc. a wholly owned subsidiary. It also said that SecureBilt has purchased a 60 acre parcel for development in Shelbyville, Tennessee, near Nashville, and would commence operations before year's end.
The company has received a $1.4 million commitment from a Colorado real estate investment group to assist in the purchase. Closing on the transaction is expected to occur by month's end.
"The Shelbyville subdivision is very well suited to enhance our overall market position," said eHolding Technologies President and CEO Doug Hamby. "The property includes a commercial building of 45,000 square feet, including 4,000 square fee of office space. SecureBilt intends to grant five acres to the city to enhance an adjoining athletic park, with the remaining 45 acres set aside for a subdivision. The current plan is to build 135 single family houses, or three houses per acre, on the remaining property.
"All homes to be constructed will feature an emerging construction technology that utilizes Structural Insulated Panels (SIP)," Hamby said. "In addition to residential applications, SIP technology also provides superior construction solutions for commercial and light industrial projects."
SIP construction is distinguished from others by the fact that structures can withstand Category 4 hurricane winds of 200 m.p.h., and absorb earthquakes in excess of 7.0 points on the Richter scale.
Hamby said the subdivision will serve a very important function for prospective developers, builders and others, such as municipal officials. "After a tour of the plant, existing structures in the immediate area will make it convenient for visitors to examine completed buildings. An additional advantage will be to allow construction crews to receive on the job training all in one location," he said, noting the company intends to add other energy saving features to further enhance the value to the homeowner.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.