RENO, Nev., Jan. 3, 2007 (PRIME NEWSWIRE) -- eHolding Technologies, Inc. (Pink Sheets:EHDT) reported today that it has signed a Letter of Intent to acquire Kavco Construction Components, Inc. (Kavco), currently doing business as Precision Panel of Southern California. The company said it would acquire all the assets of Kavco, and that it has commenced due diligence that it expects will lead to Corona, Calif.-based Kavco becoming a wholly owned subsidiary.
Kavco, a privately held company, is a builder of homes featuring structural insulated panel (SIP) construction, and a fabricator of SIP panels. SIP structures 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.
"The marketplace is embracing this technology at an accelerated rate," said eHolding Technologies CEO Doug Hamby. "Champion Homes, the world's largest homebuilder, has partnered with the Department of Energy to identify the many merits of SIP construction. And Pulte Homes, the nation's second largest builder, has integrated the technology into its ongoing construction. Government estimates are that 20%-30% of new home construction in the next five years will be built with SIP panels, offering potential owners not only safety but energy savings as well."
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.