Green Bridge Industries, Inc. Achieves Major Goal With Acquisition of Fusion Incorporated
The agreement also outlines acquisition of BDST Leasing as part of deal
RIDGEWOOD, N.J., March 30 /PRNewswire-FirstCall/ -- Green Bridge Industries, Inc. (Pink Sheets: GRBG) is pleased to announce that the Company has acquired 50% ownership of Fusion Incorporated and BDST Leasing LLC which in 2009 generated over $2 million in revenue and has assets exceeding $1.2 million. Green Bridge acquired 50% of the shares of both Fusion and BDST in exchange for $550,000, payable in $450,000 of preferred stock in Green Bridge Industries, Inc. and $100,000 in cash.
Fusion Incorporated concentrates on producing a variety of cleaning brushes for OEM companies who market them as part of their product line. The company produces its brushes for Rubbermaid®, O'Cedar, Resolve, Kiwi, amongst others. Fusion is now producing high quality, innovative and creative heat bonded products in its high tech 50,000 square foot facility in North Carolina. For the past 14 years, Fusion has put an emphasis on new technologies and imaginative designs for the growing marketplace. The company continues to look at the future of brush making and cleaning products with customer service and satisfaction as its number one priority.
Fusion Incorporated was created to meet custom brush requirements for OEM companies around the world by using fusion technology. Each brush Fusion produces receives a personal quality inspection and must pass a series of strict internal tests which far exceed the industry standard. This makes Fusion Incorporated unequaled in quality assurance.
BDST Leasing LLC has been established for nearly 13 years and serves as leasing company primarily dealing in real estate property and equipment leasing. BDST currently has a relationship with Fusion Incorporated to whom it leases the property, a 50,000 square foot manufacturing facility and production equipment to Fusion.
"We are excited to have completed the acquisition of Fusion and BDST Leasing," stated David Gubb, CEO of Green Bridge Industries, Inc. "We look forward to continuing the growth of shareholder value through increasing our assets with acquisitions, as well as increasing our sales revenues."
About Green Bridge Industries, Inc.:
Green Bridge Industries, Inc. offers non-toxic, environmentally friendly cleaning products to fit the sanitation needs of the medical, agricultural, military, and retail markets. The Company, through its proprietary technology, has the ability to develop bio-renewable alternative cleaning products, which are superior to the synthetic products currently offered in the marketplace. The Company's products are safe for the surfaces it cleans, the environment, animals and humans. For more information on Green Bridge Industries, visit: http://www.greenbridgeindustries.com/.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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Green Bridge Industries, Inc. |
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Investor Relations |
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407-389-5900 |
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SOURCE Green Bridge Industries, Inc.
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