Euro Group of Companies, Inc. Announces Name Change and New Trading Symbol
12 November 2007 - 11:58PM
Marketwired
PORT CHESTER, NY . The former company, ICT Technologies, Inc.
(ICTT), has changed its name to Euro Group of Companies, Inc. and
its trading symbol to EGCO.
The name and symbol change, along with the growing number of
seasoned management and employees and the growing order flow in all
of the company's product lines, is a testament to the
revitalization of the company's activities. Euro Group's Executive
Team has well over 100 years of combined business experience in
public and private companies on three continents. The augmented
executive team brings with them a wealth of manufacturing and
marketing relationships.
Euro Group consists of three divisions that focus on the
following marketing areas respectively. The Transportation
division, which markets under its Eurospeed brand name,
manufactures and distributes transportation vehicles. The
Communications division markets under the Europhone and Eugro
Mobile brand names. The Consumer Electronics division manufactures
and distributes products under the Eurokool and Eugro brands.
Eurospeed scooters and motorcycles are fast becoming the
transportation alternatives, due to higher gasoline prices,
unaffordable car payments and high car insurance premiums.
Eurospeed's distribution network will consist primarily of selected
high quality and experienced new car dealers, who will provide
Eurospeed customers a pleasant buying experience and uncompromised
service.
Europhone and Eugro Mobile are participating in one of the
fastest growing areas of wireless communications, the Pre-Paid
cellular market. Along with providing wholesale distribution of
handsets to independent cellular dealers, the company also provides
wireless service domestically and internationally through its
low-cost pricing plans under its Eugro Mobile Brand. The company is
also an agent of Verizon's FiOS services including FiOS TV and FiOS
Internet. The company is on track to open shopping mall locations,
has signed, and will continue to sign authorized sub-agents, to
market the FiOS services offering along side of Eugro Flat Screen
LCD HDTV's at these locations.
Eurokool and Eugro market the most popular consumer electronic
products today (High Definition 1080p LCD Flat Screen TVs) under
the Eugro Brand, and consumer durable goods (gas powered
generators, air conditioner units: split wall, window, ducted and
unducted) under the Eurokool Brand. The mandatory conversion to
digital broadcasting in the US and the recent consumer trends to
replace existing TVs with flat screens is picking up momentum. Air
conditioners and electric generators, similar to Eurokool's
products, have a large appeal in the Caribbean, and Central and
South American markets where economic growth and a growing middle
class has sparked demand for consumer products.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: From time to time, information provided by the
Company (including but not limited to this release), statements
made by its employees or information included in its filing with
the Securities and Exchange Commission may contain statements,
which are so-called "forward-looking" statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Act of 1934, as amended which are
intended to be covered by the safe harbors created thereby. With
respect to such forward-looking statements, we claim protection
under the Private Securities Litigation Reform Act of 1995. The
Company's results may differ significantly from those stated in any
forward-looking statements. Forward-looking statements involve a
number of risks and uncertainties, including, but not limited to,
product demand, pricing, market acceptance, litigation, risks in
product and technology developments, and other risk factors
detailed from time to time in the Company's Securities and Exchange
Commission reports including, without limitation, its Form 10-KSB
and Forms 10-QSB.
Contact: Euro Group of Companies, Inc. Media Relations Glenn M
Russo Director of Financial Strategies 181 Westchester Avenue Port
Chester, New York 10573 Email Contact 914-937-3900 x16