Crednology Holding Corp. Announces Another New E-Waste Contract
21 February 2017 - 11:00AM
Marketwired
Crednology Holding Corp. Announces Another New E-Waste
Contract
California Recycling, Inc. Signs New Long Term Contract with one
of the Largest Municipalities In Los Angeles
NORTHRIDGE, CA-(Marketwired - Feb 21, 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 electronic waste recycling for the City, its
residences and business community. The Contract runs through
September 30, 2020. The scope of work includes the collection of E
waste from the city's municipality's buildings and the approval to
hold several events annually for residents and businesses to bring
their end of life electronics for recycle. The City has agreed to
promote these events and our recycling efforts. The Company
anticipates that many of the large scale businesses in the City
will take advantage of the Company's services.
Oriel Rechtman, CEO of Crednology Holding Corp. commented, "This
is a great achievement for our organization and it is a testament
to the good work the organization is performing for other
municipalities and the great reputation the company has built in
Los Angeles County and beyond during the last 10 years. We expect
to continue building on this momentum and achieve other similar
contracts with other municipalities in and around Los Angeles
County. Our services to the community are appreciated by all, and
directly contribute to keeping our planet green."
The Company anticipates a 10% to 15% increase in Revenue and
Earnings as a result of the main activities performed under this
contract and this will lead to increased Shareholder value. In
addition, there is great potential for further growth as a result
of ancillary services related to the contract such as Data
Shredding and Destruction which the Company has been negotiating
with the City.
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