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Article: Home Energy Savings Corp. Announces the Sale of Subsidiary, American Air Network Alaska.
- Article from:
- Business Wire
- Article date:
- September 5, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ROANOKE, Va. -- Home Energy Savings Corp. (Pink Sheets:HESV) announced today the sale of one of its subsidiaries, American Air Network Alaska (AANA) for $100,000. The terms of the transaction include $25,000 in cash and a Secured Promissory Note in the amount of $75,000.
Bruce Edwards, CEO of the Company, stated, "The AANA subsidiary is no longer a part of our core business and it makes perfect sense for us to divest the asset at this time. The sale represents a break from the company's past, and allows us to focus on our core business plan. The proceeds will be used to further strengthen our marketing efforts in the home improvement market."
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