First Colonial Ventures, Ltd. announces acquisition.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Calif.--(BUSINESS WIRE)--Sept. 14, 1995--First Colonial Ventures, Ltd. (FCVE Nasdaq Bulletin Board) announced agreement to acquire 100 percent of the outstanding stock of Preventco, Inc. Preventco, Inc. utilizes cost effective systems to minimize loss to employers resulting from employee drug and alcohol abuse. Preventco offers Fortune 500 employers the opportunity to save millions in reduced workmen's compensation Workmen's Compensation n. a former name for Workers' Compensation before the unisex title of the acts was adopted. premiums, employee absenteeism and cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. . Cost to benefit ratios for the employer have proven to be $1:$15. Preventco, Inc. is the premier company utilized by Fortune 500 companies to solve employee drug and alcohol problems in the workplace through their trademarked, non-chemical/non-evasive solutions. Preventco's employee substance abuse program has been the only successful cost containment solution to this problem in the workplace with companies like Frito-Lay, PepsiCo, Chrysler Corp., Southwestern Bell
Southwestern Bell Telephone, L.P. and other major Fortune 500 companies. Preventco charges companies only $3.00 per employee per month on a 24 month licensing agreement. Preventco, Inc. anticipates enrolling over 2 million new employees in the next 12 months with gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. in excess of $50 million with a profit potential of over $8 million. First Colonial Ventures, Ltd. is a diversified holding company with sales to the hotel, airline and cruise line A cruise line is a company that operates cruise ships. Cruise lines have a dual character; they are partly in the transportation business, and partly in the leisure entertainment business, a duality that carries down into the ships themselves, which have both a crew headed by the industries plus a recently acquired oil and gas division. CONTACT: First Colonial Ventures Ltd., Los Angeles M.W. Goldenberg, C.A., chairman, 310/642-0200 or fax 310/410-0274 |
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