RENO, Nev., Jan. 4, 2007 (PRIME NEWSWIRE) -- eHolding Technologies, Inc. (Pink Sheets:EHDT) reported today that it has signed a 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. The agreement expands on the company's announcement yesterday of its intention to acquire Precision Panel of Southern California.
The states included in the pact with Precision Panel Structures, a Boise, Idaho-based privately held leader in SIPs 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.
"All these states represent unique opportunities to introduce an enhanced level of construction offering greater durability as well as energy savings," said eHolding Technologies CEO Doug Hamby. "Working with Precision Panel Structures, we intend to penetrate a marketplace that is growing exponentially and attracting major national homebuilders to this technology."
SIP structures are distinguished from traditionally built 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 U.S. Government anticipates that 20%-30% of new home construction in the next five years will feature SIP panels.
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.