CarSmartt(R) Signs to Acquire Nitrotel, a Leading Manufacturer of Physical Infrastructure Solutions with over $2MM in Annual Revenues
September 21, 2020 at 10:00 AM EDT
Miami, Florida--(Newsfile Corp. - September 21, 2020) - CarSmartt, Inc., (OTC Pink: CRSM), is pleased to announce the signing of an agreement to purchase 100% of Nitrotel Manufacturing Corp., https://www.nitrotelmanufacturing.com/, a leading industry manufacturer of High Quality Physical Infrastructure Solutions.
Nitrotel - Infrastructure Solutions and Services
Nitrotel, based in Miami, Florida was established in 2001, and last year reported gross revenues in excess of Two Million USD ($2,000,000). Nitrotel continues to add institutional and governmental end-user accounts.
Nitrotel is positioned as one of the leading industry manufacturers of High Quality Network Physical Infrastructure Solutions. Its value includes business partners such as: Distribution channels, Systems Integrators, local sales representatives, engineers and designers, which will support directly or indirectly all of the customer needs.
CEO Roy Capasso states, "We are thrilled to announce that Carsmartt has signed an agreement to acquire Nitrotel Manufacturing. Management for both Carsmartt and Nitrotel are in discussions for additional financing which will be utilized to increase Nitrotel's reseller and distribution market in order to increase its revenue and to expand to new markets."
Nitrotel is a complete line vendor that can bring value to its Business Partners by being able to supply all their Physical Infrastructure needs, all under one brand with a Lifetime Warranty. Nitrotel is constantly introducing new products to enhance its portfolio. From simple LAN networks to Complex Datacenters to Passive Optical Networks (GPON), to Outside Data Plants.
Nitrotel has also been a global solution provider of structured cabling, and its domestic market share has been in the front rank for many years, with established production bases and logistics centers in many cities at home and abroad. Its strategic partners and distributors are more than a dozen global leading electronics companies.
Capasso adds, "Once the acquisition is complete, Carsmartt will have immediate revenues on its books and will have entered the global data center market, which is poised to grow by USD 284.44 billion through 2023, according to a new report by Technavio, progressing at a CAGR of more than 17% during the forecast period.
CarSmartt(R) Inc. is a company of the revolutionary APP.CARSMARTT.COM a ride sharing concept located in Miami Florida. Carsmartt is also expanding its vertical markets in different business ventures.
Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although CARSMARTT(R), Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, CARSMARTT(R), Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company's ability to meet the conditions necessary to, among other matters, obtain a public listing on a major national exchange.
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