Crednology Holding Corp. Announces Another California Recycling Contract
10 March 2017 - 11:00AM
Marketwired
California Recycling, Inc. Signs A Second Contract with the City
of Torrance
NORTHRIDGE, CA-(Marketwired - Mar 10, 2017) - Crednology Holding
Corp. (OTC PINK: COHO) ("Crednology"), is pleased to announce that
California Recycling, Inc., Crednology's wholly owned subsidiary,
has signed a long term multi-year contract to provide the City of
Torrance with Data Shredding, Destruction and recycling for the
City, its residences and business community. This is the second
contract with the City of Torrance following its agreement to
provide E waste collection for the City. The Contract runs through
January 30, 2020. The scope of work provides for the Company to
handle the shredding of all documents and data destruction events
the City holds with the first event to be held around Earth Day on
April 29th. The City has agreed to promote these events and our
shredding and recycling efforts. It is anticipated that more than
15 tons of paper will be shredded on-site at the first event.
Orie Rechtman, CEO of Crednology Holding Corp., commented, "This
new contract with the City of Torrance is very exciting. It proves
that our service and professionalism is enabling us to grow the
revenues and EBITDA of the Company. Please keep watching for more
exciting news as our business continues to grow with exciting large
new contracts that are currently in negotiation."
About Crednology Holding Corp.
Crednology Holding Corp., a Delaware corporation, is a public
holding company that has been dedicated to enhancing shareholder
value through a strategic combination of organic growth, mergers
and profitable acquisitions.
The Company is engaged in the cloud computing segment of the
technology sector as well as the Electronic Waste and Recycling
business. The main products and services include cloud computing
and virtual environment, disaster recovery and business continuity
and managed services to corporate accounts as well as the recycling
and disposal of E-Waste and other materials.
The market for cloud computing is growing at a staggering pace.
In 2015 the industry experienced a rapid growth of 33% with the
segment of business reaching over $16 billion by the year end. This
market trend is expected to continue with growth of approximately
30% expected annually for the next few years. E-Waste is growing at
a significant pace with double digit increases anticipated annually
over the next few years.
Safe Harbor and Informational Statement
This press release may contain forward-looking information
within the meaning of Section 21E of the Security Exchange Act of
1934, as amended (the Exchange Act), including all statements that
are not statement of historical fact regarding the intent, belief
or current expectations of the company, its directors or its
officers with respect to, among other things: (i) the company's
financing plans; (ii) trends affecting the company's financial
conditions or results of operations; (iii): the company's growth
strategy and operating strategy; and (iv) the declaration and
payment of dividends.
The words "may", "would", "will", "expect", "estimate",
"anticipate", "believe", "intend", and similar expressions and
variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statement are not a guarantee of future of future performance and
involve risks and uncertainties, many of which are beyond the
company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors including the risk disclosed in the
company's statements and reports filed with the OTC Markets. The
Company claims the safe harbor provided by Section 21E(c) of the
Exchange Act for all forward-looking statements.
For more information contact
Oriel
Rechtman
Info@credholdingcorp.com