SAN DIEGO, April 4 /PRNewswire-FirstCall/ -- Axia Group, Inc., today announced that it has placed an order for the first Sentry 5000 Mobile Utility System to be shipped to Sri Lanka for demonstration and marketing purposes. The Sentry 5000, manufactured by Titan Energy Development, Inc. in Detroit MI, is a mobile, multifunctional utility system that provides power generation, water filtration, heating, cooling, and satellite communications. Earlier in the year, Axia had announced the intention to acquire Titan, but both companies have now agreed to rescind this agreement. Axia will maintain its exclusive marketing and sales agreement for the Sentry 5000 in Sri Lanka, India, Pakistan and other areas of Southeast Asia.
Stated Raj Janan, President of Axia Group, Inc., "The Sentry 5000 is an ideal solution for Sri Lanka and other areas in Southeast Asia where power, water and communications are compromised. Our goal is to provide a working unit in Sri Lanka to support our construction efforts as well as demonstrate the system's many capabilities and benefits. Once we have the unit in operation in Sri Lanka, we hope to be able to pursue sales of the Sentry 5000 as we continue to acquire new housing contracts."
Added Raj Janan, "We made the decision to cancel the acquisition of Titan so that Axia could focus more squarely on our core business, which is to provide building technologies and engineering services in Southeast Asia. Axia will maintain an exclusive agreement with Titan for the Sentry 5000 for the region as we believe this is a very valuable and much needed utility solution for these areas."
More information on Axia Group, Inc. can be found on the company web site at http://www.axiagroup.info/.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of AXIG officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future AXIG actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and AXIG has no specific intention to update these statements.
