Universal Energy Corp. Second Acquisition Strengthens Diversification
ORLANDO, Fla., Feb. 6 -- Universal Energy Corp. (BULLETIN BOARD: UVEC) announced, today, the acquisition of Williston Crane LLC, a Florida-based energy services provider.
The letter of intent to purchase Williston Crane is the second in a series of recent agreements targeted in Universal Energy's aggressive growth and diversification strategy to continue strengthening its corporate structure.
Universal's intent to purchase PowerTown Line Construction was announced in late January with an estimated closing date of six weeks. Both of these companies currently provide services associated with Universal's long-term growth plan and fit well with the increasing demands of the market.
"We have signed a letter of intent for the purchase of Williston Crane LLC," commented Billy Raley, CEO of Universal. "And we continue to investigate additional companies to purchase in keeping with our strategy of diversification and continued strengthening of our corporate financial position."
Williston Crane LLC provides heavy equipment used in the maintenance and construction industry.
The president of Williston Crane, Marc Nussel, commented about the impending sale, "we are excited to join forces with a rapidly growing public company like Universal Energy".
"This second acquisition keeps us on track with our business growth and development plan," stated Dyron Watford, Universal CFO. "We continue to target companies for acquisition like Williston Crane and PowerTown that we expect to be immediately accretive to our corporate earnings."
About Universal Energy Corp. -- Universal Energy Corp. is a diversified energy company currently focused on oil and gas exploration. Universal's current focus is on the exploration of its land portfolio comprised of a working interest in highly prospective acreage in Alberta, Canada. Our corporate growth strategy includes the acquisition of energy services companies to diversify and strengthen our financial position. Go to www.universalenergycorp.info for details.
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