Xynergy Holdings, Inc. Announces Acquisition of International Center of Commerce of the Americas (ICCA)
7/6/2009 5:36:28 AM - Market Wire
Acquisition Marks Major Move by Xynergy to Diversify and Expand Its Businesss Focus
MIAMI, FL, Jul 06, 2009 (MARKETWIRE via COMTEX News Network) --
Xynergy Holdings, Inc (PINKSHEETS: XYNH) is pleased to announce that it has acquired ICCA, an emerging global brokerage and consulting firm doing business in Central and South America, and currently brokering a 16.2 Billion Dollar Timber and Lumber deal in Nicaragua.
In an effort to expand its scope of business, and build shareholder equity, Xynergy Holdings has been looking toward establishing strategic alliances with companies that are focused on establishing global commerce. As previously stated, Xynergy's CEO, J. Carlos Ley will continue to focus on current R&D projects, such as the Hydro X Assist(TM) Technology, while also taking the company in a new direction; Xynergy's acquisition of ICCA provides the company with such an opportunity.
"This deal marks a significant shift by Xynergy toward building an international presence," says CEO J. Carlos Ley. "This deal in particular, wherein we can leverage our interests in alternative energy against traditional business transactions like the 16 billion dollar wood extraction and brokerage opportunity in Nicaragua, is exactly how we intend on establishing our footprint in global business." Continues Ley, "We see a lot more than just a commission, we see a business going forward once the wood is extracted and sold."
ICCA is a company focused on Global Commerce. They have established brokerage contracts for the exclusive representation and sale of exotic Tropical Hardwoods from Central America into the USA, and Asia with two different entities. It is important to note that these hardwoods were part of the devastation caused by Hurricane Felix in 2007, and special permits and exceptions have been made in order to salvage the large quantity and variety of wood species devastated by the storm. It is estimated that there is approximately $16.2 Billion worth of wood that requires extraction from the forests.
ICCA plans on promoting the sale of the hardwoods to various global markets, including the USA. Much of this wood can be used for high end furniture manufacturing, as well as for construction of high end homes. ICCA and Xynergy will look for manufacturers, and contractors to partner with as vendors and grow this aspect of the business to bring revenue into the company. Additionally ICCA also has ties with Spain, and has plans to import / export consumer retail products for distribution.
