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GTREX Capital Targets New Acquisitions for Investment Portfolio
ALISO VIEJO, Calif., Dec 06, 2005 (BUSINESS WIRE) -- GTREX Capital, Inc. (OTCBB:GRXI) today announced that the company's Board of Directors has targeted several new synergistic investments for the GTREX Capital portfolio. The first of these investments are expected to not only provide significant seven figure revenues, but they will also become customers for wholly-owned portfolio company, Global Travel Exchange, a leading provider of direct access travel distribution technology.
The targeted acquisitions include Pacific-Asian and European travel suppliers and traditional travel businesses. Three specialty travel companies have been identified, and each of these businesses would benefit from the implementation of Global Travel Exchange's direct connect travel distribution technology. Together they currently represent approximately $6 million in annual revenues.
"GTREX Capital's Investment Committee is considering acquisitions that will diversify the company's interests beyond just our Global Travel Exchange portfolio investment and its new Global Financial Exchange subsidiary," commented chief executive officer, Christopher Berlandier. "The first three investments that have been identified will expand the company's interests, bring immediate revenues and value to the portfolio, while also attracting new luxury travel customers for the Voyager Network distribution system. These customers will simultaneously be exposed to Global Financial Exchange's debit and cheque card initiatives further increasing the potential synergy."
Mr. Berlandier has made several trips in North America and Asia, conducting due diligence on investment targets, including an August trip to Vancouver, British Columbia, Canada where the first targeted acquisitions have office locations.
"These businesses all have positive cash flow and significant potential for continued growth, especially as they employ the superior travel distribution technology in provided by the Voyager Network. Having more than one portfolio investment will be an important development in the growth of GTREX Capital, especially as Global Travel Exchange expands and becomes a leader in the travel distribution market. We look forward to announcing initial acquisition agreements in the very near future," added Mr. Berlandier.
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About GTREX Capital, Inc.
GTREX Capital, Inc. (http://www.gtrexcapital.com) is a Business Development Company pursuant to the Investment Company Act of 1940 whose core focus is to assemble an investment portfolio of investments into businesses related to the travel industry.
Its initial portfolio investment, Global Travel Exchange, Inc., has launched its Voyager Network travel distribution platform, which provides a service that enables direct access to reservation systems of major travel suppliers such as airlines, cruise lines, hotels, car rental companies and providers of other travel amenities. Through the Voyager Network searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and existing Global Distribution Systems (GDS), Global Travel Exchange presents the results in an easy to understand format. Besides improved brand and revenue management, suppliers save distribution costs while providing efficient service to major customers through a direct connection. Global Travel Exchange is positioned to market its services through travel distribution partners, contributing to the expansion of the Company's marketing channels and expedite revenue growth.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of GTREX Capital, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
SOURCE: GTREX Capital, Inc.
Gemini Financial Communications A. Beyer, 951-587-8072
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