CHOWCHILLA, Calif., April 5, 2004 (PRIMEZONE) -- Global Diversified Industries, Inc. (OTCBB:GDVI), a company focused on the modular building industry with emphasis on the education market, is pleased to announce closing the acquisition of the assets of Grossman Construction, valued at approximately $200,000.
Grossman, a Central California based private company, specializes in site related construction projects involving modular type structures.
Global Diversified Industries Chairman and CEO Phil Hamilton stated, "The Company is pleased to have acquired the important assets of Grossman Construction. It will provide the knowledge and first-hand contracting expertise to compliment our infrastructure for providing new school modular construction projects including all facets of campus modernization."
The Company's assets will immediately become integrated with the registrant's (Global Diversified Industries, Inc.) wholly owned subsidiary, MBS Construction, Inc. Among the many assets MBS Construction will utilize from the acquisition are the fifteen employees who possess more than 125 combined years of modular structure contracting experience in both the Southern and Northern California markets. Grossman Construction also has several tangible assets including materials and equipment which, combined with its manpower experience, will contribute to cost-effective and timely completion of the site related tasks associated with modular construction and modernization projects. The terms of the acquisition will be detailed in filings with the U.S. Securities and Exchange Commission.
Hamilton further commented, "The future of modular construction is shifting to 'project specific' applications involving a combination of in-plant manufacturing in conjunction with site construction and installation. School districts prefer to deal with one firm to manage their project from groundbreaking through occupancy. This acquisition will reduce the need to hire sub-contractors for site related work, since we now have the increased manpower and resources to cover diverse modular projects throughout California."
About Global Diversified Industries, Inc.
Global Diversified Industries, Inc. is a holding company controlling two wholly owned subsidiaries. For investor information contact Paul Knopick at 949-707-5365 or pknopick@eandecommunications.com.