Auxer is Forming $60 Million Telecommunications Group
13 July 2000
Auxer is Forming $60 Million Telecommunications Group
WEST PATERSON, N.J. - The Auxer Group, Inc. announced today that Board of Directors has approved the formation of an entity intended to focus on Telecommunication and related services. Auxer has entered discussions with several parties and consultants to assemble a conglomerate of Telecommunications Services which when completed will be a wholly or majority owned subsidiary of The Auxer Group. The company expects to announce Letters of Intent as early as next week."Today's announcement is related to Auxer's third strategic objective I recently unveiled on June 20th. The company has been in discussions with the related parties for sometime. I chose to wait until now to release these developments in order for me to be satisfied that these series of investments could be successfully completed. When assembled the group is projecting $60 Million in revenues with earnings of $3 to $6 Million. My timeline and goal is to have Auxer's Telecommunication's Group operational within the next three months," said Eugene Chiaramonte, President of Auxer.
ABOUT THE COMPANY
The Company is a holding company which is forming a Telecommunications Group and currently owns an Automotive Group with three (3) active subsidiaries: The Harvey Westbury Corporation Inc., Hardyston Distributors, Inc. and CT Industries, Inc. Harvey Westbury assembles and packages automotive accessories under the name, Easy Testa, sells engine treatment under the name, Formula 2000 Ultimatea and sells waxes and polishes under the name, Garry's Royal Satina to the automotive, marine, and aviation industries. Hardyston Distributors, Inc. is a specialty distributor of automotive parts and accessories to local mechanics, service stations and dealers. CT Industries, Inc. has been designated to house any future internet-related business and currently handles the internet-related sales from the company's websites as well as other retail programs.