LONDON, April 23, 2007 (PRIME NEWSWIRE) -- IT Group Holdings Inc. (OTCBB:ITGL) announced today that it has appointed Phil Regan as Director of Finance with immediate effect.
The appointment comes at a time when the Company is experiencing increased activity and expansion, and follows the recently announced 2006 annual earnings that show a healthy growth in revenues and gross profits for the year.
Commenting on the appointment, Dr Fredrik Verkroost, Chairman of the Company said: "Phil comes to us with a strong financial background and lots of experience gained in small as well as larger companies including Esso, IBM, SOCO International, ICO Global Communications and Paramount. His appointment further helps to strengthen the management team."
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About IT Group Holdings Inc.
IT Group Holdings, Inc. (formerly Green Mountain Capital, Inc.) trades through its wholly owned UK subsidiary Internet Telecommunications Plc (IT). IT is fast becoming a leading global provider of telecommunications services. In 2006, IT achieved $22.7m in revenues (up 14.7% over 2005) and $1.35m in gross profits (up 18% over 2005) through its successful and seasoned management team. IT Group Holdings is now established as a fast expanding wholesale carrier-operator supplying service providers and businesses with low cost telecommunications lines as well as competitive and high quality telephone call services including voice, data, value-added services such as SMS, and carrier services such as Voice-over-Internet Protocol (VoIP).
Forward-Looking Statements
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.