CONCAP Acquires 100% of Temporary Help Connection.ATLANTA--(BUSINESS WIRE)--Nov. 19, 1998--CONCAP, Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CNCG CNCG Comisión Nacional para el Cambio Global CNCG Concentrated Non-Condensable Gas ) announced today that it has signed the Definitive Agreement and closed the acquisition of Temporary Help Connection ("THC THC tetrahydrocannabinol. THC n. Tetrahydrocannabinol; a compound that is obtained from cannabis or is made synthetically; it is the primary intoxicant in marijuana and hashish. ") of Southfield, Michigan with CONCAP CONCAP Consortium for Materials Development in Space CONCAP construction capabilities contract (Navy; US DoD) CONCAP construction capabilities contract program (US DoD) acquiring 100% of THC. The acquisition of THC will be a stock transaction. Specific terms were not disclosed. Randy Troxtel, President of THC has executed a three year employment contract, where he will serve as President of the Light Industrial Division of CONCAP, Inc. THC provides light industrial and technical staffing services to some 40 clients throughout the Michigan area. CONCAP reported that THC is currently expected to produce more than 11 million dollars in revenue in the next calendar year. Recent clients of THC include Technicolor Video, Masco-Tech and BFI BFI - brute force and ignorance . CONCAP, Inc. intends to brand the Temporary Help Connection name as its light industrial division. CONCAP currently owns a technical staffing and software development company (Elite Technologies, formerly known as Intuitive Technology Consultants, Inc.) in Atlanta. Randy Troxtel, President of THC said, "We are looking forward to building a long relationship with CONCAP. We believe CONCAP will provide THC the opportunity to achieve the next level we are looking for by expanding our operations to other cities throughout the United States." Scott Schuster, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CONCAP said, "I believe THC fits the CONCAP model for acquisitions perfectly. They are a well organized company with experienced management, capable of delivering not only at their own organization, but allowing CONCAP to further expand nationally in the light industrial arena. With Mr. Troxtel's expertise in this area, CONCAP is capable of expanding rapidly in the light industrial staffing industry." |
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