City Capital Corporation Acquires ERX Energy, LLC
04 February 2011 - 7:48AM
Marketwired
City Capital Corporation (PINKSHEETS: CTCC) today announced the
launch of its newly acquired subsidiary, ERX Energy LLC. ERX was
formed to specifically target compelling technology and services in
the alternative energy marketplace. ERX Energy, LLC will initially
focus its efforts within the roofing industry, with specific
concentration in the solar roofing design, manufacture,
installation, repair, and maintenance arena.
Jeffrey Smuda, Chief Executive Officer of City Capital
Corporation, stated, "2011 marks the beginning of a new direction
for the company. City Capital Corp. has initiated a comprehensive
debt restructure program that is already underway. The company has
established a debt resolution team with the goal of restructuring
ninety percent of company debt, and during the fourth quarter of
2010 divisions that were not maximized were liquidated. The company
is currently liquidating its Sweepstakes, Laundry, and Petroleum
subsidiaries to allow the company to focus on the high growth
energy space. With our renewed focus on alternative energy services
and technology, and a keen eye on corporate cost reduction and
control, City Capital Corp. is confident that the company and
shareholders will benefit from these measures as we look to expand
our presence in the alternate energy industry."
About City Capital Corporation City Capital Corporation
(PINKSHEETS: CTCC), founded in 1984, is a leader in the production
and distribution of emerging new technology. Its holdings include
corporate owned retail stores and partnerships across the nation.
City Capital through its subsidiaries and joint venture partners
seeks to expand its presence in the alternative energy services
industry.
Contact: IR@CityCapCorp.com City Capital Corporation
www.CityCapCorp.com
City Capital (CE) (USOTC:CTCC)
Historical Stock Chart
From May 2024 to Jun 2024
City Capital (CE) (USOTC:CTCC)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about City Capital Corporation New (CE) (OTCMarkets): 0 recent articles
More City Capital Corp. News Articles