Enerlabs Inc. (EGSRD.PK) on Monday said it has purchased its first strategic laboratory, Zalco Laboratories, Inc., within the new organization as of close of business Friday, February 03.
Enerlabs noted that the deal is made with a one year note bearing 4% interest, and the note can be converted to common stock at a value of $1.00 per share. This allows the selling lab owners to participate in the growth of Enerlabs and gives them liquidity while they retain their employment, if they so choose.
California -based Zalco is a full service analytical laboratory, serving the industries of petrochemical, petroleum products, refinery, manufacturing, wine manufacturing and solution based special projects. It employees 25 people and its client list includes: BP, Chevron, Edwards AFB, surrounding municipalities, oil & gas producers and several refineries.
The company noted that Zalco has just opened a satellite location in Ventura, California as of the first of November last year primarily targeting the petroleum refinery business in the Ventura market.
It is expected that ZALCO will finish the year with sales estimated in the $2.5 to $3 million range, proving the company's market potential.
For comments and feedback contact: editorial@rttnews.com
Business News