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KMA to Launch Biomass Alternative Energy Division
US - KMA Capital Partners, Inc. has announced that the company has entered into an agreement with its largest shareholder, Intraglobal, Inc. and Intraglobal Private Equity I Limited Partnership to acquire and develop a forestry products and biomass alternative energy division. KMA Capital, through Intraglobal, is in discussions with several suitable operating companies. The transaction will not result in a change of control of KMA Capital. Intraglobal views this as a turnaround and restructuring of KMA Capital into an operating company with a focus on the core business fundamentals of sales and EBITDA. Intraglobal is in negotiations with several individuals to step in as interim management to lead KMA Capital and implement its new business plan. Through this restructuring and redirection, KMA Capital will have several supply contracts with domestic as well as international manufacturers and providers. KMA Capital plans to develop a manufacturing operation of its own in the biomass wood fuels industry in 2009.
The new division will be based in Portland, Maine, closest to raw material supplies, and distribute its products in Maine, New Hampshire and Massachusetts areas. Products will provides customers with alternative environmentally friendly sources to heat their homes at significantly lower cost, and reduce the consumption of fossil fuels.
KMA Capital Partners formerly conducted operations as a merchant banking firm with offices throughout the country that engaged in investment banking, financial consulting, negotiations of mergers and acquisitions, portfolio management, turnaround services, business development company services, and commercial ventures focusing on mid-cap private and public companies.
For more information about KMA Capital Partners, please visit www.kmacapital.com. Safe Harbor: The statements made in this release constitute "forward-looking'' statements, usually containing the words, "believe,'' "estimate,'' "project,'' "expect,'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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