Greenland Corporation Announces Acquisition of PEO Client Base.Business Editors SAN DIEGO--(BUSINESS WIRE)--April 14, 2004 Greenland Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GRLC) announced today the consummation by its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , ExpertHR of Michigan, of a definitive agreement to acquire a client base of business from KEBS KEBS Kenya Bureau of Standards KEBS Kyes Engineering Bryan Land Surveying (Haslett, Michigan) , Inc., a Pennsylvania-based professional employer corporation. The Agreement represents an acquisition of approximately 100 work site employees representing approximately $900,000 in payroll, and the expansion of business into the northeastern part of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . KEBS, Inc. is a professional employer organization A professional employer organization (PEO) provides outsourcing of payroll, workers' compensation, human resources and employee benefits administration. It does this by hiring a client company’s employees, thus becoming their employer of record. (PEO) which offers a variety of services to help small- to medium-size businesses, including payroll administration, human resources functions, and employee benefit programs such as 401(k) and health insurance. Thomas Beener, 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 Greenland, stated, "This acquisition is part of our ongoing strategy to acquire businesses that complement our business model. We are constantly seeking new acquisitions in a marketplace where the consolidation of services brings internal cost savings to all parties involved." Beener further added, "We are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. acquisitions that fit our business model whether they be large or small. We encourage PEOs that may be in the market to be acquired to contact us and evaluate the opportunity we can provide." About Greenland Corporation Greenland Corporation (OTCBB:GRLC), through its ExpertHR of Michigan(TM) subsidiary, provides a variety of professional services related to human resources to small- and medium-size businesses. Greenland's common stock trades on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol "GRLC." Information on the Company is available at http://www.expertHR.com and http://www.greenlandcorp.com/. Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release. |
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