WHITEHOUSE, N.J., Oct. 22, 2003 (PRIMEZONE) -- AAMPRO GROUP, Inc. (OTCBB:AAPO), an Employee Leasing, HR Outsourcing Services and Payroll Company announced that its subsidiary AAMPRO Financial, LLC acquired a 10% stake in Jason Hawk Industries, Inc. Jason Hawk Industries is a niche manufacturer and supplier of officially licensed baby wear products and is based in New York.
CEO Stephen Farkas commented, "We are demonstrating our commitment to building shareholder value through a unique diversification and acquisition strategy. This is the 2nd acquisition that AAMPRO has announced in the past week."
About AAMPRO:
The Company, through its subsidiary AAMPRO, Inc. ("AAMPRO"), primarily conducts its business operations as a professional employer organization ("PEO"). AAMPRO provides a broad range of services comprised primarily of employee leasing and human resources management. These services include payroll and benefits administration, health and workers' compensation insurance programs, state and federal labor compliance, tax filings, safety program design and management and other related services to small and medium-sized businesses nationally with a primary concentration in the tri-state (New York/New Jersey/Pennsylvania) region. AAMPRO was organized as a corporation in 1995 and has provided PEO services since inception. Additionally, AAMPRO operates AAMPRO-PAY, a payroll services company and AAMPRO Financial, LLC, a financial advisory and consulting firm.
AAMPRO's services are designed to improve the productivity and profitability of small and medium-sized businesses by relieving business owners and key executives of many employer-related administrative and regulatory burdens that enable them to focus on the core competencies of their businesses.
About Jason Hawk Industries, Inc.
Jason Hawk Industries was founded by industry veterans who have over 30 years of industry experience in the manufacturing, marketing and sales of both hard goods and soft goods. Jason Hawk Industries is primarily engaged in the manufacturing and marketing of officially licensed baby wear and baby products from the professional sports and entertainment industries.
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.