MANALAPAN, N.J., Dec. 15, 2005 (PRIMEZONE) -- AccountAbilities, Inc. (Pink Sheets:ACTB) announced today that it has acquired the accounts and accounts receivable of Nucon Engineering. Nucon provides professional engineers to a multitude of Fortune 500 companies. Nucon's operations are based in New London, Connecticut.
This acquisition of the operating assets (including client list) of Nucon builds upon AccountAbilities platform in the Professional Staffing and Engineering fields. Commenting on the acquisition, Allan Hartley, President of AccountAbilities stated, "The completion of the acquisition is in accordance with our plans to enter specific business segments that seamlessly integrate into our operations and will be accretive to earnings."
AccountAbilities expects the revenues from Nucon to exceed $9 million in 2005.
AccountAbilities is a publicly traded Company listed on the Pink Sheets under the Symbol "ACTB". The Company is engaged in the professional staffing industry, providing Accounting, Finance, Engineering and work force solutions.
The statements which are not historical facts contained in this press release are forward looking statements that involve certain known and unknown risks and uncertainties, including but not limited to, changes in the market for Internet or distribution services, regulatory and technological changes, economic factors, increased competition, foreign currency devaluation, foreign market risk, and the nature of supplier of customer arrangements which become available to the Company in the future. The Company's actual results may differ materially from the results discussed in or implied by any forward-looking statement. The words "intend," "expect," "should," "project," and "anticipate" and similar expressions identify forward looking statements. Readers are cautioned not to place undue reliance on these forward looking statements which speak only as of the date they were made.