Venturi Technologies Inc. Acquires Assets of Flohr Inc.
Reports Financial Results
OREM, Utah--(BUSINESS WIRE)--June 2, 1999--Venturi Technologies Inc. (OTC BB:VTIX) Wednesday announced that it has acquired the assets of Flohr Inc., a company headquartered in Midvale, Utah, that operates under the name Magic Touch Carpet Cleaning.
This acquisition demonstrates Venturi's continued penetration of the residential carpet cleaning market in Utah.
''We are pleased to add this ten truck operation to Venturi's family,'' stated John Hopkins, president of Venturi.
He added, ''This acquisition continues our penetration of the Utah market. We now cover the area from Weber county to Sevier county -- over half the State of Utah.''
The principals of Magic Touch, Cliff Averre and Jim Flohr, have a combined 35 years experience in the carpet cleaning business. Approximately 95% of Magic Touch's business is residential carpet cleaning, which is Venturi's most lucrative market.
According to Ed Norton, Venturi's vice president of acquisitions, ''We have been talking to Magic Touch for some time now. The combination of extensive carpet cleaning experience and a strong foothold in the local residential carpet cleaning market were very attractive to Venturi.''
Averre said, ''The VenturiClean system is one of the most exciting carpet cleaning technologies I have seen in my years of experience in the industry. I've wanted the new Venturi trucks from the first day I saw one. We are very excited to get this new VenturiClean technology to our customers.''
VenturiClean technology has been recommended by leading carpet and fiber manufacturing mills. Venturi is an industry leader in the cleaning and sanitizing of carpets without the use of harmful shampoos or chemicals in the extraction process.
The VenturiClean process uses an environmentally safe cleaning fluid and a patented system that leaves a cleaner and healthier living environment than other carpet cleaning systems, and creates significantly shorter dry times than ever before possible.
Venturi also announced its financial results for the first quarter of 1999. Revenue for the first quarter of 1999 is more than 200% of the revenue for the same period in 1998. This reflects Venturi's aggressive acquisition strategy and the beginnings of its penetration into new markets.
Certain statements in this news release may contain ''forward-looking'' statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors that may cause the actual results, performance or achievement expressed or implied by such forward-looking statements to differ.
For more information on Venturi please visit their web site @
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