RENO, Nev., Jan. 18, 2007 (PRIME NEWSWIRE) -- eHolding Technologies, Inc. (Pink Sheets:EHDT) reported today that it has decided to focus all its efforts on the recently signed licensing and technical services agreement with Precision Panel Structures, Inc. that will enable the company to fabricate and laminate Structural Insulated Panels (SIPs) for home construction in 14 states. As part of the change in market strategies, the company said it has ended its discussions to acquire California-based Kavco Construction Components, Inc.
"Over the past two weeks, it became clear that we had to put all our resources at this time into developing the market in the Midwest states for SIP built homes," said eHolding Technologies CEO Doug Hamby. "Kavco is a good company with a good future. We know it will do well in this constantly growing marketplace for SIP construction and be a credit to the industry."
As reported earlier, the states included in the pact with Precision Panel Structures, a Boise, Idaho-based privately held leader in SIP building applications, include North Dakota, South Dakota, Nebraska, Kansas, Minnesota, Iowa, Missouri, Wisconsin, Illinois, Michigan, Indiana, Kentucky, Ohio, and West Virginia. Terms of the agreement were not disclosed.
Homes featuring structural insulated panel (SIP) construction are distinguished from traditional homes in that they can withstand Category 4 hurricane winds of 200 m.p.h., and absorb earthquakes in excess of 7.0 points on the Richter scale.
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.