SCOTTSDALE, Ariz., Sept. 17, 2009 (GLOBE NEWSWIRE) -- EGPI Firecreek, Inc., (OTCBB:EFIR) is pleased to announce that it has completed a binding Joint Venture Agreement with CST Federal Services, Inc. (referred as "CST") of Washington D.C. and CORDIL Ltd., of Ireland ("CORDIL").
This new Agreement is in direct correlation to the Company's recently acquired M3 Unit and its future anticipated growth. The Company is now gearing up for its U.S. operations, which will initially be based in Atlanta, in order to establish operations in the Southeastern part of the United States.
As previously reported, M3 was acquired by an EGPI subsidiary and is a manufacturer and distributor of commercial and decorative lighting to the trade and to direct retailers. M3 specializes in the areas of lighting industry sales, design, product development, manufacturing, contracting, capital markets and sourcing.
About CORDIL Ltd.
CORDIL Ltd. is a leading construction project management company based in Ireland. Since its establishment in 2000, CORDIL has consistently delivered a first class service in competitive tender, design & build projects across all building sectors including: residential, retail, commercial, industrial, government and conservation projects. With offices in Galway and Sligo, they are now gearing up for their U.S. operations in Atlanta, GA. in order to facilitate and commence operations in the South, Southeast, and Southwestern United States. Currently, the company serves a diverse portfolio of clients on a nationwide and global basis.
Additionally, as a customer driven company, CORDIL provides clients with traditional building skills, innovative in-house design services, and efficient project management. The company's success has been built on ensuring that every project is carried out with a focus on quality, safety and attention to detail, while adhering to strict completion dates and budgets. The company prides itself on achieving a high standard of above average quality and putting customer needs and requirements first.
CORDIL is a highly innovative company, capable of dealing with any type of construction project. The CORDIL team is comprised of a professional and highly experienced management staff from a variety of technical backgrounds. This motivated team of experts will ensure that a project delivers both from a creative and technical perspective.
About M3
In keeping with the EGPI's business model, M3 has been aggressively pursuing acquisitions in the DOT construction industry on both Federal and State levels, in order to expand its sales for lighting, guardrail, cameras, traffic management/signalization, utility moves, variable message boards and other non-road construction opportunities, as well as, its pursuit of light and traffic fixture manufacturing plants both domestically and abroad in China and India. Future acquisitions in the DOT construction industry are expected to provide a labor force for the maintenance and remediation services the Company plans on providing in the near future.
About CST
CST Federal Services, Inc. is a disabled veteran owned service company which provides quality services to assist several federal government agencies in accomplishing their goals for the areas of construction, architecture, engineering, technology, human resources, talent management, acquisition, energy, infrastructure, healthcare and others.
CST Federal Services has enjoyed a long record of success in executing federal government contracts because of its access to its team of experts internally and externally through a vast network of strategic relationships on a large international basis across its scope of all industries. CST takes great care in selecting the best experts and joint venture partners to execute projects for the federal government. CST's management team has a combined 150 years of business experience and has the ability to utilize an in-depth quality control process in order to complement its vast international network of business relationships.
Currently, CST Federal Services is involved in major contracts ranging from indefinite quantity contracts with the Department of Defense, source contracts with the Department of Treasury, the U.S. Army, Airforce, U.S. AID, and the Veterans Administration.
This recently signed Joint Venture Agreement will now allow CST with its vast resources, experience and contacts, to assist the Company and M3 in formulating and deploying its business development plan within the federal government sector.
Dennis Alexander, CEO for EGPI, stated, "We are excited to be working with CST in order to begin assisting the selection and execution of contracts which are appropriate for the development and growth relative to the business model for both the Company's M3 unit and other operations that are already planned for development."
Robert Miller, Executive Vice President of M3 Lighting, Inc., stated, "Through our partnership with CST, M3 Lighting is very excited to have the opportunity to contribute our experience and resources towards these contracts, while continuing to broaden our existing business model."
Mr. Patrick Corrigan, Chief Operations Officer of CORDIL Ltd., stated, "CORDIL's growth and expertise in both the Public & Private sectors of the Industry has presented new opportunities on a global scale. We are taking great pleasure in being associated with CST and M3 in Federal Government projects which will allow our company to expand to significantly greater levels."
Ira Shapiro, Chief Operating Officer of CST Federal Services, stated, "We look forward to working with EGPI and M3 in order to pursue contracts within the vast Federal Government programs, and to implement key strategies between our respective firms for sustained economic growth."
About EGPI Firecreek, Inc.
EGPI Firecreek, Inc. is historically focused on oil production with an emphasis on acquiring existing oil fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories on an international basis. Other companies in the oil sector include, Exxon Mobil, Pantina Oil and Gas Inc., Frontier Oil Inc., and Cabot Oil & Gas Inc.
The EGPI Firecreek, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6259
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of EGPI Firecreek, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond EPGI Firecreek Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in EGPI Firecreek, Inc.'s filings with the Securities and Exchange Commission.